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Becca Lipman
Becca Lipman
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Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud

Cyber fraud peaks during the holidays, here are some strategies fraud teams can use to prepare.
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Battling a steady stream of malicious cyber attacks is hard enough, but there are actually peaks of fraudulent attacks due to seasonality and geography.

Mary Ann Miller, managing director of Fraud and Industry Relations at NICE Actimize explains cyber fraud peaks during the holidays between Christmas and New Years Eve. Simply explained, it's a more active time when shoppers are transacting on all different kinds of devices in all places.

Hackers see the holidays as an opportunity to launch substantial attacks because businesses are very preoccupied with business as usual-type activities. "Fraudsters understand this and try to blend in and commit their fraud."

Like Santa, security teams can turn to a list to prepare for the holiday season. Be sure to check it twice.

 

Becca Lipman is Senior Editor for Wall Street & Technology. She writes in-depth news articles with a focus on big data and compliance in the capital markets. She regularly meets with information technology leaders and innovators and writes about cloud computing, datacenters, ... View Full Bio

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Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
12/26/2013 | 6:15:23 PM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
I wonder how much news like this makes customers feel it's better to use cash more often. Americans already use cash more than many other advanced economies. These data breaches could discourage card use and boost that trend.
IvySchmerken
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IvySchmerken,
User Rank: Author
12/26/2013 | 3:52:32 PM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
I agree that it's probably safer to shop at Target now since the company has stepped up its security practices w/ respect to credit and debit cards. Ironically, we should probably shop at retail stores after they have been hacked.
Byurcan
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Byurcan,
User Rank: Author
12/26/2013 | 2:15:40 PM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
I went to a Target fairly late on Christmas Eve, which was surprisingly still open, to purchase a coaxial cable. There was a fair amount of people in there. I think you're actually much safer after the news of hacks like this break; at that point the store has taken every security protocol possible to ensure it doesn't happen again.
Becca L
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Becca L,
User Rank: Author
12/26/2013 | 4:13:59 AM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
I went on a shopping spree at Target this weekend and honestly forgot about the whole fiasco until hours later. Judging by how many were in line to check out, so have many others. I guess all news is good news.
IvySchmerken
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IvySchmerken,
User Rank: Author
12/24/2013 | 3:28:44 PM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
I shopped at Target during that period and haven't been back since.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
12/23/2013 | 7:01:37 PM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
Yeah that is way too little and way too late in my opinion.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
12/23/2013 | 7:00:06 PM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
Happy now that I haven't shopped at Target in a while.
IvySchmerken
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IvySchmerken,
User Rank: Author
12/23/2013 | 1:24:27 AM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
The Target hack is not limited to Target credit cards. It included debit cards and perhaps other credit cards. Chase is putting a limit of $100 on what consumers can withdraw from ATMs, because those card numbers were stolen in the Target hack.
Becca L
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Becca L,
User Rank: Author
12/22/2013 | 11:44:53 PM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
I shudder to think of the numbers of store credit cards that I've used once for a discount. They could be hacked for months, maybe years before I noticed. A lot of people must be scratching their heads now, trying to remember if they even have a Target card..
Becca L
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Becca L,
User Rank: Author
12/22/2013 | 11:44:02 PM
re: Tis The Season For Hacks: 5 Tips to Combat Holiday Fraud
Have there been many cases in which the cards were used to ring up large bills?
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