There’s a reason why the demand for safest and most secure payment gateways and transactions methods is on an increase. As more and more e-commerce websites came up and starting selling online, it gave frauds a green signal. Cyber criminals would figure out ways to make a theft. Below given are the common types of e-commerce thefts and frauds.
Identity thefts are the most common type of e-commerce theft. In this kind of theft, the fraudster would collect personal information of the target, like name, date of birth, email address etc. Using the information that they lay their hands on, they can make purchases online and pay using the stolen credit card or debit card details.
Phishing is another technique that uses dubious emails, messages, or even websites to get the person data of a person. And using another technique called pharming; a person is directed to a fraudulent website through a manipulated browser.
An affiliate fraud targets at manipulating the traffic to a website or the stats of signup. This is achieved through two ways. One can either use automated processes to hack and manipulate the stats or use real people for logging in and make millions of fake accounts.
Friendly fraud is when a person orders some stuff and pays for it using his or her credit card or debit card. However, once the payment is made and the order is confirmed, the person claims that his or her credit card was stolen. As this happens, the person receives compensation and receives the product as well.
Clean fraud is called so for being a very clean and smooth move by the fraudster. In this kind of fraud, a person steals the victim’s credit card and places orders using the stolen card. Once the order is placed, the person makes such manipulation that the fraud detection functions get altered. This kind of fraud involves lot more specialization since the stealer of the card needs to make an analysis to meddle with the fraud detection functions.
In triangulation fraud, there are three steps of conducting fraud. Firstly, the fraudulent website offers some of the highly demanded products at a discounted arte. They make it more lucrative by claiming, immediate delivery would be initiated for credit card payments. Using this tactic, the fraudster would collect the credit card details. Once the fraudster has the card details of the victim, he or she orders the product using the real website and gets it delivered to the victim. After that, he makes further transactions for himself.
These are some of the common types of e-commerce thefts and frauds. This is why you should use a secure transaction means and check before you make a transaction. To know more about secure transactions, visit https://www.ipsidy.com/authentication