The inner workings of e-commerce fraud
Cybercrime, black markets and e-commerce fraud - What do all the following
terms have in common? Stolen credit card data, COBs, ‘carding’, item drop mules,
mule panels, reshipping services, black market retail and money laundering? All
are part of one cybercrime cycle – the e-commerce fraud cycle.
So how does it all start, when and where does e-commerce fraud happen the most and how does it all come together? What are the best ways to prevent or minimize this type of fraud?
Before diving into the details, one must begin by understanding that the trends and dynamics of underground markets closely follow those of their legitimate mirror images. Black markets too have supply and demand, partnerships, collaborations, different ways to buy, sell, ship, pay and monetize, keeping the wheels of the underground economy turning. The main difference is the intent – with the latter’s being theft and fraud at the end of the line.
Read about it here...
So how does it all start, when and where does e-commerce fraud happen the most and how does it all come together? What are the best ways to prevent or minimize this type of fraud?
Before diving into the details, one must begin by understanding that the trends and dynamics of underground markets closely follow those of their legitimate mirror images. Black markets too have supply and demand, partnerships, collaborations, different ways to buy, sell, ship, pay and monetize, keeping the wheels of the underground economy turning. The main difference is the intent – with the latter’s being theft and fraud at the end of the line.
Read about it here...
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