Beware of Cyber Threat Monday and Black Friday

Cyber-fraud is accelerating at this time of year. As consumers flock to take advantage of the best deals in stores and online, security teams are reduced and everything focuses on increasing sales volume. In all this frenzy, the fraudsters believe that they have a good chance of intervening.

Online retail sales in the US surpassed $ 3.3 billion this year on Black Friday alone, according to the Adobe Digital Index, while UK consumers are expected to spend over 4 billion pounds on the four-day Friday to Monday in stores and online.

The increase in fraud with the non-present card becomes worrying because it is a new behavior of fraudsters in the virtual world of online sales or mobile phones.

Credit card data are stolen and sold on the black market. Mules are then used to purchase items online, for example, gift cards, televisions or computers. Data theft is carried out using 3D skimmers which are surreptitiously placed in three seconds on the tape drive of unattended payment terminals in stores.

Merchants must therefore remain on alert, and check their card readers every hour rather than once a day. Another solution is to put a tape on the device. NuData Security detected more than double of sophisticated attacks this month compared to the same period last year. There are expected to be 82 million fraudulent attempts to pay during the holiday season this year, more than $ 50 million than last year.

Artificial intelligence systems can detect cybercriminals, tracking requests for payment from an automated robot or high value purchases sent abroad. Waiting for consumers to become accustomed to using strong and unused passwords is not realistic. Retailers must assume even greater responsibility to protect their brand and users. Online commerce must develop a technology that effectively differentiates good customers from bad ones. See as well http://clic.newsletters.ft.com/    https://letstalkpayments.com/

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