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Our TransUnion State of Omnichannel Fraud Report reveals how fraud has increased in 2023, with 13.5% of all global digital account creation transactions suspected Digital Fraud and account takeover topping the list of most common fraud types. Download the report to explore trends and insights for implementing smarter, more effective fraud prevention strategies that build consumer trust by demonstrating safety in omnichannel customer experiences. https://lnkd.in/dmaPJviq #TruValidate #digitalfraud #fraudtrends #fraudprevention #cybercrime #ATO #syntheticidentityfraud

Online retailers must prioritize fraud prevention and consumer safety. Malwarebytes' Jérôme Segura covers emerging threats, an action plan for retailers, the importance of a secure digital checkout, and more in Tech Radar.

HOLIDAY RISKS: SHOPPING SCAMS IN RETAIL, TRAVEL AND HOSPITALITY https://lnkd.in/eU_un6ge This post was originally published here by  (ISC)² Management. UPS, FedEx, USPS and other delivery workers have been on overdrive for weeks. Online shopping can ease the stress of the season, but is it safer to confront the crowds? Let’s be honest, consumers are not waiting until off hours to fill their digital carts. Hackers prey on the knowledge that it’s ever more difficult for end users to distinguish the difference between fraudulent and valid emails, which presents security issues to the enterprise as well. For the cybersecurity of end users (and the companies where they work) many headlines this […]

HOLIDAY RISKS: SHOPPING SCAMS IN RETAIL, TRAVEL AND HOSPITALITY https://lnkd.in/eH7XZNZP This post was originally published here by  (ISC)² Management. UPS, FedEx, USPS and other delivery workers have been on overdrive for weeks. Online shopping can ease the stress of the season, but is it safer to confront the crowds? Let’s be honest, consumers are not waiting until off hours to fill their digital carts. Hackers prey on the knowledge that it’s ever more difficult for end users to distinguish the difference between fraudulent and valid emails, which presents security issues to the enterprise as well. For the cybersecurity of end users (and the companies where they work) many headlines this […]

Share this post to spread awareness and protect your network from falling victim to these sophisticated scams. #ECommerceFraud #OnlineSecurity #CyberAwareness #DigitalSafety #FraudPrevention #StaySafeOnline

Register here → bit.ly/4cv6UWz In 2023, global retail e-commerce sales reached an estimated $5.8 trillion and are expected to exceed $8 trillion by 2027. This rapid growth also presents new opportunities for fraudsters. According to Nasdaq, fraud scam losses totaled $486 billion globally. With the rise of card cycling, account takeovers, and other transaction fraud strategies, it's increasingly challenging to balance an exceptional, low-friction customer experience with robust fraud prevention measures. Join James Sibbick from Mastercard on July 24th for a networking lunch at Bossley Private Dining Melbourne, where we'll provide actionable advice on implementing effective fraud-prevention strategies. Learn how to set your good customers down a low-friction path while stopping fraudsters at the door. Admission is complimentary for eligible participants. Ranit Das Senjuti Ghosh Saket Bengani Sandeep Sivaram Mitch Speers Ashutosh Prasad #EcommerceFraud #FraudPrevention #RetailTech #CyberSecurity #FraudDetection #TransactionSecurity #AutomatedRiskAssessment #EcommerceGrowth #LowFrictionCX #RetailStrategy #SecureTransactions

Canadian business continues to ignore the threat of #cybercrime. A recent study shows 55% of local SMB’s where attacked last year and 54% of those paid a ransom. Protect your business; start with cyber assessments & testing. Investigate recovery strategies.

🌐 💳 Just as the e-commerce sector takes over the global economy the threat of e-commerce fraud also grows in proportion. According to Forbes, US$41 billion was lost within the year 2022 for e-commerce fraud. In an era where digital transactions are the norm, safeguarding businesses and consumers from fraudulent activities is paramount. On the flip side, e-commerce fraud has brought attention to another market sector; the e-commerce fraud detection and prevention market. It is estimated that this particular market sector will reach US$69 billion by 2025. E-commerce fraud takes various forms, from account takeovers to payment fraud. It's crucial for businesses to stay vigilant and implement robust security measures. Employing multi-factor authentication, encryption technologies, and AI-powered fraud detection can fortify defenses against malicious actors. Consumers also play a pivotal role in fraud prevention. Being aware of phishing attempts, regularly updating passwords, and monitoring account activities are essential habits. Collaboration across the e-commerce ecosystem is key. Sharing threat intelligence, adopting industry best practices, and staying abreast of emerging fraud trends foster a collective defense. Let's work together to create a secure and trustworthy digital marketplace. By prioritizing cybersecurity, we can ensure that e-commerce continues to thrive, providing a safe and seamless experience for businesses and consumers alike. . . . #eCommerce #CyberSecurity #eBusiness #OnlinePayments #DigitalTransaction

🚨 E-Commerce Fraud Awareness Alert 🚨 In the digital age, e-commerce has become a cornerstone of our shopping habits. However, with great convenience comes great challenges, particularly in the form of various frauds that threaten both businesses and consumers alike. Here's a quick rundown of the top five e-commerce frauds to watch out for: 1. Click Fraud: Artificially inflated clicks on ads drain marketing budgets and distort campaign insights, affecting advertisers directly. 2. Bad Bot Activity: These malicious bots can perform harmful tasks, from data scraping to creating fake accounts, undermining website functionality and user trust. 3. Order Fraud: Using stolen payment details, fraudsters place orders, leading to financial losses and chargebacks for merchants when discovered. 4. Ad-Injection: Unsolicited ads injected into websites not only divert revenue but also ruin the user experience and can lead to brand damage. 5. Customer Hijacking: Through phishing and malware, customers are redirected, resulting in lost sales and compromised personal data security. 🛡️ How to Stay Protected 🛡️ Awareness is the first step. By understanding the tactics used by fraudsters, businesses can implement stronger security measures and consumers can shop more safely. Regular monitoring, secure payment processing, and educating your team and customers about these risks are key to mitigating the impact of these frauds. Let's create a safer e-commerce environment together! Share this post to spread awareness and protect your network from falling victim to these sophisticated scams. #ECommerceFraud #OnlineSecurity #CyberAwareness #DigitalSafety #FraudPrevention #StaySafeOnline

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