Computers and Technology

Malware, short for malicious software, and crimeware, consist of various types of software, viruses, worms and Trojan Horses designed to run executable programs on your computer. These programs do not need your consent to operate, and are designed to harm or secretly access your computer and its information, causing your personal information to be transmitted to thieves. How Does Malware and Crimeware Theft Occur?

Either through email or website downloads, malware and crimeware install themselves onto your computer, and begin to run. Once they are running, they transmit your personal information, via the Internet, to remote computers, where your information is stored and sold at a later date to counterfeiters.


What Is the Cost of Malware and Crimeware Theft?

Out of more than 18 million computers scanned during April – June 2010, over half of these computers were infected with malware. Of these infections, more than 17% were Banking Trojans/Password Stealers, software programs designed specifically to steal the passwords and banking related information stored on your computer.1 And, according to an article from PandaLabs, a leading malware research organization, the total estimated cost in the US alone was approximately $1.5 billion in 2008.2

Information thieves can collect:

* Social Security numbers
* Passwords
* Email and street addresses
* Credit card and bank account numbers
* Logon IDs

What thieves can do with this information:

* Identity theft
* Employment-related fraud
* Loan fraud/payday loan fraud
* Bank fraud
* Benefit fraud
* Tax fraud
* Other identity fraud

Malware and Crimeware Statistics:

* Over 50% of scanned computers
* were infected with Malware and * Crimeware.1
* Banking Trojans/Password
* Stealers accounted for more than 17% of these infections.1
* The total estimated cost of US identity theft from malware in 2008 was estimated at $1.5 billion.2

Smartphones & Tablets

You don’t know how it happened, but somewhere between the Blackberry and the iPhone, you got addicted. The loving social media alerts, the persistent email notifications and that infuriating phantom ring (I swear I heard it beep). Ahh, the joys of owning a smartphone.

But you’re not the only one watching your phone’s every waking move. Identity thieves want nothing more than to crack into your smartphone and steal everything hidden inside—your personal information, passwords and data.

In fact, according to a report done by Javelin Strategy; Research, smartphone users are 35% more likely to experience fraud than the average consumer. One-third of smartphone and tablet owners save personal information on their devices, but only 16% have installed software capable of remotely wiping the device if stolen. That’s a lot of people carrying around an identity jackpot.

And identity thieves don’t necessarily need to steal your device to get the desired information. Thieves can hack into your smartphone when you’re on public Wi-Fi or send phishing text messages and emails You could even unintentionally download an application rigged with malware. According to the same study, users who have clicked on applications or checked in using GPS are even more likely to experience fraud. You wanted to be connected, but not to an identity thief.
Since detaching yourself from your beloved devices probably isn’t an option, we suggest making a few minor adjustments to your connected life.

1. Turn off your GPS. Do you really need to check-in?
2. Install security software. There are several credited programs out there that give you the ability to back-up your device’s data, as well lock and/or wipe it out if lost.
3. Enter the app store with caution. Not all applications are safe for download. Read user reviews and research the app developer.
4. Stay off public Wi-Fi (Unless you enjoy connecting with malicious hackers).
5.Utilize your phone’s lock and password function. This simple step could protect your phone from prying eyes.

If nothing else, keep in mind that your smartphone isn’t invincible and it doesn’t have super powers. So be careful what you store and be careful what you do.

Smartphone Data Theft

Be smarter than your smartphone.

According to comScore, 97.9 million Americans owned smartphones in the last quarter of 2011.3 Smartphone proliferation, including the iPhone, Android, Windows and Blackberry platforms, has certainly attracted the interest of thieves seeking to steal personal identity information.

A 2012 study by Javelin Strategy & Research found that 6.6% of smartphone users were victims of identity fraud in 2011, and were almost a third more likely to be victimized than the average consumer.4
If your phone is lost or stolen, others will have access to your data.

You’ll also have to be more careful with free applications because they could have bad intentions. And while downloading from legitimate, well-known app stores lowers the risk, it doesn’t eliminate it. So if your phone isn’t secure and you love to download those free apps from who knows where, you may be more vulnerable. Then, if you use your phone to visit social network sites, especially through public Wi-Fi, the risk could be even higher.
Tips to lower your likelihood of becoming an identity fraud victim.

Use secure passwords to protect your mobile devices (do it on home devices, too)
Don’t post personal information on social networks, it can be used for identity verification by criminals
Watch out for apps, no matter how good they sound; make sure they’re from a trusted source
Monitor your credit card use and check your statements

Smartphone operating system developers, including Apple, Android, Google, Microsoft, RIM and others, are working to patch security vulnerabilities. But the tenacity of identity thieves will continue to make the smartphone a major contributor to personal identity theft.

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Source(s): “2012 Identity Fraud Survey Report,” Javelin Strategy & Research, February 2012.

1 http://www.antiphishing.org/reports/apwg_report_q2_2010.pdf

2 http://press.pandasecurity.com/news/more-than-10-million-worldwide-were-actively-exposed-to-identity-theft-in-2008/

3 comScore Press Release, 2/2/12

4 Javelin Strategy & Research. “2012 Identity Fraud Survey Report.” 2/12.

† Federal Trade Commission. “Consumer Sentinel Network Data Book For January – December 2011.” February 2012.

† Javelin Strategy & Research. "2012 Identity Fraud Report: Social Media and Mobile Forming the New Fraud Frontier." February 2012. † Federal Trade Commission. “Consumer Sentinel Network Data Book For January – December 2011.” February 2012. † Javelin Strategy & Research. "2012 Identity Fraud Report: Social Media and Mobile Forming the New Fraud Frontier." February 2012.