On the internet, a lot of us are open books. We divulge our location, tag our family members, birth date, interests and more to â€˜friends’. That information can easily be used by potential hackers with malicious ends.
To illustrate this point, a Belgian Bank demonstrates just how easy it is to steal the identity of an average guy.
Watch the video (and then maybe recheck the privacy settings on your social media accounts). You might think that you’d never fall for something like this, but in Malaysia alone, victims lost a total of Rm1.6bil (S$641 million) to scams in 2012.
Online fraud will be one of many topics we’ll be discussing at Total Payments Asia. Do you think Asia is as vulnerable to online payments fraud as other regions in the world? Join the conversation in Bangkok this October 8-9 by registering and signing up for a roundtable session! Send me an e-mail via email@example.com if you want more details.