Credit card fraud rampant on social networks

The head of Queensland’s fraud unit, superintendent Brian Hay, has said at a Parliamentary inquiry that social networks are being used as a base for credit card fraud.

Hay said fraudsters are using credit cards bought on the black market, coupled with details from social networking sites such as Facebook. He said users are posting more intimate details about themselves, and neglecting privacy controls.

“It will come back to impact on them in a big way down the track,” he said. “There is a lack of appreciation of the dark side of the internet.”

Hey also said he wants a national, consumer-based database to help fraud victims, and that many fraud victims are still not reporting crimes to police.