San Jose, CA (PRWEB) May 09, 2013
ThreatMetrix, the fastest-growing provider of integrated Web fraud and cybersecurity solutions, today announced several cybercrime scenarios and preventative tips for consumers to stay protected while shopping for mom this Mothers Day.
According to the National Retail Federation, Mothers Day spending this year is expected to reach $ 168.94 on average, with total spending expected to reach a staggering $ 20.7 billion.
The unfortunate reality is that today, any major spending holiday places consumers at high risk for fraud, malware and account takeover as cybercriminals capitalize on consumer spending for personal gain, said Alisdair Faulkner, chief products officer, ThreatMetrix. Consumers must be vigilant of the risks associated with online shopping. The last thing you want to give dear old mom for Mothers Day is a case of malware or identity theft.
Mothers Day ranks fourth in spending holidays, behind the winter holidays, back to school shopping and Valentines Day. To help consumers stay protected, ThreatMetrix has identified the following top account takeover threat scenarios for consumers to be aware of when shopping for Mothers Day:
1. Phishing is a concern for consumers around major spending holidays, especially Mothers Day. Heres how it works: Cybercriminals will send out an email with a fake offer Click Here to Send Mom One Dozen Roses for $ 20. You click on the link and are taken to a fake website where you enter your credit card details along with moms personal information for delivery. Once the order is submitted, the cybercriminal has stolen your credit card details and no roses ever arrive for mom.
2. Data Breaches and Password Reuse occurs when a customers account at an e-merchant, financial services organization or social media site has been hacked and personal information, including the account password, has been compromised. Reusing the same password across multiple sites puts all customers accounts at risk of being compromised. For example, if the website you purchased flowers from for your mom suffers a data breach, all of your accounts with the same password are now at stake.
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Consumers Beware of Cybercriminals When Shopping for Mom This Mothers Day Fourth Busiest Spending Holiday is a post from: Merchant Services