Dubai PR Network, Online Press Release from Dubai and Middle East
 
Technology, Computers & IT(Technology)
Filter PR by
  
UL issue advice to protect payments this festive season
 

Dubai, UAE, December 16, 2018:  UL, a global safety science company, has advised shoppers and businesses in the UAE to be proactive to keep online payments safe and secure this festive season.

 Across the world identity fraud is on the rise, driven by a growth in scams where the physical debit or credit card is not present – such as online or over the phone transactions. A recent study, by globally renowned firm Norton, found that more than 3 million people in the UAE experienced cybercrime in 2017 in (around a third of the population) *.
 
With uptake in fraudulent activities on key shopping dates, merchants and consumers need to be mindful of unscrupulous fraudsters who are always looking for new and different ways to get their hands on people’s hard-earned cash.
 
UL, which has a regional office in Dubai and a state-of-the-art laboratory in Abu Dhabi, has provided a series of top tips for consumers and merchants in the UAE to mitigate risk this holiday period.
 
They include considering the use of wallet platforms such as Apple Pay and Paypal, as well as registering for bank transaction notifications and regularly reviewing passwords for online accounts.
 
Merchants should also protect themselves by monitoring sales transactions, as well as asking for the Card Verification Code (CVC) as part of every transaction and keeping software and platforms up to date.
 
Hamid Syed, vice president and general manager of UL Middle East: “This is a busy time of year for online shopping with countless consumers using digital payments to buy gifts for loved ones from companies at home and abroad.  
 
“At UL we provide trusted and critical security expertise – ensuring that this festive season is one to remember for all the right reasons.”
 
UL recommends the following for individuals:

  • Consider the use of wallet platforms such as Paypal, Apple Pay, Samsung Pay, Google Pay or Visa Check out. Wallet platforms are available for both mobile and desktop devices and increasingly include a new technology called tokenization. Tokenization protects sensitive data on credit card numbers by replacing it with an algorithmically generated number called a “token”.
  • Routinely review credit card statements for fraudulent activity. This simple action helps identify and shut down unauthorized use of your credit cards.
  • Check to see if your bank allows you to set up transaction alerts or withdrawal notifications when an amount is over a preset limit.
  • Pay attention to changes in credit score. Some banks and credit card issuers will alert a customer when your credit score shifts up or down.
  • Create unique passwords for online banking, credit and other accounts with sensitive information. Passwords gleaned from one attack are often tested by fraudsters against other accounts with the same password protocols.
  • Mix up your choice of security questions. For example, many security challenges include one’s place of birth, an easy question to answer. Use a mix of security questions to help minimize risk.
  • UL recommends the following for merchants:
  • Monitor sales transactions using tools to check IP addresses and filter out countries known for fraudulent activities. Scrutinize inconsistent shipping addresses and billing information before products are mailed.
  • The Address Verification System (AVS) can be used to verify the address of the person claiming to own the credit card. AVS compares the numeric portion of the shipping address with the address on file through the credit card company.
  • Ask for the Card Verification Code (CVC) as part of every transaction. The Payment Card Industry Data Security Standard (PCI DSS) prohibits the storing of CVC, so the chances of virtually obtaining the code are practically zero, making it a smart requirement for most eCommerce and mCommerce sites.
  • Keep software and platforms up to date as software vulnerabilities are continuously being found and security patches issued to prevent fraud and protect customers from malware and viruses.


Posted by : Dubai PR Network Editorial Team
Viewed 7003 times
PR Category : Technology
Posted on : Sunday, December 16, 2018  12:44:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Sophos Central Management of XG Firewall Now Available Throu...
Next Story : Data analytics and cyber security will be key to improving a...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Move Aside C-beauty, K-beauty and J-beauty - There's a New Trend in Town and It Hails Fro... [7070-Views]
Inglot Cosmetics Partners With Cartoon Network for Limited Edition “The Powerpuff Girls” B... [6808-Views]
Autumn/Winter 19: Step out in the latest styles with City Centre Deira and City Centre Mir... [6442-Views]
Think LUNETTE for an earth-friendly period [5679-Views]
ACE launches its new and inspirational Outdoor collection [4618-Views]
Dress for Diwali With the Rack by Kachins [4514-Views]
Chain Reaction [4514-Views]
Restoration by Parmigiani Fleurier -The Yusupov Egg [4508-Views]
Sandro Launches Evening Capsule Collection [4270-Views]
‘A Gift of Gold' offers at Malabar Gold & Diamonds [4240-Views]
Handbags and Gladrags [4130-Views]
Celebrate guilt-free shopping to your fullest! [4124-Views]
VAIO returns to Middle Eastern in partnership with Nexstgo [4093-Views]
Eighth World Championship title in all categories for Tissot Ambassador Marc Marquez [4056-Views]
Unifonic empowers business to capitalize on instant messaging apps to engage with customer... [4032-Views]
New Strategic Partnership with Hewlett Packard Enterprise to help accelerate Abu Dhabi Dig... [4020-Views]
MBRU and King Saud University in Saudi Arabia join forces to enhance academic collaboratio... [3886-Views]
His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum Challenges the City to Be ‘I... [3849-Views]
Peugeot Boxer 4x4 Concept Revealed [3825-Views]
Saudi Arabia's Ministry of Energy highlights enhanced cybersecurity credentials at GITEX T... [3764-Views]
Dubai Land Department welcomes Saudi Minister of Housing [3684-Views]
Hazzaa AlMansoori Undergoes Medical Experiments at Stars City as part of His Scientific Mi... [3684-Views]
Victoria Beckham Eyewear Debuts New Collection for Fall 2019 [3660-Views]
During a press conference to announce the completion of preparations of Summit that will b... [3642-Views]
Team Abu Dhabi Stars Chase Double World Title Boost in China [3581-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories