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Black Friday Fraud Bonanza

Black Friday increases the risk for Card-Not-Present (CNP) fraud

High volumes of consumers that share and transmit payment details becomes a profitable hunting ground for cyber criminals

It can be difficult for merchants to verify that the true cardholder is the one authorising the purchase

There are some very effective actions that can decrease the risks from CNP fraud

Black Friday is not only a day when people go on a shopping spree

It is also a day when cyber criminals go on a fraud spree

Even though many people go to the stores during Black Friday, a significant proportion of the shopping has migrated to online retail. This result in substantial fraud challenges both for the e-commerce sector, financial industry and their customers.

What are the fraudsters after?

Card information is hot prey

The fraudster aims to obtain the information visible on the card (card number, date and CVC code) which can be used for remote purchases. The details can be obtained in various ways, e.g. via fraudulent e-mails and phone calls, malware or bought online on black markets.

Learn how to proactively protect your customers

There are some very effective actions that can decrease the risk of falling victim to fraudsters who hunt for card details

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