Thursday, June 5, 2008

ID Fraud on the rise

According to leading industry analyst Avivah Litan, and a recent study by Carnegie Mellon sited in this PC World article, Identity Fraud has been on the rise over the last year and a half and is projected to maintain a meteoric rise.

Gartner's Litan offered one more observation that might explain Carnegie Mellon's findings: The fraudsters are also getting better at what they do, she added. "If you talk to the largest banks, they will tell you that fraud has really increased in the past 18 months," she said. "And they project it going up very significantly in the next two years."

"The thieves are just getting better and there's more fraud," she said.

It appears that despite the recent focus on new authentication systems, and stronger data warehouses, the hackers are adjusting their tactics to take advantage of holes in the security chain. As discussed here many times before, the weakest link is likely: You, and your malware infested PC.

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