Leveraging the Dark Web to Mitigate Payment Card Fraud
The rise in online activity created by the COVID-19 pandemic has proven to be fertile ground for fraudsters. Consumers in the U.S. alone spent $791.7 billion online in 2020, an increase of more than 30% thanks in part to a dramatic shift toward online shopping.
In addition to point-of-sale breaches and other card-present (CP) compromise tactics, cybercriminals are infecting online payment sites by collecting card-not-present (CNP) data and putting it up for sale on the dark web. In fact, global payment card fraud losses now stand at $28.65 billion per year.
What can merchants and financial institutions do? More than you might realize, especially with card fraud intelligence. Read this white paper to learn about:
- The true cost of fraud
- Card fraud from a criminal’s perspective
- The role of dark web card shops and how they operate
- How to combat payment card fraud with intelligence