E-Payment: Vulnerable Terminal Devices

Posted by Theodore on Παρασκευή, Σεπτεμβρίου 19, 2014 with No comments
Serious safety issues faced by financial companies and companies engaged in e-commerce showed the survey conducted by Kaspersky Lab and B2B International. You can find the full report in pdf here. Specifically, only 52% of financial companies and 46% of businesses engaged in electronic commerce believes that they should take enhanced measures to protect financial transactions. Even fewer companies in this area provide protection for the devices of their customers.

The e-commerce companies are those that focus less on the protection of economic activities. 16% of companies in the industry declare they are not interested to proceed with the installation of specific security solutions against online fraud, while only 38% are willing to invest in such tools.
Overall, 30% of companies that work with online cash flows, is not planning to offer protection to the devices of the customer during a transaction, although it is the weakest point in the security chain, with potential impact the loss of money for customers, but also a blow to earnings and reputation of the company itself. 28% of businesses are not interested in installing anti-fraud software to mobile devices of customers, while 30% of businesses are not trying to protect its own information infrastructure from potential online fraud.

This attitude to protection payments can lead to negative comments from customers. According to the survey, three-quarters (3/4) of the users expect financial companies to take responsibility for the safeguarding of their devices. Also, 40% of respondents feel confident that the company will offer compensation for any money lost.

However, the statistics of Kaspersky Lab show that the number of digital threats targeting financial data of individual users increases constantly. For example, according to the Kaspersky Security Network, the attacks that used malicious software targeting the banking touched 1.4 million during the period May 19-June 19, an increase of 15% compared with the period April 19-May 19.