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The Economy Fuels Cyber Crime

According to the Internet Crime Complaint Center (IC3), cyber crime was up in 2008, and if the first few months of 2009 is anything to go by, this trend is not only continuing, it is accelerating.

As the country slides into recession, early indicators for 2009-February to March 2009-shows an additional 50% increase in reported Internet fraud complaints.

“These numbers are shocking, but given that the vast majority of incidents go unreported, the threat of identification theft is actually much more serious than even these figures would lead us to believe,” says Justin Yurek, President of ID Watchdog, Inc. Common wisdom says that only one cyber crime in seven-or about fifteen percent-is actually reported.

Internet fraud includes everything from bogus sales on auction sites such as eBay and classified sites like craigslist.com, to smaller scale version of the Ponzi scheme perpetrated by disgraced New York financier Bernard Madoff.

As an example, a scam recently surfaced via e-mails that masquerade as originating from the FBI and other federal agencies seeking the recipient’s bank account information in order to “help with illegal wire transfer investigations.” Sweet.

The Recession Impact

Many observers put the continued surge in cyber crime down to the recession, and for several reasons.

As reported by the TechArena Forum , McAfee for one, in their annual McAfee Virtual Criminology Report-which examines emerging global cyber security trends, with input from leading academics, criminal lawyers, law enforcement authorities and security experts across the world-identified the following challenges:

The Cyber Credit Crunch – The cyber criminal is now trying to cash in on consumer anxiety to profit from old-fashioned “get rich quick” scams.

Meaning, that there are now people who voluntarily sign up to add malicious code to their websites, lured by the promise of easy money. At the same time, desperate job seekers are being recruited as “money mules” to launder cybercriminal gains under the guise of “international sales representatives” or “shipping managers.”

In addition, with the economic downturn driving more people to the web to seek the best deals, opportunities for cybercriminals to attack are on the rise as people are more easily drawn in.

Governments are distracted – As governments grow more and more preoccupied with the economic downturn, their fight against cyber crime slides down their agenda, inviting more and more audacious individuals onto the cyber crime field.

The Cybercop Shortage – It is a known fact that police forces on the cyber crime front line often lack the specialist skills required to effectively fight these criminals.

Furthermore, the lack of dedicated and ongoing training, sufficient remuneration, or even a clear career path, is causing cyber crime specialists to be lured into the more lucrative private sector or even into underground economies.

Criminality Concealed – Eastern Europe, Russia and China have become key safe havens for cybercriminals while Brazil has become one of the fastest growing scapegoat countries for cybercrime. Traffic is often re-routed (and often via Brazil) as a decoy causing considerable misdirection in the origin of attacks.

Information Silo – While law enforcement is bound to physical national boundaries, cybercriminals are free to cooperate across borders.

Law enforcement communication between countries remains inconsistent and limited. Local issues and priorities take precedence over global efforts and international laws are being implemented with regional variations that impede the ability to negotiate jurisdiction and extradition between countries.

This is an environment that plays right into the hands of the cyber criminal, much to the frustration of cyber police.

Microsoft’s Take

As reported by RedOrbit Microsoft shares McAfee’s view that the global recession could prove to be a starting point for an influx of more cyber criminals seeking to use their computer skills to earn extra money.

“Today these (cyber) attacks are no longer about vandalism, they are about cash,” says Roger Halbheer, Microsoft’s chief security advisor for Europe, the Middle East and Africa.

“Cyber crime has gone from cool to cash. And this will definitely grow in the future,” he told AFP (Agence France-Presse) during a recent international conference on terrorism and cyber security in Spain. “At the moment we are still at the cool side. But I’m expecting it to move to the cash side.”

He then went on to add that it is, “one of the things that scare me about the economic downturn because I expect cyber crime to grow.”

Also, the current economic crisis is causing a large number of layoffs, many of them from tech firms, meaning that more and more computer experts will have a lot of time on their hands, but no money. Tempting.

Fixing any and all security issues in software, does not solve the problem for, “Unfortunately the bad guys don’t give up and go away. Instead they increasingly focus on crimes of deception that prey on human vulnerabilities rather than software vulnerabilities.”

A Law Enforcement Perspective

Lt. Rocky Costa, who until recently headed up the Southern California High Technology Task Force agrees. “In fact, law enforcement has always seen a rise in all sorts of theft crimes when the economy goes south. The crooks look to fraud as the best way to separate folks from their money. People are most vulnerable when money is tight and they are looking to save their homes, savings, retirements, and often, their families.

“They become easy prey to the con-artist who has no sense of right and wrong, but knows how to capitalize on human weaknesses. You see the con artist makes a living studying people and their behaviors. They know their success rate will increase as the economy tumbles and/or the recession climbs. Since a vast number of folks use technology daily, it is only natural to expect technology to be another weakness and another method for exploitation.

“Historically, the number of street robberies goes up, along with shoplifting, and burglaries as the money becomes scarcer. Although we have not yet seen these increases at the lab, we fully expect them. However, with the current economy, even government must begin to cut back. When they do, technology based crimes slide down the priority list in favor of these more visible types of theft.

“People need to stay vigilant in the face is despair, holding onto their values and good judgment will be the only way they will be able to fully protect what they have left, until we all see around the corner.”

A Call to Action

According to the RSA Press Release of Tuesday, April 21, 2009:

During the opening keynote at RSA Conference 2009 Art Coviello, President of RSA, The Security Division of EMC, cautioned that the global cyber-threat continues to escalate and online fraudsters are more organized, collaborative and effective than ever. He addressed major forces such as the economy and emerging technologies that are driving the information security industry to evolve and adapt-and how these forces provide an opportunity for “inventive collaboration” to effectively restructure the information infrastructure.

“To combat the cybercriminals requires far more purposeful collaboration on the part of the industry and a strong security ecosystem built around a common development process focused on risk,” said Coviello. “Today’s security technologies are applied as independent applications cluttering the information landscape and leaving perilous gaps of risk.”

Coviello cited three major forces driving the information security industry to evolve and adapt, including:

o the challenge posed by the criminal threat;

o the demand upon enterprises and governments to achieve unprecedented levels of productivity to restore value to the faltering economy; and

o the opportunity to rethink the approach to security based upon emerging technologies and trends such as virtualization, cloud computing and social networking.

According to Coviello, “We must embrace a common development process that allows us to create a more secure infrastructure today. Then with an eye on the future we can ensure that the new technical infrastructure is designed around that process, rather than forcing a process around a collection of technologies.

“We must develop a stronger and healthier ecosystem than the fraudsters and ensure the fluid and frictionless exchange of information on which our global economy depends. It’s not about changing the game; it’s about winning the game,” said Coviello.

Educating the Individual

However, it does not matter of safe our hardware and software becomes, if the individual citizen, desperate for money-and reaching for digital straws, as it were-believes that perhaps this Nigerian Prince really does exist and really does want to spit his $2 Million 50/50 if only he were to help him.

And by the same token, scouring the Internet for the best deal, and finding some that are (in fact) too good to be true, he may pounce on them, not only losing his money in the process, but also his credit card number and other private information.

The same holds true for many “work-at-home” opportunities that only require a small $300 payment for the material you will need to make “thousands a week from your kitchen.” You’ve seen them. Well, as often as not, you will not even receive the material, and by the time you’ve wised up, your card has been charged, your money gone.

The time to wise up is now.

Internet Commerce Made Safe

As we all know, at least during some of our more rational moments-the “too good to be true” deal is often precisely that. But that is not to say that there are no good deals out there. In fact, the Internet is probably the marketplace that to a large extent will pull the economy out of its slump, precisely because it is replete with good deals and true opportunities.

But how to tell the good from the bad?

According to the IC3, the best way to guard against Internet facilitated scams is to stay informed. Keeping informed of the latest scams on the Internet may enable Internet users to recognize and report these scams instead of losing money or their identity information in one of them. To learn about the latest scams, they recommend periodically checking the IC3, FBI, and the FTC websites for the latest updates.

Additionally, the IC3 and its partners have launched a public website, “www.lookstoogoodtobetrue.com,” which briefs the consumer about various consumer alerts, tips, and fraud trends. Pay it a visit. Make it a habit.

Also, when it comes to online auctions, and the potential of non-delivery of goods that you’ve paid for, the IC3 makes these specific recommendations:

o Make sure you are purchasing merchandise from a reputable source. As with auction fraud, check the reputation of the seller whenever possible, including the Better Business Bureau.

o Try to obtain a physical address rather than merely a post office box and a phone number. Also, call the seller to see if the number is correct and working.

o Send them an e-mail to see if they have an active e-mail address. Be cautious of sellers who use free e-mail services where a credit card was not required to open the account.

o Investigate other websites regarding this person/company. Do not judge a person/company by their fancy website; thoroughly check the person/company out.

o Be cautious when responding to special offers (especially through unsolicited e-mail).

o Be cautious when dealing with individuals/companies from outside your own country. Remember the laws of different countries might pose issues if a problem arises with your transaction.

o Inquire about returns and warranties on all items.

o The safest way to purchase items via the Internet is by credit card because you can often dispute the charges if something is wrong. Also, consider utilizing an escrow or alternate payment service after conducting thorough research on the escrow service.

o Make sure the website is secure when you electronically send your credit card numbers.

Bona Fide vs. Fraudulent Online Escrow Companies

If you have found a good online deal and are now ready to purchase, it would serve you very well to take IC3′s recommendation and engage an online escrow service.

The problem is that while there are several bona fide online escrow sites, they are nowhere near as many as there are fraudulent ones.

So, how can you be sure that the escrow company you’re considering using is in fact what it says it is?

You must research it. First, do a WHOIS search on the domain. This will show you how long the site has been up, where it is being hosted, how many times the site has been taken down. These are clues. If it smells fishy at all to you, go elsewhere.

Then Google the name of the escrow company to see what gives. This will lead you to forums and other articles. Study them well.

Then, when you have found a site that appears legitimate, travel the extra mile and take one of several additional steps:

o Firstly, while fraudulent sites can buy the necessary certificate to make it a secure site, they seldom do;

o Secondly, you can check at escrow-fraud.com to see if the site you have decided on is listed as a fraudulent site by them; they also maintain a list of bona fide sites;

o Thirdly, you can call the site’s customer service department to make sure they are based in the United States. If you have any doubts about that, ask them to call you back, and check the caller ID-if it is an international call, beware. Also, if the site does not have a customer service department, again, beware;

o Once you know that you’re talking to a U.S. based service department, ask any questions you can think of to ensure they are legitimate, such as which bank are they using for their escrow accounts, and who is their main contact at that bank (whom you can then call to verify that this online escrow company does in deed have an escrow account there);

o If the answer is a well-known American bank, and if the customer service rep can supply contact information at the bank, you are 99% there. Then, if you want to reach 100%, make that final call to the bank to rule out any vestige of doubt.

Now you have found an online escrow company you can trust; register with them and enjoy your purchase.

Here’s to good and safe Internet deals.

Coeur d’Alene, Idaho-based Ulf Wolf writes about cybercrime for Escrow.com.

Escrow.com, the major oneline escrow company is licensed to to provide services across the United States. Bay Weighs In

To quote the biggest online auction site of them all, eBay: “Pay safely – beware of fake escrow services when you consider using them to pay for your eBay item.

“For eBay transactions, you should use eBay’s only approved Escrow Company: http://www.escrow.com.”

Escrow.com, the major oneline escrow company is licensed to to provide services across the United States.

When it comes to automobile transactions, Escrow.com does go the extra mile (no pun indented), with services that include:

Title Transfer
Inspection Service
Vehicle Title Insurance
Vehicle and Motorcycle Transport
Vehicle History

Sleep well at night, use the online escrow service with proven record.

Tags: Crime, Cyber, Economy, Fuels

Identifying the Difference Between Good and Bad Loans

The media has been over-run with talk about mortgage and credit card defaults. Many homeowners have been scrambling to save their homes from foreclosure. Hearing all of this, we might begin to wonder whether there really is such a thing as a good loan.

Using credit is not always a bad thing. We just need to understand when it is appropriate. Loans make sense when they help us increase what we already have. For example, we can use a credit card for everyday purchases if we are buying things that are within our budget and if we are able to pay the entire balance off when the monthly bill arrives.

Using the credit card can do two things. First, it allows us to put our cash to work earning some interest while we borrow the credit card’s money for free. Second, many credit cards offer cash back bonuses, flyer miles, or other perks. There is nothing wrong with accumulating these perks if it doesn’t cost us in the process.

Another example of a good loan can be a mortgage or a home equity loan. We need to be careful here, though. We should only borrow when it is going to increase what we already have.

For example, we can pull cash out to purchase more property. Real estate has the potential to be a great investment. We can use the equity in our current home to buy a rental property that can essentially pay for itself. If time permits, we can also invest in fixers. These properties may just need a little work to significantly improve their market value.

Be careful

However, please be cautious. Only a very few properties make good investments. There are diamonds in the rough out there. It is not as easy as those workshops make it look. It requires research and doing a lot of homework to find the right properties that will build our wealth.

We should only borrow money against our properties if we know that we are able to put it into an investment that is earning more for us than the cost of the loan. Do not gamble with your home. Make sure the numbers are solid.

Bad loans

Any other reason for borrowing money would make it a bad loan. We should never use credit cards as a way to get things that we cannot afford. Instant gratification may feel good now, but the interest proves that it is not the best decision in the long run.

We should not use debt consolidation programs, home equity loans, or refinancing to pay off our credit cards so that we can run them up again. We also should not borrow against the home to remodel or buy new furniture. These large purchases should be planned in advance, and we should be saving toward these goals each month until we can afford them. That might mean doing one room at a time, but the cost will be significantly less than if we borrow money to do it.

Car loans and leases should also be avoided, if possible. Borrowing to purchase a depreciating asset is not a wise investment decision.

The loan that we need to be extremely careful with is the loan from a friend or family member. It is always best not to borrow from them. Misunderstandings and miscommunication about money can cause the relationship to fall apart. It can also damage relationships with other friends or family members who find themselves caught in the middle. If it does become a last resort, it is always best to put the terms of the agreement in writing just to make sure that everyone is on the same page.

Ozeme J. Bonnette is a financial coach, speaker, and author of Get What Belongs to You: A Christian Guide to Managing Your Finances. Her focus is on increasing financial literacy among adults and youth around the U.S. She earned 3 Bachelor’s degrees at Fresno State, and her MBA at UCLA’s Anderson School. Her blog is http://www.povertynorriches.com. Reach her at ozeme@thechristianmoneycoach.com.

Tags: Between, Difference, Identifying, Loans

Credit Card Counseling – Free Counseling For Students With Credit Card Debt

Credit card counseling is offered free of cost for students who are in need of help for their credit-card arrears. As student life should not be affected by the unnecessary burden of arrears, credit card counseling is preferred a lot.

Statistics reveal that students are quite happy with the benefits of credit cards. Because of this, many students are in possession of cards at an early age. Students feel that the attractive rates, the concept of earning points and miles, free goods supplied with cards, etc. related to the cards are so compelling. Some students even possess more than one credit card.

Because of the increasing number of credit cards that students possess, there is a high occurrence of arrears related to the credit cards. Students can manage a portion of the arrear by working part-time when they find some free hours. But when the arrear increases, the pay earned from part-time work will not be sufficient.

As credit rating is an important asset, some students will find credit card counseling a great source of help for dealing with arrears. As students usually have less cash at their disposal, they will appreciate the value of free credit card counseling. Free counseling is becoming popular as numerous students are being offered credit cards by the credit-card companies. The increased student customer base has led to more situations of arrear and also counseling.

For the counseling, the students can choose the company that is found in a relief network. It is important to make use of the counseling, if you are in need of consolidating the arrears. When you use relief networks, you will save a lot of time and money. Without much hassle, you will be able to find the names of companies. It will not demand much of your time too.

Students are always in need of low cost help as they have less money at their disposal. If such a help proves to be quite effective and hassle free, it is even more beneficial. You will find the companies that suggest you to consolidate arrears a good source of help. It will reduce the liabilities at a time when you need it the most. Financial burdens are quite bothersome for students as they do not have a steady income. Thereby, opt for free counseling, if you are a student who possesses lots of credit-card liabilities.

If you have over $10k in unsecured debt it would be wise to consider debt settlement. Creditors of unsecured debt are very concerned about collecting on their delinquent accounts and you can take advantage of this. Consumers and small business have never had a better opportunity to eliminate debt through a settlement process. To locate legitimate debt settlement companies in your state check out the following link: Free Debt Help [http://www.freedebtreductionhelp.com].

Tags: Counseling, Credit, Students

Airline Tickets and Travel to Vacation Destinations

If you are like most people who have received one of the credit cards offered by the airlines or one of the regular card options, it is highly likely that you are figuring out the best way to benefit from its rewards. This is not a bad decision, as it would make more sense to let the card assist with the paying of your travel expenses. One of the most effective ways to benefit with your credit card is to earn free Jamaica airline tickets.

When you are selecting your credit cards it is always best to opt for the ones that can be used with other business partners, which would mean more rewards for you. Some of the options will restrict you to earn points on specific airlines, while others can be used to get discount tickets in other ways that would be calculated on the cash value of the miles earned. Therefore, the cards with less restriction is the better option as it will allow you to get more discounts or even more free tickets.

Another factor to consider when you reviewing the credit card options would be the amount of money that has to be spent in order to benefit from free airline tickets. Most times the terms of use requires that you acquire a certain amount of miles to earn tickets or even depends on the dollar value to the miles. But, in any case it would be best to do your calculations and select the one that would suit you.

There are a number of other advantages that you can benefit from based on the attractive incentives that these programs offer. As I mentioned above, you could earn more than just travel miles as the credit card companies or the airlines will partner with other organizations. Most times all the rewards information is given to you when you sign up, so ensure that you understand all the available ways to save and earn more in order to take full advantage.

You could also save on other aspects of the vacation such as hotel or car rental reservations when the card is used with supporting partners. In addition, there are package deals that could enable you to save much more and reduce the vacation cost to next to nothing.

One of the easiest ways that travelers benefit from the rewards is to fly frequently and utilize the credit cards to charge for the tickets. This will accumulate the miles into thousands for a year, especially if you are a business traveler.

All in all, the benefits are great and even if you are not a frequent or business traveler there are ways for you to earn more than free Jamaica airline tickets from your accumulated miles. Some of the other ways to use the card and save is at the gas stations, pay for monthly groceries and bills or any other purchases or expenses that have to be paid on a month to month basis. Make the benefits work for you, earn free miles and get to travel at any time you desire.

Colin Scott is vacation and travel expert. For more great tips on discount travel to Jamaica and flights to Kingston Jamaica visit any of the links in this authors bio.

Tags: Airline, Destinations, Tickets, Travel, Vacation

Benefits Of Discover Business Card

Discover Business Card is designed to help users combine their entire debt into one credit card. This way, they can save quite a handsome amount on interest rates. Some offers also have an introductory offer of zero percent charge. Discover Business Card offers 5% Cash back Bonus on office supplies, around 2% on gas and 1% on other purchases.

Discover Business Card offers you an exhaustive set of free travel benefits, including travel support with Global Traveler’s Hotline. If you buy a travel ticket with the Discover Business Card, you will receive coverage of $1,000,000 in common carrier travel insurance.

If you use your Discover Business Card to for car rental, you can expect a car rental insurance amounting to $50,000, provided you do not take up the coverage offered by the rental agency. The card offers customized employee cards, having pre set limits and monthly reports on their spending pattern. Discover Business Card help you earn up to one mile every dollar you spend on card purchases. There are no restrictions. You can book your travel tickets from anywhere. Discover Cards value your time and money. Thus, they provide first-rate customer service to all customers. You can redeem your reward miles with ease. In case of any problem, customer support is always there to help you.

Discover Business Card- A Boon for Busy Individuals

Discover Business Card has come as a boon to those who have hectic schedules. People are forever traveling at a frantic pace. They do not have any fixed schedule. It is not possible for them to carry cash all the time. So credit cards are the sole financial savior for them. Credit cards have really changed the way people spend money. Initially, they might have been considered to be status symbols. But now, they are considered to be a necessity. There are a host of advantages that they offer. First and foremost, they allow you to buy things without having to pay instantly. There is a preset limit. You can spend up to that limit. You need not pay right there. The card provider pays for you and you can repay the provider later in installments. You can also pay at one go. Obviously, there is interest charges involved.

Discover Business Card has made life very easy for the users. They do not need to carry cash all the time. They are not restricted though. They can purchase whatever they want or spend any way they want to, with their credit cards. Before you use any credit card, it is essential for you to decide whether you want the card for use in emergency or you want to use it any time you want. Also, make up your mind on how much you want to pay as annual charges. You need to decide whether you intend to clear off your dues at the end of the month or you want to pay only the minimum balance and then carry on with the rest. Once you have decided on all the factors, you need to research thoroughly. It is always better to do your homework, before you zero in on any particular card.

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Tags: Benefits, Business, Discover