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Google Encourages Increased Consumer Security with Free Phishing Quiz

Published on February 1, 2019, by fraudpractice in Fraud Prevention, Industry News, Technique Refreshers.

In partnership with another Alphabet group company, Google recently released a way for consumers to test their skills in detecting phishing emails. It includes eight simulated emails based on characteristics of real phishing attacks, where the user is to indicate whether each email is legitimate or fake.

According to a recent survey, 83 percent of those who deal with phishing attacks against their organizations say they are increasing. The fraud solution provider market is addressing this need with phishing simulation services that help organizations identify employees most likely to fall victim real phishing attacks and provide them training.

Tags: account takeover, ATO, ecommerce fraud, identity fraud, malware, pharming, phishing, phishing simulation, phishing simulator, ransonmware, spear phishing, spyware

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InfoSec Professionals Report Increase in Phishing and Incidences Leading to Compromised Accounts

Published on February 1, 2019, by fraudpractice in Fraud Prevention.

According to a recent survey from ProofPoint, more than 80 percent of information security (infosec) professionals saw an increase in phishing attacks in 2018 while nearly two-thirds reported an increase in spear phishing. Meanwhile, those who reported compromised accounts as a result of phishing attacks increased from 38 percent of infosec professionals in 2017 to 65 percent today.

In this context, phishing refers to fraudulent emails targeting an organization’s employees from an outside or untrusted source, and 83 percent of infosec professionals surveyed say these attacks increased last year. Nearly half of respondents reported malware infections as the result of phishing attacks mimicking their organization and 65 percent reported compromised account credentials. This is according to the 2019 State of the Phish Report from ProofPoint.

Tags: account takeover, malware, phishing, Ransomware, spear phishing, spyware

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Nearly 450 Million Consumer Records with PII Exposed in 2018

Published on February 1, 2019, by fraudpractice in Data Breach.

According to the Identity Theft Resource Center, who just released their 2018 End-of-Year Data Breach Report, the number of data breaches fell by nearly 25 percent compared to 2017, but the number of compromised records containing personally identifiable information (PII) more than doubled to 446.5 million.

Although the total number of data breaches declined in 2018, according to the Identity Theft Resource Center (ITRC), it was still the second highest number of data breaches reported in one year since the ITRC has been keeping track.

Tags: data breach, ecommerce fraud, Fraud Stats, identity fraud, identity theft, PII

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Cyber Monday and Black Friday Reach Record Highs Totaling More Than $14 Billion in Online Sales

Published on November 28, 2018, by fraudpractice in Industry News, Sales Conversion.

Cyber Monday 2018 was the largest online shopping day recorded in the U.S. with $7.9 billion in sales volume, according to Adobe Analytics. Online sales on Black Friday grew 24 percent from 2017 to $6.2 billion this year as mobile shopping and pick-up in-store saw the largest growth.

While Cyber Monday online spending increased about 20 percent year-over-year, mobile payment transactions represented $2.2 billion of the $7.9 billion sales total for the day. Mobile spending was up nearly 56 percent from Cyber Monday 2017. Adobe additionally estimates that online sales on Thanksgiving Day reached $3.7 billion, an increase of 29 percent from 2017.

Tags: black friday, cyber monday, ecommerce, eCommerce retail, ecommerce sales, mobile payments, omni channel

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Consumers More Concerned with Fraud than Overspending During Holiday Season

Published on November 28, 2018, by fraudpractice in Industry News, Sales Conversion.

A recent survey from CaptialOne found that 26 percent of consumers believe Cyber Monday is the riskiest day of the year to shop online while 85 percent of US consumers believe the risk of identity fraud is elevated during the holidays. Financial fraud was the top concern amongst Americans, surpassing consumers who were most concerned about potentially overspending during the holiday season.

Tags: cyber monday, ecommerce, identity fraud, identity theft

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Alibaba’s Singles Day Sales Exceed US Online Sales from Thanksgiving Through Cyber Monday

Published on November 28, 2018, by fraudpractice in Industry News, Sales Conversion.

Alibaba, China’s largest online company, reported gross merchandise value (GMV) of $30.8 billing on Singles Day or 11/11. This metric, which represents the dollar value of goods sold by third parties over Alibaba’s platform, is up 22 percent from last year. Singles Day is the largest online shopping day in China, far exceeding the value of US online sales on Cyber Monday which reached a record $7.9 billion in 2018.

Tags: 11/11, Alibaba, ecommerce, ecommerce sales volume, International eCommerce, Single's Day

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Measuring False Positives is Not an Exact Science but Using Multiple Metrics can Provide a Better Understanding

Published on October 19, 2018, by fraudpractice in Payments, Sales Conversion.

When a legitimate customer has their order declined because of fraud concerns they may purchase from a competitor and may never return to the merchant who turned them away. This is not only painful in terms of losing the sale and potentially the lifetime value of that customer, but this makes measuring false positives difficult. Even if an organization identifies customers who reattempt their transaction or call-in to customer service to complete their order, this is not a complete representation of the volume of sales insults; it may only be the tip of the iceberg.

The first step to effectively measuring false positives is understanding that it is not an exact science, that the metrics we can use are proxies, and the more methods we have for deriving and measuring these proxies the closer we can come to understanding the whole picture.

Tags: ecommerce, false positives, industry reports, insults, sales conversion, sales insults, white papers

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Nearly 90 Percent of U.S. eCommerce Sales are Domestic, Here are Several Reasons Why

Published on October 19, 2018, by fraudpractice in Industry News, Sales Conversion.

A recent study from PPRO and Edgar, Dunn & Co. found that while about 40 percent of online sales in European countries are made to customers abroad, just 11 percent of U.S. eCommerce sales are purchases made from foreign countries. This lopsided figure underscores the difficulty of facilitating cross-border transactions, but there are many factors likely contributing to this large discrepancy.

Cross-border eCommerce is a two-way street, but traffic doesn’t flow evenly across the two directions. While just 11 percent of U.S. eCommerce sales originate outside of the United States, more than one-third of U.S. consumers shop online from brands and websites outside of the U.S. This is comparable to the share of consumers participating in cross-border eCommerce from Germany (32 percent) and the United Kingdom (38 percent).

Tags: cross-border, cross-border payments, ecommerce, false positives, freight forwarders, freight forwarding, International eCommerce, sales conversion, sales insults

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Facebook Data Breach Affecting 30 Million Users Makes Victims More Susceptible to Account Takeover

Published on October 19, 2018, by fraudpractice in Data Breach.

While nearly 30 million Facebook users had their names and basic contact information stolen, about 14 million of these data breach victims also had their birthdate, recent search history and locations compromised. Fraudsters are likely already using this information to help crack security questions on consumer accounts as well as to better target phishing emails and other scams attacking these recent breach victims.

We may be suffering from “data breach desensitivity” but the recent Facebook data breach is meaningful. Many of the victims can expect to receive phishing emails and even direct phone calls purporting to be from their card issuing bank or financial institution.

Tags: account takeover, breach, data breach, facebook, identity fraud, phishing, security questions

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Page 4 of 47‹ Previous 1 2 345 6 7 8 Next ›Last »

Google Encourages Increased Consumer Security with Free Phishing Quiz

InfoSec Professionals Report Increase in Phishing and Incidences Leading to Compromised Accounts

Nearly 450 Million Consumer Records with PII Exposed in 2018

Cyber Monday and Black Friday Reach Record Highs Totaling More Than $14 Billion in Online Sales

Consumers More Concerned with Fraud than Overspending During Holiday Season

Alibaba’s Singles Day Sales Exceed US Online Sales from Thanksgiving Through Cyber Monday

Measuring False Positives is Not an Exact Science but Using Multiple Metrics can Provide a Better Understanding

Nearly 90 Percent of U.S. eCommerce Sales are Domestic, Here are Several Reasons Why

Facebook Data Breach Affecting 30 Million Users Makes Victims More Susceptible to Account Takeover

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