- News & Events
July 23, 2013
Did you know there was a time when there was no cybercrime during the summer? Of course, that was when there wasn’t an Internet. Today, there is an Internet (okay, you knew that) and there is cybercrime in the summer. Make that rampant cybercrime.
A recent Orbitz.com study pointed out that 77 percent of consumers are planning summer getaways this year. But, instead of turning to travel agents or waiting in line at ticket windows, consumers are taking advantage of a vast array of travel Websites and apps to make airline and hotel reservations, buy tickets and arrange for all the myriad activities people do on their vacations.
“While digital ticketing is much more convenient for today’s consumers, they must take extra precaution when purchasing online due to payment fraud, identity spoofing and malware risks,” said Alisdair Faulkner, chief products officer, ThreatMetrix. “Summer is the time of year for travel, concerts and music festivals, and fraudsters always go where the money is. The last thing you want this summer is to get scammed by a fraudster when planning a family vacation.”
Vacationers aren’t the only ones making plans this summer season. Following are cybercriminals’ idea of fun and games over the holiday.
• Ticketing scams – Nearly five million people a year purchase concert, sporting event and theme-park tickets which turn out to be fake. Using Websites and reseller sites such as Craigslist, cybercriminals sell hot tickets (hot in more ways than one) for high-demand events. Tickets are fake and customers are left out in the cold for the event.
• Nonexistent vacation rentals – Consumers must beware of suspicious sites and emails offering vacation rental deals from third-party sources. Cybercriminals often set up fraudulent online travel agencies to con vacation-goers. Once a customer books advance tickets, the cybercriminal simply takes the money and runs. This is especially risky as consumers increasingly use vacation home swapping Websites, a prime target for cybercriminals.
• Email hacks – There have been several high profile email hacks in the past year – including Yahoo!, Gmail, AOL and Hotmail. These jeopardized hundreds of thousands of email addresses. Given today’s shift to online buying, most tickets and travel confirmations are sent via email. A hacked email allows a cybercriminal to print and resell concert and other event tickets.
This summer, consumers aren’t the only targets of cybercriminals. Ticketing and travel and accommodation sites have to deal with the rising number of stolen credit cards. This year, U.S. consumers will spend $84 billion on hotel stays alone – most of which will be booked online and have to be screened for phony purchases. Summer travel and tourism businesses have to do extensive credit card screening looking for suspicious transactions. The best way is to leverage data from a collective network to weed out digital criminal identities from among legitimate customers. That’s the service the ThreatMetrix Global Trust Intelligence Network (The Network) offers. The Network analyzes more than 350 million monthly transactions for account takeover, payment fraud and identity spoofing attempts without inconveniencing authentic users.
“By leveraging the data of a collective network, online ticketing sites and travel agencies can assure their customers have fun in the sun without getting scammed by cybercriminals,” said Faulkner. “Once sophisticated cybercriminals figure out a way to compromise one travel or tourism business, they can easily target more players in the market. This collective threat requires a collective response such as a real-time threat intelligence network.”
ThreatMetrix is the fastest-growing provider of integrated web fraud and cybersecurity solutions. The TrustDefender™ Cybercrime Protection Platform helps companies prevent unauthorized access to web and mobile applications, protect sensitive data, and secure transactions against account takeover, payment fraud, identity spoofing, malware, and data breaches. ThreatMetrix protects more than 1,500 customers and 9,000 websites across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government, and insurance. For more information, visit www.threatmetrix.com or call 1-408-200-5755.
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Posted by Dan Rampe
Tags: Account Takeover, Bank Fraud, CNP fraud, Cookieless Device Identification, Cookies, Credit Card Fraud, Cyber attacks, Device Detection, Device Fingerprint, Device Fingerprinting, Device ID, Email Hacks, Fraud Prevention, Identity theft, Malware, Malware Protection, MitB, Mobile fraud, PII, ThreatMetrix, ThreatMetrix Global Trust Intelligence Network, Ticketing Scams, Web Fraud