Report: online bank fraud on the rise in UK

According to a recent story published in BusinessWeek, online bank fraud in the UK has increased by 55 percent during the first six months of the year.

One of factors contributing to the problem, according to industry group Financial Fraud Action UK, is that online malware and phishing scams are becoming more and more sophisticated. During the same six-month period in which online bank fraud increased, phishing incidents increased by a reported 26 percent.

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