{"id":7970,"date":"2016-11-15T09:24:49","date_gmt":"2016-11-15T14:24:49","guid":{"rendered":"https:\/\/kasperskydaily.com\/uk\/?p=7970"},"modified":"2020-02-26T15:12:16","modified_gmt":"2020-02-26T15:12:16","slug":"banking-fraud","status":"publish","type":"post","link":"https:\/\/www.kaspersky.co.uk\/blog\/banking-fraud\/7970\/","title":{"rendered":"Who&#8217;s responsible for online fraud?"},"content":{"rendered":"<p>Imagine: you found a great little site online, selling those boots you\u2019ve been after for ages, at a great price.\u00a0 You jump at the opportunity to grab quick bargain but didn\u2019t realise that the site had poor encryption. You buy the boots and they come a few days later, but something else comes with it as well: unknown purchases on your credit card.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">'Banks could start telling consumers to have a minimal level of security if they want refunds from fraud' <a href=\"https:\/\/twitter.com\/hashtag\/FinancialFraud?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#FinancialFraud<\/a> <a href=\"https:\/\/t.co\/pkNaRhgHtg\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/pkNaRhgHtg<\/a><\/p>\n<p>\u2014 KasperskyUK (@kasperskyuk) <a href=\"https:\/\/twitter.com\/kasperskyuk\/status\/796662508778123264?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">November 10, 2016<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Sound familiar?\u00a0 It should.\u00a0\u00a0 The more we shop online, the more chances we have for something to go wrong through no fault of our own.\u00a0 But, here\u2019s the catch: we know things can go wrong, but we also know that if something does, we can just call our bank to get the payment reversed or cancelled.\u00a0 This has been a long standing part of internet shopping and it\u2019s something that we, as consumers, feel reassured by.\u00a0 After all: would you buy those shoes from an unknown online shop if you didn\u2019t?\u00a0 Probably not.<\/p>\n<p>The problem is, banks are becoming increasing burdened by fraud like this.\u00a0 We\u2019re doing <a href=\"https:\/\/econsultancy.com\/blog\/66007-uk-online-retail-sales-to-reach-52-25bn-in-2015-report\/\" target=\"_blank\" rel=\"noopener nofollow\">more and more shopping online<\/a> these days, and <a href=\"http:\/\/www.forbes.com\/sites\/johnrampton\/2015\/04\/14\/how-online-fraud-is-a-growing-trend\/#56cd5c3e349f\" target=\"_blank\" rel=\"noopener nofollow\">more and more fraud<\/a> is occurring as a result.<\/p>\n<p>Kaspersky lab recently held a round-table discussion on what should (and can) be done to not only help the prevention of fraud, but also to discuss where responsibility lies.<\/p>\n<p>Traditional thinking said that the responsibility lies with the bank.\u00a0 Yet, most banks would disagree saying that customers need to be aware of the risks involved in online shopping.\u00a0 Here at Kaspersky, we thought we\u2019d ask the public, so we did a couple of surveys to gauge what people thought and the results were something of an eye opener:<\/p>\n<p><post href=\"https:\/\/www.facebook.com\/KasperskyLabUK\/photos\/a.143726135686130.28516.113123578746386\/1301927873199278\/?type=3&amp;theater\"><\/post><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Where does the responsibility lie with digital banking fraud? <a href=\"https:\/\/twitter.com\/hashtag\/FinancialFraud?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#FinancialFraud<\/a><\/p>\n<p>\u2014 KasperskyUK (@kasperskyuk) <a href=\"https:\/\/twitter.com\/kasperskyuk\/status\/796666166743859200?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">November 10, 2016<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Most people agreed that there\u2019s a balance to be struck: banks aren\u2019t the only ones responsible here and we should all play our part in prevention.\u00a0 Indeed, those thoughts were echoed in the round table with Tony Neate, CEO of <a href=\"https:\/\/www.getsafeonline.org\/\" target=\"_blank\" rel=\"noopener nofollow\">GetSafeOnline<\/a> saying that \u2018it\u2019s all our responsibilities, but at the end of the day it lands with the consumer, or the small business or the large business.\u00a0 Government and law enforcement have their part to play but we have to start looking at this in a different way.\u2019<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">'Culture may change so that the liability shifts from the bank to the consumer.' <a href=\"https:\/\/twitter.com\/hashtag\/FinancialFraud?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#FinancialFraud<\/a> <a href=\"https:\/\/t.co\/QbYiKFvYSF\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/QbYiKFvYSF<\/a><\/p>\n<p>\u2014 KasperskyUK (@kasperskyuk) <a href=\"https:\/\/twitter.com\/kasperskyuk\/status\/796669046506799105?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">November 10, 2016<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Charlie McMurdie, Senior Cybercrime advisor at PWC said that law enforcement and the retail consortium are working together to collate data and incidents but we need (as businesses and consumers) to take responsibility and we shouldn\u2019t expect the police to fix everything for us.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">'Criminals targeting banks are becoming more sophisticated, not just ram-raiding banks anymore.' <a href=\"https:\/\/twitter.com\/hashtag\/FinancialFraud?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#FinancialFraud<\/a> <a href=\"https:\/\/t.co\/ZTrftMp2r8\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/ZTrftMp2r8<\/a><\/p>\n<p>\u2014 KasperskyUK (@kasperskyuk) <a href=\"https:\/\/twitter.com\/kasperskyuk\/status\/796650397314191360?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">November 10, 2016<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>So as with most things in life, a balance needs to be struck: customers need to be more aware of the risks, banks need to increase the level of security across their end-points and businesses need to up their game when it comes to security.<\/p>\n<p>It\u2019s safe to say, there\u2019s no easy fix for online fraud and it\u2019s not going to go away anytime soon, but there are things you can do to stay safe, including using an <a href=\"https:\/\/www.kaspersky.co.uk\/advert\/total-security-multi-device?redef=1&amp;THRU&amp;reseller=gb_ukdaily_acq_ona_smm__onl_b2c_kasperskydaily_lnk_______\" target=\"_blank\" rel=\"noopener\">award-winning internet protection suite<\/a>, <a href=\"http:\/\/www.actionfraud.police.uk\/report_fraud\" target=\"_blank\" rel=\"noopener nofollow\">reporting and fraudulent site<\/a> or activity you find and just being more aware of internet dangers when shopping online.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Online fraud is on the rise, but who is ultimately responsible and what can you do to protect yourself?<\/p>\n","protected":false},"author":437,"featured_media":7974,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2026],"tags":[697,1061,80,529],"class_list":{"0":"post-7970","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-threats","8":"tag-banks","9":"tag-finance","10":"tag-fraud","11":"tag-threats"},"hreflang":[{"hreflang":"en-gb","url":"https:\/\/www.kaspersky.co.uk\/blog\/banking-fraud\/7970\/"}],"acf":[],"banners":"","maintag":{"url":"https:\/\/www.kaspersky.co.uk\/blog\/tag\/banks\/","name":"banks"},"_links":{"self":[{"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/users\/437"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=7970"}],"version-history":[{"count":2,"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7970\/revisions"}],"predecessor-version":[{"id":19321,"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7970\/revisions\/19321"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/media\/7974"}],"wp:attachment":[{"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=7970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=7970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kaspersky.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=7970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}