Facebook Acknowledges Fraud Is A Problem

Web-based frauds have become a major issue of concern for social networking giant, Facebook.

Palo Alto, California-based Facebook is vying to find ways to out do hackers and scammers involved in money fraud with the data available on its website globally, following a series of incidences that came to light, reveals the Guardian.

"Now, if you're logging in from an unusual location you'll get extra security questions and if you want to login by a new device [Facebook] notifies you by SMS or email," Lord Richard Allan, chief of European public policy at Facebook told the British daily.

According to Allan, the company is experimenting with newer and more sophisticated methods to verify when the accounts have been hacked, in order to issue a prior warning to the registered user via SMS or email service.

The notification is generally issued, when the account is accessed in a manner and location different to the usual process.

Coincidentally, yesterday, we witnessed how the security process worked in real life and after having successfully identified pictures, found out that a person in Poland tried to access someone else's Facebook account.

A spokesman for Facebook, also stated that the company runs an automated security system that marks accounts on its website that are more likely to be compromised at the hands of hackers and frauds.