Nowadays, the impact of online fraud in the financial sector is undeniably high.
Every year the damages caused by fraudulent transactions are worth billions of dollars.
Not only in the United States, where mobile payment is more advanced than other nations, In England, for example, (and the data is a valid statistical average figure for the Planet) one out of ten users have been the victim of online fraud. In other words, a user is more likely, to the extent of a factor of 20, to be robbed on his PC that walking on the street.
Even mobile devices are increasingly being targeted: during last Clab event, held in September in Peru, it was determined that the growth for mobile frauds has increased by 170% and now represents 62% of the total online frauds.
Among online fraud , identity theft is the most common crime (95%).
What are the other criminal actions and what are their precise definitions?
Sniffing: cyber criminals intercept the coordinates of payments made by credit card, then using the same coordinate they make new purchases.
Phishing: the email address of any user may receive an email that, through some trick (for example simulating formula and layout of an official communication from the bank), force him to enter his personal data and those related to credit cards.
Trojan banking: Computer viruses, not always detected by antivirus software, which forces the access to the online banking credentials. By exploiting the “holes” in the protection system, they install themselves, and self-spread to undermine the proper function of the system, including the uncontrolled release of personal information.
Is there a way for clients to protect themselves from online frauds? Certainly through prevention and building safer digital ecosystems. But how to verify in real time that we are victims of online fraud attacks?
The solution exists and it is called Alert.
Ubiquity offers a multi-channel platform that manages Alert, Push Notification, and E-Mail. Also, it provides advisory services based on many years of experience in the messaging sector, thanks to a consolidated approach and long experience alongside great companies.
Ubiquity handles both Alert Premium, paid for by the end user, and Alert Bulk, free for the user who receives the message. In both cases, the services are provided through secure connections with the telephone operators or other international partners.
As for Push Notification, the service offered focuses on centralization and transparency with respect to the various providers with fallback mechanisms and routing through SMS.
As for E-Mail, the platform provides, in particular, the management of transactional events as well as marketing campaigns.
The SMS, in particular, notify the bank customer on the transactions with its card and bank account movements. The SMS Alert is an effective communication channel connecting the bank with its customers , providing an important safety and anti-fraud function together with the ability to alert bank customers in real time on transactions and movements.
During 2015 the Mobile Finance market in Italy has seen a significant increase, +31% of volumes compared to the previous year. This positive trend is in banking services SMS volume, particularly transactions notifications on credit cards, debit, prepaid and movements of bank accounts, but also on information services that facilitate communication between bank and customers. In 2015, the volume of SMS sent from the cluster of monitored Italian banks, both Bulk and premium, reached 725.5 million SMS compared to 553.1 million SMS sent in 2014.
Tag: Alert Notifications