PCI Compliance in e-commerce Cyber Security Fraud

e-commerce PCI security

Cyber Crime InfoGraphic by Vericode.

Today anyone can have an e-commerce web site set up in mere minutes. There are a lot of open source e-commerce solutions that allow a web site owner to establish a site very easily, some require just a few clicks to get going. Once you have your color scheme chosen and your navigation all set a decision on how to accept payments is inevitable. e-commerce payment gateways allow your site to connect securely to a payment processor to accept your electronic transactions. These digital transactions can be used by hackers to target your site and your customers credit card information and much more. Whether the data targeted is stored on the merchants network or on the customers mobile device, business need to implement a cyber security strategy.

Insecure users, mobile devices, malware and back door access can all be points of failure on an e-commerce web site. Firewalls, encryption and intrusion detection systems can all be employed to minimize risks to merchants and potential losses to customers.

It is important to maintain a secure networking environment to avoid the potential pitfalls that come with a credit card processing merchant account. The Payment Card Industry, otherwise known as PCI has published a set of requirements known as PCI Data Security Standards that outline minimal requirements to secure a network that transmits, or stores credit card data for electronic processing. The guidelines include regularly updating antivirus applications, restricting physical access to networking equipment and servers, and regularly testing and logging access to systems serving credit card data.

Fraud is one of the fastest growing crimes in America. Identity theft, financial fraud, credit card fraud are widespread and on the rise. How can you protect your business from credit card fraud? Stay one step ahead by learning the methods cyber criminals use to exploit merchants and their Customers. Below is a short list of the methods used by attackers to expose valuable customer data as well as credit card information to perform fraudulent activity.

Site Clones-Hackers may attempt to duplicate an existing web site in order to trick customers into filling out payment information by making it look like the authentic site. Unknowing customers will fill in their credit card info, address information and even personal information like social security, date of birth and much more. Customers may feel comfortable because the site looks and feels the same as the one they have used before, but entering payment information into a cloned site can lead to credit card fraud.

Credit Card Generator-Software can use complicated algorithms to produce new credit card numbers by the thousands. Careful inspection of statements by consumers can show when credit card generating software or other fraud has been perpetrated.

Credit Card Skimming-Credit card skimmers are small devices that attach to legitimate credit card readers and record the credit card data going into the legitimate credit card swipe reader. By capturing the credit card information during a legitimate transaction thieves can grab fresh credit cards and run many transactions before the credit card holder is even aware the activity has occurred. If you see a device attached to the credit card terminal or an ATM terminal, think twice about swiping that credit card in.

Malware-Hackers and Crackers might use software designed to infect a browser or operating system by exploiting weaknesses. These applications can then copy things that are typed into a PC, Laptop, Smartphone or tablet device and send it to the hacker for their use. Passwords, credit card data, and much more can be exposed using these methods. Frequent updates to your antivirus and recurring scans of your system can reduce your exposure to malware exploits.

SMSishing and Phishing-These methods involve sending email or SMS messages that appear to be from a genuine business but are not. They rely on the official looking message to trick recipients into supplying a password or account information. Often referring to a problem with an account or a recent purchase, the messages typically originate from a domain or phone number that is very similar to the legitimate site, but not the same.

July 15th, 2013 by