By: Ryan Wilk – Director at NuData Security
Keep your customers out of the in-store bedlam and safe online. For e-tailers that use behavioural analytics and passive biometrics, and who know their genuine good, trusted users, give them added discount or lessen their authentication rules – make them VIPs for the day!
Don’t look for the needle in the haystack; focus on all that good hay instead! Passive biometrics and behavioural analytics lets you focus on the good users, the ones driving your business. Fraud will reveal itself.
Don’t overlook gift cards! Guessing gift card numbers or cycling through many gift cards is a sign of fraudulent activity. Treat them like you would any other payment method.
Watch out for “aged” online accounts that have never been used before suddenly become active. Cybercriminals are patient, and create accounts that sit dormant waiting for the perfect time to strike! They could have been planning this day for a long time.
E-tailers still have time to audit their website security in advance to test for load, security loopholes and account protection. Go in knowing what your system can handle and prepared for contingencies!
After the huge spat of breaches we saw this year, expect stolen account credentials will be used to create new accounts in preparation for the best deals. Fraudsters will use the chaos to cloak their fraudulent activities.
As mobile transactions continue to gain market share, cybercriminals will develop sophisticated strategies to target iOS and Android software for personal gain. Retailers accepting mobile transactions must have layered, preventative measures in place to differentiate between authentic and fraudulent transactions and protect against cybercrime.
Not only do online merchants need to be prepared for fraud activity during the peak online shopping days, but so do consumers shopping online. On Cyber Monday law enforcement agencies globally will be busy catching domain names owned by websites selling counterfeit goods. Consumers are also more likely to see phishing attacks, malicious pop-up ads and other scams as fraudsters know consumers are spending more time looking for great deals on Black Friday and Cyber Monday.
Shop only with merchants you trust! Trust goes both ways – shop at retailers that offer a passive, friction free experience. Why should you have to jump through hoops to prove who you are?