Preventing Fraud by Preventing Identity Theft
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Transcript of Preventing Fraud by Preventing Identity Theft
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E-Commerce Security:
Preventing Fraud
By preventing
Identity Theft
Diane M. DuhéMay 6, 2012
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E-Commerce and Internet Fraud
• As E-business continues to grow, the potential for exposure to threats also increases.
• As the threats become more damaging and/or widespread, “security” becomes critical.
• There are many types of security in place, however most internet credit card fraud occurs when an order was placed illegally, by someone other than the authentic cardholder.
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E-Commerce GrowthExposure to Threats
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What is Internet fraud?
• Internet fraud is a type of cybercrime.
• Transactions are committed by using deception, credit card information gained illegally.
• Occurs when an e-Commerce merchant is unaware that an order was not placed by, and will not be paid for, by the authentic cardholder.(3)
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• When fraud occurs, a chargeback must be issued by the merchant.
• This means that the merchant incurs costs: must refund all the expenses, and pay an additional fee. (4)
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How do identity thieves do it?
• Stealing checks, bank statements, wallets/purses, anything containing oersonal information
• Proffering phony offers via phone or email
• Creating realistic looking websites, that request information from the consumer
• The information is used to access bank accounts, obtain loans, or to use credit cards.
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Merchants are negatively affected:
Merchants who accept credit cards online are subject to:
• Additional examination and processes that protect credit card information.
• Higher transaction fees to offset the cost of security
• More stringent shipping requirements
• Paying the cost of becoming and staying PCI compliant
• Being held responsible for any accepted fraudulent transaction.
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•There are at least 25 current internet scams, including:
• Nigerian letter scam• Counterfeit checks • Credit or debit card fraud • Identity theft• Investment schemes• Online auction and other sales• Phony escrow• Pyramid or “ponzi” schemes (Fraudulent investment operations) (1)
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Preventing Fraud
Existing Issues
• Privacy: information must be kept safe from unauthorized access.
• Integrity: information must not be altered or tampered with.
• Authentication: sender and recipient must prove their identities to each other.
• Non-repudiation: proof is needed that the message was actually received
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There are many ways to implement security methods and practices. Examples:
• Creating and maintaining security policies (passwords, backups) , utilizing anti-virus/spyware, hacker protection, & firewalls,
• Fortified web servers, setting database security, and securing webpage content.
Despite this, Internet Fraud continues
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The primary underly
ing
goal of a
ll secu
rity m
ethods
is to deter and prevent fraud!
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Can empowering consumers with information and resources
for protecting their sensitive information, help to prevent
identity theft, and thereby lower internet fraud???
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Method
Teach an Identity Theft Prevention class, consisting of visual presentation, class discussion, online interactive content, pre and post tests
Topics Covered:
• safeguarding personal information using the “Detect, Deter and Defend” method.
• How to identify spoofed email, phishing email
• How to use public WiFi safely
• How to use Social Networking websites safely
• Learning steps to take, if victimized
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The pre and post test:
• 10 true/false questions, administered online via “QuizStar.com”
• Each question worth 10 points
• One attempt, given for pre-test
• One attempt for post test
• Pre test administered 5 days before Identity Theft Prevention class
• Post test administered one week after Identity Theft Prevention class
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RESU
LTS
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Pre Test Results
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Question Analysis:
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Futu
re W
ork
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