MRC Vegas 2019

Wednesday, March 20, 2019

Help Stop Online Fraud Using Multi-factor Authentication

Wednesday, March 20 at 11:15am

According to a recent independent analysis, eCommerce fraud increased by 30 percent in 2017, compared to 2016, as malicious actors shift from using stolen credit card data in stores at the checkout counter to using stolen credit card data for fraudulent online shopping. Because online retailers cannot utilize all of the benefits of improved credit card technology, they should consider implementing stronger authentication for registered/returning customers to reduce the risk of eCommerce fraud.

Using industry best practices, federal cybersecurity standards and commercially-available products, the National Institutes of Standards and Technology (NIST) National Cybersecurity Center of Excellence (NCCoE) published a cybersecurity guide detailing how online retailers can implement multi-factor authentication (MFA) to help protect against fraudulent online purchases. The session, featuring senior engineers at NIST and cybersecurity vendors who collaborated on the project, will provide an overview of the example implementations and the risks being mitigated in terms of standards like the the NIST Cybersecurity Framework.