Fraud & Risk
Printing Money: Virtual Marketplaces as Real-World ATMs
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Any marketplace introduced to consumers -- or businesses -- will eventually experience fraud, and if something can be exploited and translated to fiscal value, it will be. One such exploitation can be found in gift cards, which allow attackers to convert virtual abuse into real-world money by stealing and flipping the cards to effectively facilitate laundering and other illegitimate schemes. Gift cards are largely untraceable, thus making them an ideal target for fraudsters.
This webinar examines practical scenarios where virtual marketplaces can be exploited like cash by attackers. It also scrutinizes past approaches to curbing such abuse and explains why the value of such attacks has increased at an alarming rate. Finally, the discussion includes insights on how to treat and prevent gift card abuse. A brief Q&A period concludes the broadcast.