Ecommerce fraud is a type of cybercrime in which criminals use stolen credit card information or fake identities to make unauthorized purchases online. It can also involve identity theft, where criminals use stolen personal information such as names, addresses and Social Security numbers to open new accounts or take out loans in someone else’s name.
Phishing is the process of sending fraudulent emails designed to steal personal information or gain access to online accounts. These emails often appear to come from legitimate sources, such as banks or other financial institutions, but they are actually sent by hackers attempting to gain access to your confidential information.
Account takeover occurs when malicious actors steal login credentials to access customer accounts. Learn the tell-tale signs of account takeover attempts and how to prevent it from happening again.
Ecommerce businesses must navigate a complex landscape of sophisticated fraud, as fraudulent activity gets increasingly automated and difficult to detect. From account takeovers to carding cracking, it’s important to be familiar with the 6 main types of ecommerce fraud in order to recognize the warning signs before their effects become irreversible.