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Sunday, September 6, 2009

English Cybercrime Hotspots

According to research by The Third Man, Europe's top credit card anti-fraud company, the msall town of Shildon is a cybercrime hotspot. The firm says nearly 25%, of 1/4, of all online sales made there last year were fraudulent, charged to stolen credit cards. Even more mind-boggling is the fact that police believe all of these crimes were likely committed by one, maybe two, criminals working from the area!

The Third Man represents about 20% of online companies in the UK and estimates more than $600 million was lost to fraud last year. Cybercrime in the UK rose 13% from 2007 to 2008, but has risen 243% since 2001! Card Not Present fraud, The Third Man's specialty, now accounts for some 54% of all credit fraud cases. In one case, a woman was duped into receiving stolen goods - entire truckloads of stolen goods! She was then sending them off to people in - wait for it... Nigeria!

While electronics (specifically TVs and laptops) are the most commonly stolen items according to police, beds are a surprising entry on that list. Apparently, many cybercriminals enter Europe from abroad and a bed is their first necessity.

Despite the fact that everyone in the Internet, business, and law enforcement communities are calling for more action, cybercrime is hard to investigate and this is why it's so lucrative.

© C Harris Lynn, 2009

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