By Liron Damri, COO, Forter
The holidays are just around the corner, and consumers and retailers all over the country have already started gearing up for this busy, exciting and important season. There’s another group that’s planning their campaign for the coming months, though, and unfortunately their agenda runs directly counter to everyone else’s. Fraudsters are already plotting how best to exploit the holidays for theft.
There are three things that online retailers need to know about fraud this holiday: It’s rising, it’s mobile, and it might hurt your good customers.
The Rise of Online Fraud
If you’re in online retail, or involved in the payments industry, you’ll be aware that online fraud has been rising over the last year. This hasn’t been a surprise—but the scale of the attack increase has exceeded expectations.
It was always probable that online fraud would rise after the EMV liability-shift date. Fraudsters keep a canny eye on their personal bottom lines, and they were as aware as any payments professional that card-present fraud was about to get harder. That being the case, it made sense that they would move to get ahead of the curve—in fact, they moved faster than the card networks.
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