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Unleashed | The laissez faire nature of online theft

Is there a culture of covert tolerance when it comes to internet banking fraud? 
Russell Conway weighs up the cost of progress

22 August 2012

Starting the day, like many others, going through my emails and texts, there was a text from my bank alerting me to some form of activity on my account. Obviously I ignored it. I receive several of these every day and they generally tend to be from thieves who intend to lull me into a sense of security and then extract bank account details and dates of birth so they can steal my money. I think ?the practice is known, rather politely, ?as ‘phishing’.

Nevertheless, 20 minutes later I received a call from somebody who described himself as a fraud officer at the bank and he wanted to know if I had been sending money to a certain company. I had never heard of the company and asked him for more details. He told me not to worry as while the money had left the account, it would be replaced by the bank immediately. At that point I was heartily intrigued and asked him how much money was involved. “Are you sitting down?” he ...

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