Cyber crime poses big risk to mobile holiday shopping

DAVID JONES | July 27, 2018

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As the holiday shopping season gets into full swing, retailers and payment experts are increasingly concerned about heightened threats to e-commerce sites and the potential impact on mobile shopping activity.A study from the National Retail Federation and Forrester Research found payment card fraud remains the top concern of retailers, as cyber attackers have moved away from in-store fraud to online following the implementation of EMV chips on credit and debit cards.About 55 percent of retailers are concerned about the rise of payment card fraud and the implementation of EMV chips has moved a large number of attacks to e-commerce sites."The chip in an EMV card makes it difficult to counterfeit the card, but it does nothing to show whether the person trying to use the card is a legitimate cardholder," said Stephanie Martz, senior vice president and general counsel at NRF, in a release on the study.

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