The Monday following Thanksgiving, now known as Cyber Monday, has become one of the bumper sales days across electronic commerce sites. Every year the absolute volumes of online sales increases, as does the proportion of electronic commerce spend compared to traditional spend at physical retailers. This shift in consumer behavior has also attracted those from the criminal fraternity, who are seeking to capitalize on consumer’s lack of knowledge about safe online shopping. The continued strength of "card not present" fraud losses shows that people continue to be duped into providing their credit or debit card credentials in an insecure manner or to unauthorized sources, particularly when online. Customer education and awareness is … [Read more...]
