Permission.io’s Post

#Data #Privacy Risks in the Retail Industry: Safeguarding #Consumers' Information in an Era of #Digital #Commerce #Data #privacy in the retail industry is crucial for protecting consumers' sensitive information from unauthorized access, misuse, and exploitation. When #data #privacy is compromised, consumers face various risks: 1. #IdentityTheft: If hackers gain access to consumer data stored by retailers, they can use it to steal identities and commit fraud. For example, if a retail database containing customer names, addresses, and credit card numbers is breached, cybercriminals can use this information to make unauthorized purchases or apply for loans in the victims' names. 2. #FinancialLoss: When #consumer financial data such as #credit #card numbers and #bank account details are compromised, consumers are at risk of financial loss. #Unauthorized transactions made using stolen payment information can result in significant financial hardship for consumers. For instance, if a retailer's online payment system is hacked, #consumers who have saved their payment information on the platform may become victims of fraudulent transactions. 3. #ReputationDamage: A #data breach in the retail industry can lead to reputational damage for both the retailer and the affected consumers. #Consumers may lose trust in the retailer's ability to protect their data, leading to a decline in customer loyalty and brand reputation. For example, if a well-known retail chain experiences a data breach compromising #customer information, consumers may avoid shopping at that retailer out of fear of further security breaches. 4. #TargetedAdvertising and #Manipulation: Retailers often collect #consumer data to personalize marketing efforts and improve sales strategies. However, if this data falls into the wrong hands, it can be exploited for targeted advertising or manipulation. For instance, if a retailer's customer database is sold to third-party advertisers without consumers' consent, they may be bombarded with unwanted advertisements or fall victim to scams targeting their specific interests and preferences. 5. #PrivacyIntrusions: Retailers may inadvertently intrude on consumers' privacy by collecting excessive or unnecessary personal information. For example, if a retailer's mobile app requests permission to access a user's location data without a valid reason, it could lead to concerns about surveillance and unwanted tracking. Overall, the risks associated with #data #privacy breaches in the retail industry can have profound consequences for consumers. It is essential for retailers to prioritize the protection of consumer data through robust security measures, transparent data collection practices, and #compliance with #privacy regulations to mitigate these risks and safeguard consumer #trust.

Online shopping has become the most convenient way for consumers to purchase a variety of goods from a limitless amount of storefronts, and unlike retail locations, you don’t have to wait in line. There is a catch to this convenience however. In order to make checking out online fast and easy, these websites have all sorts of personal information stored on their backend, leaving you vulnerable to data breaches. The need for data protection has seen the implementation of many roadblocks in the checkout process, such as passwords, PINS, or email verification, which can create user friction and slow down the overall experience. We don’t need to trade convenience for security however, there is a third option to improve the online transaction landscape: the integration of biographic and biometric information for a reusable fully verified digital ID. Check out my new blog on https://lnkd.in/ee2PYmkU where I outline the potential future for online authentication and fraud prevention. #fraud #fraudprevention #idverification #onlineshopping #onlinesafety #userauthentication #onlinesecurity #biometrics #biographic #trua #betanews #onlinestores

In today's digital age, online fraud has become an unfortunate reality for businesses and consumers alike. The rapid growth of e-commerce and online transactions has paved the way for sophisticated fraudulent activities that threaten the security and integrity of our online interactions. As a result, technological advancements have also given rise to advanced fraud protection solutions. One such cutting-edge technology is Brandefense Fraud Protection, which aims to safeguard businesses from the ever-evolving threats of online fraud. READ MORE: https://buff.ly/48FAF5q #ICTD #Brandefense #Onlinesecurity #fraudprotection

#Hackers linked to Chinese #fraudsters are targeting #onlineshoppers to steal #creditcardinformation, likely making off with about $50 million who order premium shoes at discount prices on fraudulent deal website. This figure does not take into account secondary damages caused by #fraudulentuse of stolen credit card details. The hackers offer deals to lure customers, harvesting credit card details through a #spoofedpaymentinterface which is designed to throw out an error message and take the victim to a malicious functioning payment gateway. The gang runs a fraudulent network of more than 75,000 domains, most of which are #expireddomains with good Google #reputations. The shops have customized names and logos and have #qualityassuranceprocedures in place to minimize inconsistencies. As of April 2024, about 22,500 of these domains were active. Be careful - if a deal sounds to good to be true, RUN!

As eCommerce fraud costs are set to skyrocket to $107 billion by 2029, how prepared is your business for this unprecedented threat? New research from Juniper has highlighted the rapid rise of eCommerce fraud, projecting a 141% increase in costs within the next five years. This surge is largely attributed to the sophisticated use of AI in fraudulent activities, including deepfakes and the increasingly prevalent issue of friendly fraud. For businesses, especially those in developed markets, the risk is higher with tactics like stolen credit card testing becoming more common. It’s crucial for merchants to adopt advanced fraud prevention systems that leverage AI to stay ahead of these evolving threats. Implementing biometric verification can also add a vital layer of protection against these sophisticated scams. Stay informed and prepared for what lies ahead. Follow AI erapps for more insights and strategies to protect your business from digitized threats. #eCommerce #Fraud #AI #DigitalSecurity #aierapps #pankajpatilwalture #aiautomation #techalerts

🚨 Protect Your Online Stores! 🚨 #DataTheft is a silent threat that often goes unnoticed which is why I was grateful to be part of this recent law enforcement operation, working to make #OnlineShopping safer. #DigitalSkimming is the act of stealing credit card information or payment card data from customers of an online store. Criminals intercept data during the online checkout process, without customers or online merchants noticing, going undetected for a long time. Information stolen is often then offered for sale on #Darknet marketplaces. If you have an online store, ensure you: monitor for #Malware use #2StepVerification conduct #VulnerabilityAssessments regularly #Patch If you have an online store and it's an area you are uncomfortable with, get in touch with The South East Cyber Resilience Centre or your closest #Police #CyberResilienceCentre, there are things we can help you with 🙂 💻 #CyberSecurity #StaySafeOnline

Across the customer journey, account login showed the highest percentage (13.3%) of suspected Digital Fraud in the Philippines. Download our report to see how this compares globally and get more insights that can help shape your prevention strategies: http://transu.co/6041dOxN7 #FraudTrends #OmnichannelFraud #DigitalFraud #FraudPrevention

𝗦𝘁𝗮𝘆 𝗦𝗮𝗳𝗲 𝗪𝗵𝗶𝗹𝗲 𝗦𝗵𝗼𝗽𝗽𝗶𝗻𝗴 𝗢𝗻𝗹𝗶𝗻𝗲! As the holiday season approaches, online shopping deals are everywhere, but so are scammers. Fraudulent websites and "amazing" deals that seem too good to be true are often traps designed to steal your personal information and hard-earned money. 𝗖𝗼𝗺𝗺𝗼𝗻 𝗦𝗰𝗮𝗺 𝗧𝗮𝗰𝘁𝗶𝗰𝘀: 1. Fake websites mimicking trusted online stores. 2. Suspiciously low prices on popular products. 3. Phishing attempts asking for sensitive personal details like credit card info or passwords. 4. Even trusted retailers can be targeted by scammers, so it's important to stay cautious. 𝗛𝗼𝘄 𝘁𝗼 𝗣𝗿𝗼𝘁𝗲𝗰𝘁 𝗬𝗼𝘂𝗿𝘀𝗲𝗹𝗳: 1. 𝘿𝙤𝙪𝙗𝙡𝙚-𝙘𝙝𝙚𝙘𝙠 𝙐𝙍𝙇𝙨 – A small change in the web address can signal a counterfeit site. 2. 𝙇𝙤𝙤𝙠 𝙛𝙤𝙧 3𝘿 𝙎𝙚𝙘𝙪𝙧𝙚 – If you're not redirected to a secure page or app for transaction verification, it's a red flag. 3. 𝙍𝙚𝙨𝙚𝙖𝙧𝙘𝙝 𝙗𝙚𝙛𝙤𝙧𝙚 𝙮𝙤𝙪 𝙗𝙪𝙮 – Verify unfamiliar websites using trusted services like fraud prevention sites. 4. 𝙐𝙨𝙚 𝙨𝙩𝙧𝙤𝙣𝙜 𝙥𝙖𝙨𝙨𝙬𝙤𝙧𝙙𝙨 and avoid storing sensitive information on your devices. 𝗕𝗲 𝗣𝗿𝗼𝗮𝗰𝘁𝗶𝘃𝗲: If something doesn’t feel right, it probably isn’t. Protect your personal information and payment details by avoiding deals that seem too good to be true. A cautious approach can go a long way in preventing fraud. Spread the word and help others stay safe this shopping season! 🛒🔒 #CyberSafety #OnlineShopping #FraudAwareness #StaySafe #HolidayShopping

A report from Hackreadclaims a group known as ShinyHunters published a 1.3TB database of compromised customer data, on the newly-reopened BreachForums criminal site.  The database contained sensitive information on 560 million users, including payment data, but also containing people’s names, postal addresses, email addresses, phone numbers, ticket sales and event details, order information, and even partial payment card data, for sale. The partial payment card data includes cardholder names, the last four digits of the cards, expiration dates, and some customer fraud details. #databreach #ransom #creditmonitoring

Adyen recently released a study indicating that within the past year, 35% of retail businesses in the UK experienced either a cyberattack or a data breach. Learn more about how Roelant Prins, Chief Commercial Officer (CCO) of Adyen, elaborates on the significant impact that Adyen's discoveries can have on profits! #Cyber #Fraud #business #FinTech