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Posted May 6, 2013
Online Merchants Alarmed By Rise in Identity Theft and Account Takeover Attempts
San Jose, CA – May 6, 2013 – ThreatMetrix™, the fastest-growing provider of integrated cybercrime prevention solutions, today announced that it is hosting a complimentary, one-hour webinar on “Account Takeover Fraud: The Newest Threat to Online Business,” which will take place at 10 a.m. PDT on Thursday, May 9.
The webinar will be led by Andreas Baumhof, chief technology officer, ThreatMetrix, and Julie Conroy, senior research director, Aite Group, an independent research and advisory firm focused on business, technology, and regulatory issues and their impact on the financial services industry.
Account takeover attacks are an increasing threat to online businesses. Although many financial institutions have implemented anti-takeover strategies, cybercriminals are now using these techniques to attack e-commerce merchants and other online businesses. According to a 2012 survey conducted by the Merchant Risk Council, two of the top online fraud threats experienced by e-commerce merchants were account takeover and identity theft. As more customers set up and use online accounts to expedite purchases, it is becoming more profitable for fraudsters to develop strategies to access and exploit them.
“Account takeover is sharply on the rise for e-commerce merchants, eclipsing stolen card fraud for many thanks to the vast quantity of compromised identities provided by recent database breaches,” said Conroy. “Online merchants need to adjust their defenses to protect themselves and their clients from this rapidly growing attack.”
To defeat account takeover attacks and identity theft, businesses need to know the risks, understand attack methodologies, and deploy effective solutions to identify and stop attacks. The webinar will educate attendees on the following:
• The latest research on account takeover threats to e-merchants
• What e-merchants can learn from banks about account takeover attacks
• What you should know about account takeover risks to online businesses
• Techniques cybercriminals use to deploy account takeover attacks
• How you can use risk analytics and shared global intelligence to stop attacks in real-time
“Using ThreatMetrix’s TrustDefender™ Cybercrime Protection Platform, e-merchants can identify a variety of attacks designed to steal user account credentials – the precursor to e-commerce fraud,” said Baumhof. “Our platform detects Trojans, phishing attacks, man-in-the-browser (MitB) attacks and other threats to Web-enabled devices, including computers, smartphones and tablets. By using our account takeover prevention solution, e-merchants can gain instant visibility into the integrity of their user accounts and credentials.”
To register for the complimentary webinar, please visit: https://www1.gotomeeting.com/register/426074017
ThreatMetrix is the fastest-growing provider of integrated web fraud and cybersecurity solutions. The ThreatMetrix 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 8,500 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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