Hackers are plotting to benefit from the generosity of Halloween, Thanksgiving, and Christmas shoppers using carding attacks as we gear up for the holiday season shopping. Online companies selling products or services are struggling with the growing issue of carding. To ensure a secure online holiday experience, let's uncover and understand what a carding attack is and how to protect against it. Carding attacks primarily target information embedded in payment cards, such as credit or debit cards. The attackers, known as carders, employ various techniques to obtain this data, which includes the cardholder's name, card number, expiration date, and the security code. With more people shopping online, cybercriminals take advantage of the situation by using stolen card details without even needing the physical card. To make matters worse, they've figured out how to get around a security feature called the Card Verification Value, a secret code on your card. This code ensures that the person making a purchase has the real card, but these cybercriminals have found ways to outsmart it. Fraudsters utilize automated bots to verify the validity of stolen credit card details through inconspicuous test purchases on various e-commerce platforms. This discreet validation allows them to confirm the cards' authenticity before committing more substantial fraudulent activities. Cybercriminals exploit stolen credit card information to execute large-scale, unauthorized transactions on e-commerce websites. This use case results in financial losses for targeted online retailers and poses a significant threat to the overall security of digital transactions. Carders target gift card systems, attempting to use stolen credit cards to purchase gift cards and subsequently drain their balances. This tactic allows cybercriminals to convert stolen credit card information into easily transferrable and monetizable gift card assets. Fraudsters gain unauthorized access to user accounts on e-commerce platforms, utilizing saved payment information to make fraudulent purchases. This carding attack involves compromising user credentials to exploit the account owner's financial resources. Carders exploit the refund process by purchasing stolen credit cards and requesting refunds. Cybercriminals engage in large-scale purchases of high-value items using stolen credit cards, intending to resell the goods for profit. Detecting carding attacks requires a combination of advanced technologies, behavioral analysis, and proactive monitoring. Behavioral Analysis: Utilize tools that analyze user behavior patterns during online transactions. Identify anomalies such as rapid, high-frequency purchases, unusual order quantities, or irregular transaction times. During the holiday season, protecting your website from bot attacks is crucial to avoid disruptions for your on-call team. Unchecked bot traffic can harm e-commerce businesses, especially during peak times. Basic methods like device fingerprinting and IP filtering may not effectively stop modern, distributed attacks. It should instantly identify and block layer 7 DDoS attacks, distinguish between bots and humans in real time and ensure a smooth user experience. Real-time behavioral detection capabilities are crucial to prevent automated attacks like card cracking. Bot protection solutions like AppTrana use behavior analysis, machine learning, device fingerprinting, and collective bot intelligence for accurate detection with minimal false positives. Look for providers with a 24/7 support team to handle motivated attackers. A managed service team should monitor bot trends, analyze fraud tools, engage with bot developer communities, and continually improve detection algorithms. Indusface SOC team offers around-the-clock monitoring during peak events, adjusting to threats, handling bot management tasks, and reviewing events afterward for improvements.
This Cyber News was published on cybersecuritynews.com. Publication date: Thu, 30 Nov 2023 21:55:08 +0000