Online Fraud – A Serious Concern for UAE Users

Global security provider Symantec conducted a survey to find that Internet users consider hacking and credit card fraud as the two most severe security threats. The survey involved 400 shoppers who regularly go to the Net for activities like banking, shopping and e-mailing. The con artists target Internet users of all generations and nations with the primary objective to make them part from their money.

Phishing has shown a rise in recent times. The activity refers to fraud e-mails purporting from banks and other financial institutions to lure recipients to reveal their passwords and other personal details. With growing phishing activity, particularly in UAE, people know better how online threats pose danger to personal information, said Kevin Isaac, regional director, Symantec for MENA region. AME Info published Isaac's statement on February 26, 2007. Therefore, the onus of right security lies on individuals themselves who need to choose the appropriate software that can protect their systems against Internet fraud, Isaac added.

From the group of 400 respondents, 53 percent use online banking service. Of these, 81 percent are worried about losing credit card confidentiality and also about fraudulent access of their online Web/ bank accounts. This figure is especially intriguing as 92 percent of the respondents have neither been targeted nor victimized by online fraud.

Although such attacks are a growing concern as is evident from Symantec's survey yet only 47 percent of respondents actually use proper security solutions as protective measures while surfing on the Internet. It appears that Internet users in the UAE think such solutions as complicated or inconvenient, which projects low knowledge of the easy-to-use solutions in the region, said Isaac.

However, a bulk of 83 percent of respondents have admitted that they would perform online transactions more if they got safer, easier, and more convenient security options.

Isaac cautioned users to be wary of serious risks involved with data and information stored on PCs and laptops, therefore, they should take adequate precautions before logging onto their web and online bank accounts. Internet users need to be more vigilant and take necessary measures to protect personal information.

Related article: Online Card Fraud Shows Greater Tendency Than Chip and Pin

» SPAMfighter News - 3/12/2007