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Fraud: Security Testing. How Companies Ignore Security

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Unfortunately, a lot of business leaders do not take internet security seriously despite the fact that other companies face harm from frauders. Cybersecurity experts urge managers not to wait until something bad has happened as the cost of implementing security measures is much less than the cost of eliminating the results of damage caused and restoring losses.

“Fraud means illegal activities with online payments.”

Any company engaged in e-commerce sooner or later faces the problem of fraud and incurs losses from it. To protect yourself from fraud, you need to constantly keep ready protective mechanisms and procedures, as well as regularly check their effectiveness.

Along with Anti-fraud systems, over the past few years testing web usability has been gaining popularity, too. And we possess the latest technology to meet this need.

Fraud Classification

For the illegal use of information technology in various business sectors with the purpose of embezzling the victim's money, fraudsters resort to a variety of methods. Today we will discuss the types of online fraud.

Phishing

With this method of online fraud, attackers try to swindle a person out of his confidential data or provoke him into taking specific actions. For this purpose, scammers use instant and mail messages, or specially designed fake websites.

The main task of phishers is to obtain passwords and logins for financial services such as online banks and electronic money systems or trick the victim into paying them money. To do this, they aim to induce a person to perform a certain action: go to an infected site or open a malicious file. The setup is that a phishing link leading to a malicious page may be received from a friend or relative whose computer has been infected.

Identity Theft

This is the illegal use of someone else's personal data for profit. A surge in interest in crimes of this kind is associated with an increase in the number of remote services that do not require the user's personal presence, such as paying for purchases in online stores using bank cards or payment systems. The second important factor is the spread of social networks where confidential information is posted in the public domain. Attackers use the collected data to carry out attacks, scam, send spam, create doubles of famous personalities and other people to damage the victim's reputation.

Payment +, Items —

A person buys a product in an online store, pays, but the parcel is never delivered. One-day websites often offer goods as part of a short promotion at a significantly low price lower than usual, and gullible consumers fall for this bait. Another type of this method is scam on ads sites. A buyer pays for an item, and the seller disappears.

Nigerian Letters

The user is offered to receive a large transfer of funds for a third party at high interest rates, but first he is asked to send some money to pay taxes and other fees.

Letters of Happiness

You receive a notification about winning a million in the lottery, a trip, a car, etc. And in order to get the prize, you need to pay a small duty, tax or fee. It goes without saying that you won nothing.

Incorrect Transfer

An unexpected payment was made to your phone, bank card or e-wallet. After a short time, the sender calls and begs to return the money he sent by mistake. After sending the money back, a person discovers that a double amount was debited from his account as most banks and operators allow the return of wrong payments. In other cases, the scammer does not transfer any money at all, but simply forges SMS notifications about the account replenishment. In this case, the attacker expects the victim to fail to check the balance beforehand.

Carding — Fake Account Blocking

You receive a letter, SMS or a phone call. A person introduces himself as a bank employee and informs that your card is blocked, so you are asked to confirm a card number and provide a verification code, or follow the link to unblock your card. Neither tell your personal data, nor click the link as bank employees never ask clients about their card details.

Don't Bury Your Head in Sand

Both companies and consumers struggle from fraud. Businesses should take the issue of email security and safety of personal data of their customers and users seriously. Otherwise, someone will suffer great material and reputational loss… So let it be not your company and not your clients.

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Arifur Rahman He is a professional SEO specialist & a freelance writer with a lot of passion to write about technology, startups, travel, lifestyle & other niches. He owns many websites. He has contributed to many famous websites. He lives, breathes digital marketing, and helped many companies to grow their business. His main goal is to spread his knowledge that he grabbed in many years and ideas to all generations. Keep connected with him on Linkdin
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