Fake Deals, Real Trouble: Cyber Risks in Online Marketplaces

Online purchasing continues to flourish, as brick-and-mortar options have dwindled in a post-pandemic economy. Though this convenience of acquiring goods benefits businesses and consumers, it also lends itself to myriad cyberattacks, ranging from the misuse of trusted brands for scams to the sale of illicit hardware and devices infected with malware. Larger merchants, such as Amazon and eBay, are targets, with malicious sales often initiated through commonly used social platforms, like Facebook Marketplace. Card issuers and online merchants, not to mention consumers, face the greatest risk, as they are left to deal with fraud and identity theft that results. 

This Javelin Strategy & Research report details the evolving danger facing online marketplaces and social media platforms and suggests actions to be taken and tools to be leveraged in the ever-changing fight against malicious sales, scams, and other threats.

Key questions discussed in this Cybersecurity report: 

• How can card issuers and merchants protect themselves and consumers from malicious social media commerce?
• When education can go only so far, what role can and should technology play in preventing e-commerce scams before they lure consumers?
• How can online merchants better protect their brands to ensure consumer trust and brand integrity? 

Companies Mentioned: 

Amazon, Better Business Bureau, BioCatch, BrandShield, Catfished, Chase Bank, eBay, Facebook, Gen Digital, Global Anti-Scam Alliance, Instagram, Meta Verified, National Retail Federation, Norton LifeLock, Office for National Statistics, Sigma Loyalty Group, YouTube