- News & Events
September 4, 2013
What could be done with the $3 billion cybercriminals skim from the $1.2 trillion e-commerce market? Well, it could help pay down the national debt. Whoa…hear that? That’s Congress laughing. Now, let’s get real. What could be done with $3 billion, the equivalent of the annual household incomes of 60,000 American families?
Well, $3 billion could buy five million Kindles from Amazon, 15 million cases of paper from Staples, three million iPhones from Apple, or 600 million colored pencils from Walmart — not to mention treat every man, woman and child in Russia and China to a Taco Bell dollar menu meal and still have $1.5 billion left over for Alka-Seltzer.
There are a number of precautions e-tailers and online consumers can take to keep cybercrooks at bay.
E-tailers should screen transactions for suspicious activity such as spoofed browser settings, or proxies that hide customers’ true locations using a global intelligence network. (The ThreatMetrix Global Trust Intelligence Network , known as The Network, is the security industry’s most comprehensive repository of information available for screening prior transactions and site visitors.) Also, transaction activity should be encrypted while in transit as well as on the company servers.
For their part, online consumers should only conduct business on websites with good reputations that have secure, encrypted checkouts. And, consumers should use unique usernames and passwords at different sites. That way if one site is breached, it doesn’t affect all online activity. Last, but not least, never enter credentials—especially bank or credit card information—when using a public WiFi network like Starbucks’ for example.
To learn more about e-commerce cybercrime, visit the ThreatMetrix website for an infographic titled “Don’t Let Cybercriminals Steal Your E-Commerce Sales” – http://www.threatmetrix.com/resource-center/infographics/dont-let-cybercriminals-steal-your-e-commerce-sales/
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 1,900 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, Account Takeover Fraud, Bank Fraud, Botnets, CNP fraud, Cookieless Device Identification, Cookies, Credit Card Fraud, Cyber attacks, Device Detection, Device Fingerprint, Device Fingerprinting, Device ID, Device Identification, Fraud Prevention, Hacking, Identity Spoofing, Identity theft, Malware, Malware Protection, Man-in-the-Browser Detection, MitB, Mobile fraud, Online Fraud, PII, ThreatMetrix, ThreatMetrix Cybercrime Protection Platform, ThreatMetrix Global Trust Intelligence Network, TrustDefender Cybercrime Protection Platform, Web Fraud