To The eCommerce Merchant: 3 Proven Tactics To Combat Fraud as a Service
https://www.brighttalk.com/webcast/19324/529107 As we keep paying attention to those threat variants that are making the news headlines, it is also very important to note that there are other attack vectors out there that are just as much damaging, if not even more.
One such thing that you need to be aware of is Fraud. While there is nothing new about this, the way it has precipitated been mind blowing. It’s not just matter of having your wallet or purse stolen, now it is about your Digital Identity that is at stake.
With everybody working at home and even fewer people yet visiting the traditional brick and mortar stores, most of the American population are now shopping online. Heck, depending upon where you live, you can even have your groceries delivered to you. But making sure that you remain safe in the digital world, especially as it relates to eCommerce, is a difficult thing to do.
But to make things even more complicated, the Cyberattacker of today is now resorting to a new thing called “Fraud as a Service”. I think in the past I wrote something about “Ransomware as a Service”, and this is where the Cyberattacker can essentially hire a professional from the Dark Web and have the deploy the malicious for pennies on the dollar. Now is the same with Fraud.
In this regard, the Cyberattacker can make use of two attack vectors: Bots and Brand Impersonation. With the former, the hijacking of One Time Passwords (OTPs) is now the norm. In this scenario, the hacker already knows your login credentials, but they need that OTP to continue to complete the authentication process.
With the latter, you are redirected to a phony eCommerce site which looks like the real thing. This is often done through Phishing attacks or Domain Name Heisting (this is […]
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