IDG Contributor Network: In the new ecommerce fraud landscape, every vertical is now at risk
Fraudsters have known for years that small merchants can make easier targets than big-name online retailers with better security. Now they’re finding that virtually any vertical can be a worthwhile target, not just the high-profile niches like electronics and designer goods. The reason? Thanks to data breaches, there’s a glut of low-priced consumer data, including payment data and account credentials, for sale on the dark web. For example, a stolen credit card number with the CVV goes for as little as $5 now, while a card number plus bank information costs about $15. As the cost barriers to fraud fall, fraudsters are expanding into new areas—like hailing rides and ordering dinner with stolen data.