Australian consumer data sold to financial fraudsters: ACC report
- 09 July, 2012 12:00
Fraudsters have purchased personal information including credit card details submitted online by Australians to commit investment fraud, according to a new report from the Australian Crime Commission (ACC).
According to the Serious and Organised Investment in Australia report (PDF), the leads broker market specialises in on-selling personal data that can be used to target people who want to purchase specific products. This data is obtained legitimately from sources such as surveys or competitions.
Using this information, the ACC estimates that criminals have bilked 2600 Australians out of $113 million in the past five years through methods such as telemarketing calls and legitimate looking websites. According to the report, fraudsters have also manipulated search engine sites to move negative feedback about their operations off the top spots.
“Armed with information such as income, superannuation, mortgage and investment details of individuals, organised criminal networks are able to identify those most susceptible to particular schemes, such as serious and organised investment fraud,” read the report documents.
The ACC found that the most likely victim in Australia was over 50 years old or retired, male, financially independent or a small business owner.
In addition, the ACC made a number of recommendations in the report for consumers to avoid being a victim of fraud.
- Always seek independent financial advice before making an investment.
- Check that any company you are discussing investments with has a valid Australian Financial Services Licence by visiting the Moneysmart website.
- Alert family and friends to the fraud, especially anyone who may have savings to invest.
- Hang up on unsolicited telephone calls offering overseas investments.
- Report suspected fraud to the Australian Securities and Investments Commission (ASIC) or local police.
“Any information that can be provided such as the company name, location and contact details will assist with subsequent investigations and enquiries,” read the report documents.
Follow Hamish Barwick on Twitter: @HamishBarwick
Follow Computerworld Australia on Twitter: @ComputerworldAU
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.
Larry Page wants to see your medical records
Dual-Persona Smartphones Not a BYOD Panacea
After two-year hiatus, EFF accepts bitcoin donations again
CIOs struggle to deliver timely mobile business apps: survey
Spiceworks' free management software gets integrated MDM
Tolly Report: Performance Survey of Virtual Environment Security
This report by Tolly tests the system resource requirements of competing vendor solutions when performing on-demand and on-access scanning functions, during distributed definition updates. Click to download how the four competing options ranked against each other.
Advanced Persistent Threats and Real-Time Threat Management
Businesses face a constantly evolving threat landscape. One of the greatest challenges is presented by advanced persistent threats (APTs), which are sophisticated, multi‐faceted attacks targeting a particular organisation. Mitigating the risk of APTs requires advances beyond traditional layered security to include real‐time threat management. This whitepaper describes the nature of APTs, the risks they pose to businesses, and techniques for blocking, detecting, and containing APTs and other emerging threats. Read now.
Saving Time and Money with Savvy Use of Flash in Automated Storage Tiering
In a sluggish economy, getting the best ROI on every IT dollar spent is the top priority for almost every business. Storage budgets in most IT environments continue to remain flat or are capped as a percentage of the overall IT spend, while data storage requirements continue to grow at an unsustainable pace. Download now to learn about the benefits of using flash in automated storage tiering.