There is a growing need for companies to invest in enhancing their security posture to combat data breaches, fraudulent activities and threats. Stolen identity and financial information through data breaches are often sold on the dark web. In this digital world, fraud mitigation and identity risk management have become an essential pillar for operating profitability and maintaining consumer trust.
Chargeback Fraud: Attackers tend to purchase digital goods and products that are harder to track, yielding higher chargeback volume. Individuals need to work with banks to dispute transactions, merchants can get classified as high-risk, resulting in reputation damage, and financial institutions may incur a monetary loss due to chargeback write-offs.For every card transaction processed through a payment processor, merchants need to pay a fee.
Exponential Economic Damage: Card testing fraud can enable credentials abuse and other fraudulent activities which is detrimental to the financial ecosystem.Identifying a card testing attack can be challenging. However, we can use some common heuristics and indicators to predict such attacks.
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