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65% Indian Businesses Witness Rise in Online Fraud: Report

The study showed 65 per cent of the Indian consumers expect full transparency from businesses about use of their personal data

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Over the past one year, 65 per cent of Indian businesses have experienced increase in online fraud-related losses, including account takeover attacks and fraudulent account openings, says a report.

In India, 87 per cent of businesses expressed heightened concern about the potentially damaging impact of fraud, said the study by data analytics comapny Experian.

With insights from almost 6,000 Asia Pacific consumers, including India, the report found that the majority (71 per cent) value security as the most important element of an online experience, followed by convenience (15 per cent) and personalisation (14 per cent).

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Most fraudulent companies do not offer revisions, and when they do, they try to rip you offer again by asking you to pay for further editing. Pixabay

“While companies continue to innovate on new solutions that enhance the customer experience, there needs to be a focus on reducing the customer’s risk exposure by securing the data and information they currently access,” said Sathya Kalyanasundaram, Country Managing Director, Experian India.

The study showed 65 per cent of the Indian consumers expect full transparency from businesses about use of their personal data.

The report titled “2019 Experian Identity and Fraud Report: Asia-Pacific Edition” highlighted that trusted online relationships are based on businesses providing both a secure environment and seamless consumer experiences. (IANS)

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A Quick Guide to White Collar Crime

Take care that you never fall victim to a white collar crime and don’t be afraid to report it to the police if you do

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Cyber crime, U.S. programming
A man types on a computer keyboard in front of displayed cyber code in this illustration picture. VOA

There are many different types of crime all with their own legal definitions and police proceedings. This is because depending on the crime, it will have to be handled in the correct way. White collar crime is one type of offence which is often spoken about as individual crimes but never as one whole genre. What do we mean by white collar crime? Let’s take a look.

What is White Collar Crime?

White collar crime includes; theft, fraud, identity theft and forgery as well as many other types of crime that involve money and are nonviolent. The FBI deals with these crimes in the US, however in the UK, the police will be involved and then will be transferred to a team depending on what the nature of the crime is. There are many different branches of police which deal with these offences, from Vice to the National Crime Agency.

Theft

There are some different types of theft that you can fall victim to, for example, theft of personal belongings, shop goods, robbery, armed robbery and many others. Each of these types of theft can cause a lot of stress to a person and it can be difficult to deal with. When you fall victim to theft, it is always important to report it to the police straight away to make sure the incident can be dealt with as soon as possible. Try to leave the scene of the crime as untouched as possible as that will help the investigation.

Fraud

Another type of white collar crime is fraud; this can happen to anyone and can be done in a number of ways. All it takes is for you to enter your details into a fake website where someone can then access your details and pretend to be you, which means you can then end up losing money. Never open a link in an email if you don’t trust it and always be sure that you don’t give out valuable information like bank account details over the phone.

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There are many different types of crime all with their own legal definitions and police proceedings. Pixabay

Forgery Crimes

Like the rest of the white collar crimes, you will find that there are many different ways you can be a victim of forgery crimes. This is because people can forge art and archaeological artefacts and sell them on to buyers at the same price or more than what an original piece would cost.

People also forge items such as documents, designer brands, and even money. When it comes to forgery, sometimes it is impossible to tell if the item is real or not which makes it so hard to tell without expert help. In order to avoid falling victim to a forgery fraud, only purchase items from well-known sellers or seek expert advice before purchasing. Most high-end brands will be able to provide a list of their third-party stockists.

Also Read- Asian Markets Fall Steeply over Signs of Escalating US-China Trade Tension

In Conclusion

Overall, white collar crimes might not always be life-threatening crimes as much as some other crimes can be; however, they can still cause huge stress or impact on the victim’s life. Take care that you never fall victim to a white collar crime and don’t be afraid to report it to the police if you do.