Pandemic and Payments: A Virtual Paradise for Scammers
As COVID-19 engulfs the US, unethical online merchants target consumers who are homebound, anxious—and online. They promote products that claim to treat the coronavirus, services that trick consumers into giving unnecessary money or personal information, and other scams. These merchants are endangering the health and safety of consumers while increasing the risk and liability for payment companies (e.g. increased chargebacks, card network fines, and regulatory warnings).
This presentation covers:
- How the pandemic is affecting consumers and their spending patterns
- Coronavirus-related frauds and scams
- Best practices for keeping our global e-commerce community safe