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.

The Manor Independent School District is out $2.3 million after falling to an apparent phishing scam. Officials for the Texas school district claim that three separate fraudulent transactions took place in November 2019 following the phishing attack. The scammers carried out the attacks using a variety of tactics, including disguised email addresses, phone numbers, fake links, and more. The school district took to Facebook on January 10 to post that the incident was caused by a phishing email.

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.

New findings from FICO claim that UK card fraud accounts for over half of all losses across Europe. The firm's new European Fraud Map reveals that UK card fraud losses hit over £671 in 2018, representing a 19% increase from the losses accumulated in 2017. UK card fraud losses amount to almost half of the £1.6 billion in total losses recorded across the 19 countries in the European interactive map, including Ukraine, Russia, and Turkey.

The holiday season revolves largely around traditions like festive lights, Christmas trees, family dinners, holiday cards and Secret Santa gift exchanges. Even if you don't like all of these traditions, you will probably agree that none is as bad as one of the newest phenomena that characterizes this time of year: holiday cyber scams.