It’s a typical Monday morning. You’ve just brewed a comforting cup of tea and are about to dive into the weekend sales reports for your online store. As usual, business seems to be booming until a glaring anomaly catches your eye – an alarmingly high number of transaction reversals over the weekend. A sense of unease creeps in as you probe deeper, only to uncover a chilling truth. Your business has become the latest prey to an insidious form of fraud, chargeback fraud.
Picture a quaint, small town enveloped in the tranquility of a peaceful night. The only signs of life are flickering street lamps and the glow from the neighborhood automated teller machine (ATM). You spot someone approach the ATM, withdraw cash and walk away. It all looks so normal. What you don’t realize is that you have just witnessed a fraud attack, specifically, transaction reversal fraud (TRF).
VANCOUVER, B.C. June 15, 2023 – BC Tech is proud to announce the finalists across 9 Technology Impact Award categories who achieved exceptional success in the past year. As BC Tech celebrates the 30th Anniversary of the Technology Impact Awards, this year’s awards celebrates 30 years of innovation in BC.
There are many ways to be socially engineered and phished, including email, websites, social media, SMS texts, chat services, phone calls and in-person. These days, it is hard to sell something online, date or rent a vacation home without being scammed. Scams are everywhere! If there is a way to communicate between two parties, some scammer will try to take advantage of it.
The U.S. Federal Trade Commission (FTC) has published a data spotlight outlining the most common text message scams in 2022. Below are the top five text scams reported by the FTC: Phony bank fraud prevention alerts were the most common type of text scam last year.
If you read the news, you’ve encountered the term “Magecart” multiple times in recent years. The term refers to several hacker organizations that use online skimming methods to steal personal information from websites, most frequently customer information and credit card details on websites that take online payments.
