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Posted March 20, 2013
Cybersecurity Leader to Demonstrate How e-Commerce Merchants Can Prevent Payment Fraud, Account Takeover and Identity Theft
San Jose, CA – March 19, 2013 – ThreatMetrix™, the fastest-growing provider of integrated cybercrime prevention solutions, today announced that it is presenting and exhibiting in booth 1010 at the 2013 ANNUAL MRC e-Commerce Payments and Risk Conference, March 25 – 28, at the Aria Resort in Las Vegas.
The Merchant Risk Council (MRC) is a merchant-led non-profit trade association focused on electronic commerce risk and payments globally. The MRC leads industry networking, education, benchmarking and advocacy programs to make electronic commerce more efficient, safe and profitable.
According to a 2012 survey conducted by CyberSource and MRC, two of the top online fraud threats experienced by e-commerce merchants were account takeover and identity theft, each often the result of malware targeting a merchant through their customers. Using 2012 industry market projections, CyberSource’s “2013 Online Fraud Report” estimates that total revenue loss on e-commerce sales in North America translates to approximately $3.5 billion.
“With both reputations and real dollars hanging in the balance, it’s imperative for e-commerce merchants to prioritize the implementation of multi-layered cybersecurity programs to protect their organizations and create highly effective online retail experiences,” said Andreas Baumhof, CTO, ThreatMetrix. “Cybercriminals have targeted e-commerce merchants with malware designed to deliver access to customer data and other restricted information. Criminals are ramping up their attacks with new variants of the Zeus Trojan – advanced malware that allows cybercriminals to seamlessly intercept customer data at the time of checkout.”
Baumhof will co-present a session on “How to Battle Account Takeover and Identity Theft” at 1 p.m. PST on Tuesday, March 26, along with a representative from a leading e-commerce ticket sales provider. The executives will share real world experiences about preventing online fraud. Seminar attendees will also learn how ThreatMetrix benefits e-commerce merchants by helping them to:
• Identify good customers vs. cybercriminals using stolen credit cards
• Shrink chargebacks and fees from transaction fraud
• Detect sophisticated malware, botnet and phishing attacks
• Reveal hidden proxies, VPN usage and true geo-location
ThreatMetrix®, The Digital Identity Company®, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix Digital Identity Network®, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. Key benefits include an improved customer experience, reduced friction, revenue gain and lower fraud and operational costs. The ThreatMetrix solution is deployed across a variety of industries, including financial services, e-commerce, payments and lending, media, government and insurance.
Walker Sands Communications