With the rise of technology, fraud has become a serious issue for all individuals. There are certainly ways to protect yourself and reduce the risk of the headaches that fraud brings. Luckily, there is a lot of information on the topic with red flags to look out. We have collected information from outside sources for the most relevant fraud topics in 2018.
"To ensure your security, you should never make purchases with your card over the phone, by text or email. When it comes to online shopping, only make purchases through secure websites and never when you’re connected to public Wi-Fi."
"Welcome to the modern, more sophisticated version of the decades old 419 scam -- a type of advance-fee fraud named for the criminal code where the scam first emerged. Today, the stakes have never been higher -- because new commerce platforms enable fraudsters to reach you in more ways, the dollar amounts involved keep rising and the liabilities have increasingly shifted to hit those who do business online hard."
"Small businesses that have reported fraud suffered a median loss of $150,000. That kind of hit can break a business. While successful owners must surround themselves with an exceptional team, they also need to firmly control their financial processes. The trap that many owners fall into is over-relying on delegation, particularly during periods of expansion. When owners are too hands-off with business financials, the potential for fraud and detrimental loss rises."
"Behaviors that are used as flags to aid fraud prevention for desktops may not fully be applicable for the mobile experience. Ninety percent of merchants are reported to use the same fraud prevention tools across channels. This may be creating a major blind spot that could allow mobile ecommerce fraud to thrive if left unchecked."
"Hackers will scam consumers by posing as legitimate sources like eBay or Amazon, and Google cites that cybercriminals successfully entice unsuspecting victims an alarming 45 percent of the time. When it comes to holiday shopping, some of the greatest security risks for consumers fly under the radar. Particularly during the winter months, shoppers tend to let their guards down during the search for finding the perfect holiday gift. For example, if a shopper searches for 'Star Wars toys' and 'coupons,' this may lead to a malicious link or bad URL that seeks to steal information."
"Making credit and debit cards smarter made the crooks smarter. They stopped using cards with EMV technology in brick-and-mortar stores. Even the thieves knew that using one of the new EMV cards in a store was quickly going to get the card shut down."<<< Return To Blog