Fraud Is on the Rise. Are You Safe While Shopping Online?

29 May 2018

The internet has nothing short of revolutionised the way we shop. However, as cybercriminals continue to target retail websites and their customers, only the Da Vinci Choice card can offer consumers the protection they need.

One of the biggest causes of concern is identity theft. This is where a cybercriminal makes unauthorised online purchases using someone else’s identity and funding card details – and occurrences are on the rise.

Indeed, according to the latest stats from fraud prevention firm Cifas, identity fraud in the UK hit an all-time high last year. The Fraudscape 2018 report compiles data from 306 participating organisations around the country. 174,523 cases of identity fraud were reported in 2017 – up 1% on previous years, and driven in the main by online trends.

84% of identity frauds take place through online channels, with online retail fraud in particular, jumping 49%. Today, fraudsters are able to obtain large amounts of key information about their victims from online sources, such as social media. This has led to a view that the younger generation are more susceptible to identify theft, as they tend to be more forthcoming with the information they share online. However, the Cifas data shows that there were 48% more victims of impersonation over the age 40, than under 40 in 2017. Men are also more likely to be targeted than women.

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The Main Risks When Shopping Online

The truth is that we are all – young, not so young, male and female – vulnerable to cybercrime when shopping online.

But what are the main risks we should be looking out for?

Phishing

In order for identity theft to take place and fraudulent online purchases to be made, criminals need more information than simply names and addresses. They need funding card information, and one of the ways they acquire it is through phishing scams.

Phishing is when fraudsters send emails or other online messages purporting to be from reputable companies, in order to trick individuals into revealing personal information, such as credit or debit card details.

Phishing and data theft are huge concerns for online retailers, according to the British Retail Consortium’s (BRC) latest annual crime survey, with around half of respondents reporting a growing threat.

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(Image source: brc.org.uk)

So-called “spear phishing” is also an increasing phenomenon. This is where people receive scam emails that are tailored so they appear to come from trusted friends or family. These have the same purpose – to encourage victims to reveal sensitive information that can then be used for fraudulent purposes.

Malware

Malicious software – or malware – is also of growing concern.

This is software designed to infiltrate personal computers and mobile devices, and glean from them, personal information for the purposes of committing identify fraud.

Phishing emails may be used to install the hardware on PCs. They will contain a link or an attachment, which, if clicked, will initiate the download. False advertisements and compromised websites are also a source of malware, so, for consumers, the best advice is to only visit sites that you know you can trust, and be very careful when clicking on ads.

Fake Online Storefronts

Another tactic often used by cybercriminals is to set up sham ecommerce stores, and draw unsuspecting online shoppers towards them by purporting to offer high-demand goods for too-good-to-be-true prices.

These are too good to be true, for their sole purpose is to coax shoppers into handing over their personal details and payment card information, which the criminals then use to make unauthorised purchases elsewhere.

Safe Online Shopping with the Da Vinci Choice Card

It really is a minefield out there in the world of ecommerce, and the long and the short of it is that it’s becoming increasingly difficult for consumers to know what sites they can trust with their payment card information.

However, by switching to the Da Vinci Choice card, online shoppers need never be concerned about revealing their funding card details to a cybercriminal ever again.

The Da Vinci Choice card is a masterpiece of innovation and engineering that has been designed to provide enhanced security and payment protection to shoppers everywhere.

The same size and shape of a regular funding card, the Da Vinci Choice card is in fact much more. Containing its own battery, numerical touch keypad, eInk display screen and microprocessor, the Da Vinci Choice card is a highly-sophisticated electronic payment device that is impossible to copy or clone.

Identity theft and subsequent fraud is possible because most credit and debit cards have a static three-digit security code printed on the back, which consumers are asked for when making an online purchase.

However, with the Da Vinci Choice card, consumers no longer have to reveal this information. Instead, they link up to eight of their existing funding cards to the device, and then take advantage of its advanced security features when shopping for goods online.

There is no static security code printed on the back of the Da Vinci Choice card. When using it to fund a purchase, users instead enter their secret four-digit Da Vinci PIN into the back of the Da Vinci Choice card itself, and the card then generates a two-digit code to use as the card’s date of expiry, followed by a separate three-digit code to use as the card’s security number.   

These codes are single-use only. This means that they are of absolutely zero value should they be revealed to an online fraudster.

Here’s our short video so you can see exactly how the Da Vinci Choice card keeps you safe while shopping online.

(Image source: youtube.com)

Register for Your Da Vinci Choice Card Today

The Da Vinci Choice card completely eliminates the risk of your funding card details being obtained by cybercriminals and fraudsters. The only codes you ever reveal to online entities of any nature are one-time only – use them once, and they become worthless. So long as you use your Da Vinci Choice card while shopping online, identity theft simply cannot take place, giving you complete peace of mind while spending.

Launching in 2018, start enjoying secure, fret-free online shopping and
register for your Da Vinci Choice card today.

Written by: Simon Hewitt, CEO,

Simon founded Da Vinci based on his passion and expertise in the information and financial security. As a leader in his field, he loves to write about his observations in order to help progress the industry as a whole.