New Visa Report Tells Consumers to Stay Alert this Holiday Shopping Season
16 Novembro 2023 - 10:00AM
Business Wire
In the Holiday Edition Threats Report, Visa
anticipates threat actors will use advanced schemes to exploit
consumers’ information during the holiday season and shares tips
and tricks for safe transactions
Today, Visa Inc., a world leader in digital payments, revealed
its Holiday Edition Threats Report, which anticipates heightened
scam activity during the holiday season across both card-present
(CP) and card-not-present (CNP) transactions. The new report
identifies popular fraud tactics expected between November 2023 and
January 2024 due to the rapid increase in eCommerce activities and
in-person spending across retail and hospitality. Visa, today, also
unveiled its list of top 10 habits consumers can follow to practice
safe and secure shopping.
Historical data and transactions show that threat actors prey on
consumers during the holiday season. In fact, Visa’s data shows
that for the top merchant categories targeted by fraudsters, 2022
holiday fraud rates increased 11% over their non-holiday fraud rate
and saw an increase of 8% over the previous year during this time1.
The Holiday Edition Threats Report warns that threat actors will
seek to exploit consumers’ increased interest and urgency in
finding deals and one-of-a-kind gifts. Highlights of the report’s
findings include:
- Digital Skimming: With the increase in online shopping,
there’s a greater opportunity for scammers to successfully
compromise account data from eCommerce merchants and monetize
it.
- Phishing and Social Engineering: The advancement of
artificial intelligence (AI) over the past year provides threat
actors with the ability to create highly customized phishing
campaigns, making it harder for consumers to spot fakes. Fraudsters
also create phishing websites, often using malvertising (malicious
advertising) and other illicit search engine optimization (SEO)
tactics on retail or service websites to entice victims.
- ATM / POS Skimming: With the increase in foot traffic at
brick-and-mortar merchants and ATMs, threat actors will likely
target ATM and POS terminals with skimming attacks.
- OTP Bypass and Provisioning Fraud: Visa identified many
one-time-passcode (OTP) bypass schemes to gain access to
cardholders’ accounts. In this scheme, OTP templates are sent to
the victims that appear to be associated with desired
purchase.
- Physical Theft: Threat actors may attempt to physically
steal payment cards and/or phones from unsuspecting consumers in
crowded retail stores, shopping malls, or parking lots.
“Crooks prepare all year for the holiday shopping season, taking
advantage of increased activity and consumers who let their guard
down searching for the perfect gift,” said Paul Fabara, Chief Risk
Officer, Visa. “At Visa, we are committed to security and
reliability, with a promise of 24/7 threat monitoring, even during
the busiest time of the year. Consumers can rest easy this holiday
season knowing Visa’s team of experts is working around the clock
to stop fraud in its tracks.”
10 Habits to Help Consumers Shop Securely
Visa’s 10 Habits for Good Security Hygiene can guide consumers
who are planning to shop this holiday season on best practices to
stay safe. Highlights from Visa’s tips include:
- Double Check Reputation and Authenticity of Retailers:
Stick to trusted and retailers you know well. If you're considering
a purchase from a store you're not familiar with, do some research
to check their reputation and authenticity.
- Secure Your Personal Information: Make sure the website
uses secure technology. When at the checkout, the website address
should start with 'https://'. The 's' stands for secure and means
that your data is being encrypted and sent over a secure
connection.
- Avoid Public Wi-Fi for Shopping: Public Wi-Fi networks
are often unsecured, which makes it easier for hackers to steal
your information. Always use a secure, private internet connection
when you're making purchases.
- Beware of Deals That Are Too Good to Be True: Offers on
websites and in unsolicited emails can often sound too good to be
true, especially extremely low prices on hard-to-get items.
Consumers should be suspicious of such deals, as they often
are.
At Visa, security and reliability is a top priority year-round.
Over the past five years, the company has invested more than $10
billion in technology, including to reduce fraud and increase
network security. More than a thousand dedicated specialists
protect Visa’s network from malware, zero-day attacks and insider
threats 24x7x365. In fact, in the first six months of 2023, Visa
helped to proactively block $30 billion in fraud, preventing many
from ever knowing they were at risk of a potential fraudulent
transaction. We encourage consumers to stay alert during this
season and think about where they are shopping and who they are
sharing their information with to keep it safe.
About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments,
facilitating transactions between consumers, merchants, financial
institutions and government entities across more than 200 countries
and territories. Our mission is to connect the world through the
most innovative, convenient, reliable and secure payments network,
enabling individuals, businesses and economies to thrive. We
believe that economies that include everyone everywhere, uplift
everyone everywhere and see access as foundational to the future of
money movement. Learn more at Visa.com.
1 Top merchant categories include home improvement and supply,
telecommunications, business to business, healthcare, automotive,
entertainment, education and government, lodging, insurance,
airlines, and drug store and pharmacies.
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version on businesswire.com: https://www.businesswire.com/news/home/20231116325184/en/
Allee McDermott amcdermo@visa.com
Visa (NYSE:V)
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