Net Scams Not Slowing Down

FORBES -- Nov 1 -- Consumers reported that they handed over $1.1 billion to scammers in 2006 according to the FTC, up from $570 million in 2004. Worse, the FTC estimates only 10% of fraud victims actually report.  The most prevalent is general merchandise fraud (goods not delivered) followed by auction fraud and then by fake-check scams. (A victim is sent a very real looking cashier's check that bounces a week later.)  Another scam, Love Schemes, takes advantage of lonely people on dating sites. Finally there is phishing and the new vishing, a phone version of phishing where the victim is instructed to call a phone number and give personal information to someone representing themselves as a familiar company. FULL ARTICLE @ FORBES

Mark Brooks: iovation (my client) allows subscribing internet dating and SNS sites to identify devices and share information about the reputation of those devices... and catch scammers at the gate.