Up until now, some of PayPal users’ greatest fears in terms of cybersecurity were phishing scams aimed at obtaining their login credentials. In January of this year, PayPal confirmed a high-severity bug affecting the login form, with PayPal security investigator, Alex Birsan, finding a javascript file with what looked like a CSRF token and a session ID – which makes login information vulnerable to attackers.
The threats from data theft and fraud will continue to be a significant concern for all corporate entities in 2020. eCommerce sales, for example, are expected to reach almost one trillion dollars in the next three years, creating a growing opportunity for attackers to capitalize on fraud. A Juniper Research Report regarding online payment fraud trends estimated that digital card, not present fraud (CNP), one of several fraud categories, will reach $130 billion by 2023.
In an early January post by Mohamed Dabo of Cards International, the CEO of INETCO and the Director of Barclaycard Payment Solutions shared their views on key payment fraud and security issues that will dominate the payments landscape in 2020. Both alluded to the delicate balance between delivering an amazing customer experience, meeting compliance such as the Strong Customer Authentication (SCA) legislation, and trying to keep one step ahead of the fraudsters.
Email security refers to various cybersecurity measures to secure the access and content of an email account or service. Proper email security can protect sensitive information in email communications, prevent phishing attacks, spear phishing and email spoofing and protect against unauthorized access, loss or compromise of one or more email addresses.
Hackers and cyber criminals have evolved social engineering tactics to trick unsuspecting individuals into divulging private information or valuable credentials. One such evolving tactic is typosquatting, a form of social engineering attack that tries to lure users into visiting malicious websites with URLs that are common misspellings of legitimate sites.
Learn how INETCO helped banks, credit unions and payment service providers improve customer experience, detect fraud faster and optimize transaction performance in 2019.
The Greek philosopher Aristotle once said, “The whole is greater than the sum of its parts.” When it comes to guaranteeing that every payment transaction completes as expected, this statement could not be more accurate. For retail banks, independent ATM deployers (IADs) and payment processors, transactions are the lifeblood of their businesses.
Phishing scams remain one of the most widespread cybercrimes. A phishing scam can be as simple as getting someone to click on a link, attachment, or a picture of cute kittens. I recently received a spam email with the message: “Old friends post embarrassing pictures of Jason Nelson online; click here to see.” Seeing my name in the body or subject line of an email is alarming. That is why scammers word these emails this way.
