Report Cites Consumer Education as Key to Phishing Scam Prevention

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FraudWatch International, the InternetÂ?s high profile fraud prevention and education website (http://www.fraudwatchinternational.com), has today released a report examining the trends of phishing scams, citing education as the key to the reduction of phishing scam victims.

– FraudWatch International, the Internet’s high profile fraud prevention and education website (http://www.fraudwatchinternational.com), has today released a report examining the trends of phishing scams, citing education as the key to the reduction of phishing scam victims. The report, titled “Phishing Scams: Understanding the latest trends” is available for free download at: http://www.fraudwatchinternational.com/internetfraud/phishing/report.htm

“Consumers need to be educated on the methods used to defraud them, and of systems they can put in place to protect themselves from becoming a target,” the report states.

Phishing emails and web site attacks, have provided a faceless opportunity for fraudsters to reach millions of potential victims, with little cost outlay, in the hope of victims supplying their personal and financially sensitive information. This information is then used to hijack accounts and duplicate the victim’s identity through the fastest growing crime in the world, Identity Theft.

The report provides detailed information on the methods used to deceive consumers in phishing scams whilst demonstrating examples and detailing precautionary measures for both corporations and consumers.

Consumers can protect themselves by:

·    Using spam filters

·    Using anti-virus software

·    Using personal firewalls

·    Being aware of the webpage they are on

·    Not clicking on hyperlinks within emails

·    Maintaining updated browser software

·    Seeking advice as to the legitimacy of an email

·    Educating themselves on Internet Fraud, the trends and continual changes in methods used

Corporations can protect themselves and consumers by:

·    Establishing corporate email policies and communicate them to consumers

·    Personalizing emails sent to consumers

·    Providing communication avenues for consumers to check the legitimacy of emails

·    Maintaining current web site certificates

·    Monitoring the Internet for potential phishing scams

·    Creating rapid response plans to phishing attacks

·    Supporting consumer education

Consumers need to be aware they are vulnerable, as fraudsters are persuasive and convincing; many victims thought they were too smart to be scammed.

“Proposed technological changes in the infrastructure of the Internet and Email are long term solutions. These changes may or may not impact phishing scams as the fraudsters themselves become more technologically advanced,” said Mr. Trent Youl, FraudWatch International Managing Director. “What really needs to happen is mass consumer education. In my opinion, this will reduce the success rate of phishing attacks. Consumers need to know what to expect while surfing the net, it’s the same concept as road and water safety education campaigns.”

“Consumer education is the key to the reduction of consumers becoming victims of phishing email scams. Education should be the focus and combined effort of governments, law enforcement authorities, financial institutions, Internet Service Providers (ISP’s), software manufacturers and all corporations wishing to do business on the Internet,” the report states.

For more information, please download the report at http://www.fraudwatchinternational.com/internetfraud/phishing/report.htm

About FraudWatch International

FraudWatch International is an Internet fraud education, prevention and investigation web site dedicated to reducing the incidence of Internet Fraud and to protect consumers from Identity Theft where personal and credit information is collected by fraudulent and deceptive means.

Many consumers have been saved from financial loss by utilizing the information on our free educational web site, or asking us questions regarding potentially fraudulent emails and web sites.

FraudWatch International receives thousands of fraudulent emails each week, which are investigated by our Investigations Team. We request the web hosting company to immediately shut down any sites that prove to be fraudulent. This is an invaluable service to consumers and corporations, which are the targets of these scams. There is no method to calculate the exact losses we have prevented, but it would be safe to say we have saved both consumers and corporations hundreds of thousands of dollars through our efforts.

More Information about FraudWatch International can be obtained from our web site: http://www.fraudwatchinternational.com

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