According to comScore, US retail ecommerce spending (Q1: 2012) pushed past $44 billion, that is a 17% Year over Year increase. The hottest product categories included Digital Content/Subscriptions, Computer Software and Electronics. In 2011, 53% of the population bought something online, according to a Forrester study. In fact, the total amount spent on shopping online is projected to rise from a $1207 in 2011 to an astounding $1738 by 2016. That's the average number of dollars the American consumer is expected to spend annually on online shopping.
Given the rising revenues being garnered by online retail, it is only logical that this field will attract sophisticated cyber thieves. The number of people being victims of frauds and scams is going up every day. Identity theft and data theft is on the rise. The scams are many, unique and ever changing in the way they are
presented so that they can fool most online users. From fake online shopping portals that resemble the original almost down to every detail, malicious coding, phishing attacks, and infected email attachments - today, scammers use a variety of ways to grab personal information and financial data. The survey shows that there is cause for serious concern. Three out of ten respondents have been duped in some way or the other while transacting online.
William LeGro of Silver Lake frequently shops online, but when he contacted Bank of America recently to inform the bank that he was making an online buying transaction, an anti-fraud precaution few of us normally take, he was told that his Visa card had been compromised as a business he'd bought things from had been penetrated by hackers and that numerous Visa accounts had been compromised. No other details were forthcoming. Even the IRS has not been spared - in fact it has acknowledged that identity theft tax fraud - stealing someone's Social Security number to file a fake tax return and collect a bogus refund - is one of the most complex issues it deals with.
It sounds almost incredulous that someone could be made a victim three times over. However, 10% of the victims have been duped on three occasions, if not more. That speaks volumes about the ingenuity of the online con artists and thieves. Cybercriminals go to great lengths to cheat consumers. They make their operations look legitimate, they frequently manipulate search engine results and run professional-looking websites in order to make fake brands seem authentic, using country-specific scripts for cold calls. They also use the latest technology and a deep understanding of the human pyche to fool victims, often more than once. Meghan Bach discovered last year that her husband's identity had been stolen and a fake tax refund collected in his name; she spent nearly 200 hours to sort out the issue with the IRS and other agencies involved. She thought it was behind her until the family came back from vacation, only to realize that his identity had been stolen once again.
At one time, it used to be that we were only separated by six degrees of introduction from anyone on earth. Well, today, it seems that we're also all separated probably by just six degrees of fraud! The number of online frauds being perpetrated is so high that it is no more an uncommon occurrence. Many respondents have victims in their circle of family and friends. It is increasingly cause for serious concern. Also, cases of mass data theft are on the rise - such as the Sony Play Station identity theft case or the LinkedIn hacked accounts or the recent credit card heist where nearly ten million Visa and Master card customers had their data stolen. Released by Javelin Strategy & Research, a study reports that in 2011, identity fraud increased by 13 percent. More than 11.6 million adults became a victim of identity fraud in the United States
Don't see why revealing their full name could cause them harm
Don't get ehy hackers would find this valuable
Don't regard this as a not. to be disclosed fact
Don't think this is critical info
don't consider this info as private
don't agree that this is sensitive info
don't see why their address should be kept private
actually think none of this is sensitive information!
don't think this is critical
Amazingly, many of us seem to be completely unaware of the sensitive information that we reveal and which could be used to steal our hard-earned money. Social media such Facebook, LinkedIn and Twitter are huge leaks of critical, personal data. A study released by Javelin Strategy & Research, stated that specifically, 68 percent of people with public social media profiles shared their birthday information (with 45 percent sharing month, date and year); 63 percent shared their high school name; 18 percent shared their phone number; and 12 percent shared their pet's name The scary bit is that all these are prime examples of personal information that a company would use to verify your identity.
Clearly, there are some of us who are willing to reveal personal data without realizing how dangerous it could be to our own online security; making them a delight for hackers, scamsters and fraudsters. They are a soft and easy target for alert cyber thieves, always on the lookout for such victims.
This survey, conducted over three days, covered iYogi subscribers through an online form following their support sessions. A total of 1970 respondents filled the online survey form consisting of nearly ten questions requesting details on online security habits and preferences. The data collected was collated, analyzed and compared to identify, assess and quantify trends and patterns.
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