Payment fraud is nothing new. In some ways, though, it’s a much bigger problem today than in the past. The rise of online shopping and banking has given criminals new, more effective ways to trick consumers and businesses alike.
Cybercrime has become so widespread that it’s almost impossible to avoid. You can minimize your risk and stop attacks before they cause much damage. It starts with learning what to look out for.
Common Online Payment Fraud Tactics
Online payment fraud comes in many forms, but some are more common than others. Here are a few popular tactics you should be aware of.1. Phishing
Phishing is by far the most prominent type of online scam. It plays a role in over half of all criminal internet activity for two main reasons—it’s easy to do and remarkably effective. In these scams, cybercriminals pose as someone else to trick you into giving away information or clicking a malicious link.
