Gift Card Fraud Threatened to Ruin the Holidays for Many in e-Commerce
JoTo PR client, Monica Eaton-Cardone, was featured in a Credit Union Times byline titled, BEC-Enabled Gift Card Fraud: The Last Thing You Want for the Holidays.
Online fraud is a year-round concern for those operating in the e-commerce market. But during the madcap holiday shopping season, anxieties about fraud threats get kicked into overdrive.
“The people generating BEC gift card requests are skilled at hiding them in the normal flow of an email, sending them to arrive at the beginning of the business day and bearing subject messages such as ‘important’ or ‘urgent,’” Eaton-Cardone said. “Some fraudsters employ artificial intelligence tools to mimic the style and vocabulary of people in the organization. To combat this problem, employees need to be explicitly authorized to confirm any request for an unusual expenditure by contacting the putative sender. This will be particularly important during the coming holiday season, when unusual requests and deviations from normal procedure may more easily pass unnoticed.”
An acclaimed entrepreneur, speaker and author, Monica Eaton-Cardone is widely recognized as a thought leader in the FinTech industry and a champion of women in technology. She established her entrepreneurial credentials upon selling her first business at the age of 19. When a subsequent eCommerce venture was plagued by revenue-leeching chargebacks and fraud, Eaton-Cardone rose to the challenge by developing a robust solution that combined human insight and Agile technology. Today, her innovations are used by thousands of companies worldwide, cementing her reputation as one of the payment industry’s foremost experts in risk management, chargeback mitigation and fraud prevention. As CIO of Global Risk Technologies and COO of Chargebacks911, Eaton-Cardone leverages her global platform to educate merchants on best practices in fraud prevention and to spotlight the competitive and economic advantages women can bring to the technology workforce. Her nonprofit organization, Get Paid for Grades, invests in students to inspire a new generation of innovators. Get to know Eaton-Cardone at http://monicaec.com.
Credit Union Times is designed for CEOs, presidents and board members from many the nation’s largest credit unions and includes trade association leaders and loan officers. They cover the latest news from Washington, D.C., technology reports and opinion pieces from key players in the industry.
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