| There are many Internet business credit card | | | | payment systems, automatic cardholder |
| crimes taking place every single day with the | | | | verification systems and various training |
| most common type being 'card not present' (CNP) | | | | programmes for financial providers. Of these |
| crimes. CNP crime is where a criminal gets hold of | | | | perhaps the most interesting are the intelligent |
| your card details, either on or offline, and then | | | | fraud-detection systems. Basically computer |
| uses them to make purchases. Although CNP | | | | programme scan live records in order to detect |
| purchases can be made over the phone or by | | | | any strange or unusually spending patterns. If |
| mail the most common is over the Internet. In | | | | these systems detect anything untoward these |
| 2007 CNP crime rose by 37% on the previous | | | | notify bank officials, who can then contact the |
| year to a financial loss of £290.5 million in the UK | | | | cardholder to ensure the transactions are genuine. |
| alone. As Internet shopping is becoming more | | | | If they are found to be fraudulent then the card |
| popular, part of this 37% could be due to criminals | | | | can be blocked immediately. Although these |
| having more victims but it is also suggested that | | | | applications have been in use for sometime the |
| these criminals are becoming more sophisticated in | | | | sophistication of these customer profiling neural |
| their methods. | | | | networks is constantly growing; in effect they are |
| How common, and how easy, online credit card | | | | becoming more intelligent. |
| fraud has become was highlighted recently in the | | | | Phishing emails commonly have links redirecting |
| press. Symantec, an Internet security firm, found | | | | you to a replica of a genuine site and asking for |
| that in 2007 stolen card details were being sold | | | | you to enter your card details. These card details |
| for only 25p each. In 2006 the same details were | | | | are then collected in a database and sold on to |
| being sold for a quid. These card details are often | | | | other criminals. The effectiveness of this type of |
| sold in Internet chat rooms wholesale in batches | | | | crime is highlighted by the fact that these card |
| of 10 or 20. These figures are truly astounding | | | | details are now being sold for 25p each whereas |
| and it is enough to throw anyone into a blind rage | | | | is 2006 they had a value of a £1. Often card |
| when they realise that their stolen card details can | | | | details are sold in chat rooms in batches of 10 or |
| go for so little. | | | | 20. It is worth considering that your card details |
| Experts state that there is no need to be overly | | | | are only worth 25p to criminals. Certain phishing |
| paranoid about Internet card use, as the majority | | | | scams will target business credit card users |
| of card details are still stolen in the real world and | | | | specifically. |
| then used online. Because of this it is clearly vital | | | | Perhaps the greatest reassurances that a financial |
| that you protect your card details when using | | | | service provider can give are fraud guarantees. |
| your card across a counter. It is also vitally | | | | Many card providers will not penalise people who |
| important to dispose of any receipts carefully | | | | have been the victim of fraud, will return any |
| along with any literature from your bank that | | | | money stolen and work with the police to find the |
| may contain your card details. All a criminal needs | | | | fraudster. It is an eye opener to realise that |
| to get hold of is your name, card number and | | | | stolen credit card detail are sold for 25p in |
| security code, on the back of the card, to make | | | | batches of 10 or 20 in Internet chat rooms. In |
| a purchase. A recent TV show demonstrated | | | | 2006 the same card details were sold for slightly |
| how a trained criminal could memorize a 16-digit | | | | more at a pound. With stolen card details costing |
| card number in seconds. | | | | so little it is easy to see how many details are |
| Amongst the initiatives in place are secure | | | | stolen on a daily basis. |