Online banking fraud increases dramatically

The amount of online banking fraud has increased dramatically in the first six months of this year, as various criminal gangs have been particularly targeting families on the internet. It is estimated that around £21 million has been siphoned from UK bank accounts using the Internet in the first six months of the year, which is a rise of nearly 30 percent when compared with the same figure for 2011.

One of the reasons why fraudsters have been so successful in stealing money is because they have created a great deal of new phishing website which are designed to steal people’s information and password to get them access to their bank accounts.

In the first half of the year it is estimated that there were around 111,000 fishing sites, which is an increase of nearly 200 percent compared with the same period for last year. A phishing site is something that is designed to look like the official webpage of the bank but in reality it is something that a fraudster has created in order to trick you into entering your username and password information. Users are normally sent an e-mail that appears to be from their bank offering them a link to the fraudulent website.

These various fraud figures have been released by the UK Cards Association, which has stated that the increase in online banking fraud is due to the fact that more secure credit and debit cards have been introduced through the introduction of chip and pin. The increasing technology has actually caused fraudsters to resort to more low-tech methods in order to steal people’s information.