What is Online Fraud Protection with MaxMind?
Fraudsters on the internet continue to find ways to steal and use your personal information to their advantage. Most crimes over the internet are committed by stealing an unknowing consumer’s credit card information and using it to make fast and large fraudulent purchases online. The internet has no proper jurisdictions or boundaries in place that can help protect customers from possible fraud threats. Free services and hefty gifts tend to be the first ones that lead people into such scams. It’s wise not to respond to emails or pop-up ads that contain such offers.
Phishing remains top threat
A recent survey conducted by cybersecurity outfit SANS Institute found that security professionals rated phishing as the biggest threat to consumers — 72 percent of cybersecurity professionals surveyed confirmed. Cyber thieves are known to target individual employees of business to access sensitive information under the guise of a legitimate company.
- Spearphishing: Spearphishing is an e-mail from a legitimate-looking and/or familiar business, but is actually hackers and cyber thieves seeking sensitive information: usernames, passwords, account numbers or financial information.
- Whaling attacks: Whaling attacks are similar to spearphishing attempts, but are usually targeted to high-level employees such as vice presidents and C-levels. Whaling attacks often appear to be legal documents, customer complaints or executive level matters seeking sensitive data.
Fifty percent of cybersecurity pros rated spyware as a top threat in the SANS Institute survey. Spyware is software transmitted by e-mail, activated by the victim who clicks on a bogus attachment which enables the fraudster access into a PC, in which s/he freely searches for data.
Ransomware was a close third at 49 percent. Ransomware appears similar to spyware, in that when a victim clicks on an bogus attachment, it gives the hacker control of your computer. In most cases, the hacker will hold your computer — and all its programs and information — ransom until a certain fee is paid usually in bitcoin.
Online fraud protection is paramount
It is a little known fact: 85 percent of data breaches occur with small businesses. But we don’t hear about those on the 6 o’clock news — only the breaches that happen to large retailers and the like.
It is also a fact, says an online security expert colleague of ours, that data breaches occur because, simply, someone did something they weren’t supposed to. The year 2014 was coined the ‘Year of the Data Breach.’ Instances of data breaches have not ceased — Trump Hotels has suffered three data breachs in the last two years.
At Instabill, we understand the hassle that fraud can create and that is why we have the best fraud protection system for our merchant accounts. Our fraud protection services are exclusively provided by MaxMind. With their latest online fraud detection technology and tools, they are the renowned industry leaders for online fraud detection, providing reliable and dependable online fraud protection services worldwide.
MaxMind is helping merchants all over the globe achieve online fraud protection and preventing fraudulent cases from online payment transactions to surface. Their comprehensive fraud screening system makes accurate detection and automatic fraud protection possible. Over 6000 e-commerce businesses internationally are benefiting from their minFraud services, making online transactions and networking secure.
With Instabill merchant accounts, you get fraud protection so that customers feel more confident while making transactions online. With a payment processing terminal merchants become capable of processing transactions online and a reliable payment gateway makes it all the more secure and safe. Apart from that there are also various tools available which we as your merchant account provider will offer you that will ensure online fraud protection for you and your customers.