EMV’s Online Fraud Attack Push

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ABOUT THE DISCUSSION 

Though the industry knew it was coming, the sharp migration of fraud from in-store to online channels with the growing adoption of EMV is still enough to keep any online merchant up at night.

The data show that since the October 2015 EMV liability shift, United States fraud attacks have jumped by 11 percent. From Q1 2015 to Q4 2015, the fraud attack rate on United States merchant websites skyrocketed from nine attacks per 1,000 transactions to 27 attacks per 1,000 transactions — a 215-percent increase.

Not only is online fraud threat growing, but also it’s hitting merchants right where it hurts by putting a greater risk on digital transactions. According to Forter, as of Q4 2015 nearly $4.79 out of every $100 of sales globally are at risk for online fraud attacks. That’s a 150-percent hike compared to Q1 2015.

EMV isn’t going anywhere – so what’s an eCommerce merchant to do?

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Join Michael Reitblat, Co-Founder and CEO of Forter, and Karen Webster, CEO of MPD, for a live digital discussion on Tuesday, May 24, 2016 at 1:00 PM (EST). The two will dive into the data surrounding EMV’s significant effect on fraud in the United States.

Some of the topics we’ll cover include: 

– Fraud attacks in the United States are up more than 10 percent since the liability shift in October 2015.

– Digital goods retailers have been hit hardest — the industry has seen a more than 300 percent increase in fraud attacks since the liability shift.

– More and more fraudsters are utilizing botnets. 83 percent of fraud attacks now deploy the networks of infected computers.

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DIGITAL DISCUSSION PRESENTER 

Michael Reitblat

Co-founder and CEO of Forter 

Michael is the co-founder and CEO of Forter. Prior to founding Forter, Michael was the VP Product & International Operations at Pango Parking where he was in charge of the deployment and adoption of Mobile Wallet technologies worldwide. In 2008, before its acquisition by PayPal, Michael led Product at Fraud Sciences, where he faced some of the most challenging questions in the cyber security ecosystem. Michael’s fascination with online fraudsters began following a successful “self experimentation with the Internet” phase as a teenager and an even more successful period of service as an intelligence officer in the early days of the Israeli Cyber Command.

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DIGITAL DISCUSSION HOST

Karen Webster

CEO of Market Platform Dynamics

Karen Webster is one of the world’s leading experts on payments, commerce and retail innovation and a strategic advisor to CEOs and Boards of multinational players in those sectors. As CEO of Market Platform Dynamics, she works extensively with the most innovative players in the payments, financial services, mobile, retail, B2B, digital media and technology sectors to help them maximize the value of their platform assets, design disruptive new business models and ignite and monetize new innovation. Karen also serves as a member of the advisory board for several emerging companies.