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ECT News Community   »   E-Commerce Times Talkback   »   Re: Breaking the Fraud Chain



Re: Breaking the Fraud Chain
Posted by: Robert Capps 2018-07-01 11:23:03
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Retailers' biggest worry is increasing e-commerce fraud -- including data breaches, targeted attacks and card-not-present fraud -- according to a report from the Federal Reserve Bank of Minneapolis. Online fraud is one of the biggest challenges facing retailers, with CNP fraud being one of their top worries. CNP fraud will hit $71 billion over the next five years, Juniper Research has forecast, as it is an easy way for cybercriminals to access money, products and services.


Re: Breaking the Fraud Chain
Posted by: marina_gnatuk 2018-07-06 06:37:41 In reply to: Robert Capps
Great article!

I believe that e-commerce payment systems are the most vulnerable when it comes to online fraud.
Given this, I'd like to add a few recommendations for all those willing to keep their security level high.

Since I'm working in fintech industry, I'd like to recommend users how to choose a payment service provider properly:

1. As security is the key, a a payment gateway provided by a reliable PSP should be PCI DSS compliant.

2. PSP's terms and conditions should have no hidden fees / obscene cancellation fees.

3. In the times of growing competition, it's better to use the services of a PSP providing many integration options & currency processing opportunities.

Hope this information will be helpful!

Re: Breaking the Fraud Chain
Posted by: exclusivethesis 2018-07-03 04:19:19 In reply to: Robert Capps
Inactive biometrics and social investigation give retailers setting for computerized exchanges and the capacity to stop strange exchanges previously they happen. Clients advantage from a consistent ordeal, while associations pick up the extra affirmation of verification.

Retailers and online business associations that utilization multilayered security procedures with inactive biometrics and social investigation adequately can affirm honest to goodness clients with pinpoint precision, without depending on certifications that may have been stolen. Client examples and practices can't be repeated by cybercriminals utilizing stolen certifications or card subtle elements, which degrades stolen information and breaks the misrepresentation chain
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