Ori Eisen, The 41st Parameter's Founder & Chairman discusses latest online fraud trends as featured guest of Rich Levin's "PC Talk Radio" Program/Podcast

Original Airdate - Tuesday December 11, 2007

With a huge spike in online sales comes a commensurate spike in fraud. The latest trends signal an increase in the complexity of scams that elude even savvy consumers and corporate fraud departments. To thwart these new kinds of fraud, Eisen makes several recommendations to help online shoppers understand what banks and retailers are doing behind the scenes to make their shopping experiences safe.

Topics discussed include:

• Reshipper/Rerouting Schemes – Taking advantage of the fact that during the holidays, organizations are more lenient about shipping to alternate names and addresses, since this is the most common purchase pattern at this time of year. This opens the door for orders to be fraudulently redirected via the freight carrier's site to the thieves' destination of choice.
• New account creation utilizing stolen info – once a new account is established on an online merchant's site, items are purchased to be shipped as gifts exploiting holiday patterns and leniency so the mailing address need not match the card holders.
• Fraudulent Gift Card/Gift Fund purchases – crooks load gift cards with funds from the victim's card and shop freely either online or at the actual store.

Contact us info@the41.com today and learn more about how The 41st Parameter's fraud solutions can help you protect your customers from identity theft.