Why are internet fraudsters hard to catch

Wash, rinse, repeat. But fighting fraud successfully is one thing. Catching the fraudsters is quite another. The attackers create extensive expendable business lifestyles, where everything can literally be disposed of when detected — and then they start anew.

Disposal websites, disposable URLs, disposable IP addresses, disposable companies, disposable fake names, disposable phone numbers tied to disposable phones. Even disposable rented server farms — with the service farm owners oblivious to the illegal activity coming from their hardware. Frauds can be detected and blocked easily enough. Everything associated with that attack can be traced and law enforcement can move in.

Typically, though, all they find are more victims, who conveniently know nothing of value. But one such fraudster — if initial law enforcement reports are to believed — was indeed caught this month. On Aug. Interestingly enough, as is typical for these kinds of attacks, the financial victims were not the companies whose emails were compromised.

The victims who had cash stolen were people dealing with the compromised companies. This is called multi-factor authentication. The additional credentials you need to log in to your account fall into two categories:. Multi-factor authentication makes it harder for scammers to log in to your accounts if they do get your username and password. Protect your data by backing it up. You can copy your computer files to an external hard drive or cloud storage.

Back up the data on your phone, too. If you get an email or a text message that asks you to click on a link or open an attachment, answer this question: Do I have an account with the company or know the person that contacted me? Go back and review the tips in How to recognize phishing and look for signs of a phishing scam. If you see them, report the message and then delete it. Not the information in the email. Attachments and links can install harmful malware.

If you think a scammer has your information, like your Social Security, credit card, or bank account number, go to IdentityTheft.

Then run a scan. If you got a phishing email or text message, report it. Until the legal system catches up with the sophistication of online crime, merchants must learn to defend themselves against sophisticated networks of fraud syndicates operating in unison as seasoned professionals.

Signifyd can help by guaranteeing protection for merchants against chargebacks and eliminating fraud upfront. Let Signifyd fight fraud for you while you focus on building your business and taking care of your customers.

Sourabh is the former Director of Merchant Advocacy at Signifyd, where he brought over 18 years of experience defining, designing and delivering content through stories, events and video. Post by Sourabh Kothari November 18, Learn about current fraud trends. Step 1: Merchants matter Evidence can be very tough for law enforcement to come by in cases of online fraud, making prosecution much more difficult.

Step 4: Document your losses Vigilant merchants must keep detailed records of their losses. Step 5: Check eBay , Craigslist and other marketplaces Time is of the essence for fraudsters who need to unload their stolen goods before authorities catch wind of their antics.

Step 6: Be proactive and patient The irony of ecommerce fraud is that while it can happen in seconds the process to recoup your losses and get justice against a fraudster will almost always move slowly. Step 7: Set realistic expectations The amount of work required and the low success rate for online fraud cases makes this type of crime less attractive for prosecution.

The long con requires the long haul Fraudsters commit extensive time and effort to perfect the untraceable art of online fraud. Share this post. Latest Posts. How to brace your ecommerce business for post-holiday returns November 9, The data knows November 3,