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Cybercriminals will enjoy victimizing mobile shoppers during holidays

Cybercriminals will look to exploit retailers and shoppers, especially smartphone owners enjoying mobile shopping

Michael Hatamoto | Nov 24, 2014 at 03:46 pm CST (0 mins, 50 secs reading time)

The 2014 Christmas shopping season will see a 4.1 percent increase in sales, up to $616.9 billion, and cybercriminals will be busy trying to find new ways to target retailers and shoppers. Since many smartphone and tablet owners don't bother anti-malware software, while some don't even password-protect their devices, there is an effort to hijack mobile technologies.

Cybercriminals will enjoy victimizing mobile shoppers during holidays | TweakTown.com

"Cybercriminals follow the flow of money, and this Thanksgiving, a very high number of transactions will take place through mobile channels," said Alisdair Faulkner, ThreatMetrix chief products officer. "Unfortunately, it can be difficult for retailers to use IP geo-location data to ensure mobile transactions are authentic. Instead, retailers should try to leverage trust intelligence networks to recognize customers with good mobile purchasing history, and complement this with finer grained authentication intelligence available with a native mobile application."

However, a more realistic approach will involve cybercriminals compromising retailers - especially as more consumers keep debit and credit card data stored with their favorite stores - as network security is still often overlooked.

Last updated: Apr 6, 2020 at 08:48 pm CDT

Michael Hatamoto

ABOUT THE AUTHOR - Michael Hatamoto

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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