GUEST OPINION by Mathew Gomizel, Radware: With the year’s biggest shopping season just around the corner, consumers are preparing to take advantage of enticing discounts and offers from a range of e-commerce websites and applications.
Online payments provider PayPal has revealed its counter-offensive against criminals who seek to take advantage of the COVID 19 pandemic, saying it is now actively working with law enforcement in Australia to identify and prevent opportunistic online crime.
Global online payment fraud is predicted to cause losses exceeding US$200 billion over the next five years, driven by the increased sophistication of fraud attempts and the rising number of attack vectors.
The average value of a fraud transaction in Australia decreased 31%, from $387 in the fourth quarter of 2018 to $267 in the first quarter this year, according to a newly released global risk intelligence report.
Australian consumers are reporting having their bank accounts drained by fraudsters and their email inboxes accessed in the latest scam involving theft of mobile numbers, according to the newly published report on fraud from the Telecommunications Industry Ombudsman.
One security company claims Australia’s New Payments Platform is likely to increase the risk of fraudsters seeking to exploit the availability of real-time bank payments.
Netflix has been hit by a new zero-day phishing scam using fake Netflix branding, with security firm MailGuard warning that the popular global video streaming service has become a favourite vehicle for email fraudsters.
Fraudsters used scam emails to steal millions of dollars from Queensland law firms in December, according to security firm MailGuard.
The Australian Competition and Consumer Commission (ACCC) warns NBN scams through emails, calls, or door knocks selling you equipment or seeking financial details are coming.
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