I’ve just been making some notes about the difference between “newspaper threats” and actual threats to a payment system because of some risk analysis work, and it reminded me that our perspectives on fraud are naturally framed by those kinds of stories, which I just randomly pulled up from the last couple of months. But there are major differences between consumer perception and actual reality. Test your knowledge with this true/false quiz that I found a while back on the DGC Blog. As a taster…
The first question and answer are: the popular belief is…….
(1) Most fraud occurs due to data breaches or Internet usage? T/F
(a) False. Traditional crimes are most common. Data breaches account for 3% of known-cause fraud, Internet 16% (from 12% in ’06).
Let’s not get carried away with a focus on identity theft as the crime of the new era. People still rob banks with shotguns (amazingly: I guess they don’t realise how much more they could steal simply getting a job at the bank).
These opinions are my own (I think) and are presented solely in my capacity as an interested member of the general public [posted with ecto]