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Financial Services Compensation Service Gives Fraudsters A Helping Hand

The Financial Services Compensation Service has just announced the mechanism for icesave customers to get their money back from the financially troubled Icelandic bank. The sad fact is however, that in doing so they have opened up the opportunity for fraudsters to target each of the 230,000 savers, worse still they have even told the fraudsters how to do it!

Proudly declaring that each of the savers will receive two emails and that they will have to login to their existing icesave account to nominate and give details of their alternative account which is to be credited with their savings. Creating an expectation that an e-mail will be received where the worried icesave customers must give away other banking details.

Whilst the banking code allows communication with customers by email, most banks actively discourage its use, as fraudulent emails giving fraudulent website links are prevalent throughout most email inboxes. “Putting savers who are desperate to get their savings back at this level of additional risk is inexcusable,” says David Holman, Director at First Cyber Security a company who specialise in assuring the authenticity of websites on behalf of consumers. Recent figures released by APAC’s, the UK Payments authority, show that 18% of people still select website addresses from emails they receive without realising that they could be giving their personal information to a fraudster.
“It is so easy to set up a copy of an authentic website and send out mass emails and have consumers believe them to be real” continued Holman. “Many major organisations that wish to protect their brand integrity and continue the trust they have built with their customers to their online experience, need to consider a failsafe method of building in trust and consumer confidence using the very latest third party trust mechanisms which are now available.”

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Notes to editor:

About FCS
First Cyber Security is a UK based company who have patent pending technology in the area of authentication of IP communication. The subscription service allows consumers to positively validate Company websites and warns them of fraudulent ones immediately, protecting their personal information from being stolen. Financial, retail and government organisations are seeing this service as a way to preserve their brand integrity and extend consumer trust to the internet. The service has no cost to the consumer.

For further details please call
David Holman at First Cyber Security on 08450 564232 www.firstcybersecurity.com

Or PR Contact: Yvonne Eskenzi at Eskenzi PR on 020 71832 832 email Yvonne@eskenzipr.com