Phishing surge in China alongside Ecommerce growth
China has recently been experiencing something professionals are referring to as an Ecommerce boom. Not only has online shopping soared in China, but they have also recently broken the world record in ecommerce sales in a single day.
The immense growth of online transactions does bear an unwanted aspect: cyber-attacks.
With large ecommerce growth, China has also experienced a 129% rise in Phishing Phishing Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno Read this Term schemes, in comparison to 2012. A total of 49,613 phishing schemes were thwarted by Chinese authorities between January and October 2013, according to the Anti-Phishing Alliance of China (APAC).
“Online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and financial securities are among the most common targets for the scams,” APAC added on the increasing threat to China’s online shoppers.
China, having the largest population in the world, also has the largest amount of internet connected people, with over 564 million people online. China’s Ecommerce growth is expected to exceed $2.93 trillion by 2015. A side effect of such growth is, unfortunately, an increase in online fraud and cyber-attacks. Due to the growth in phishing attacks and fraud attempts, Alibaba has recently blocked access to users who are referred to its site Taobao via social messaging and payment app WeChat, to help protect its users from falling victim.
Image courtesy of Flicker
China has recently been experiencing something professionals are referring to as an Ecommerce boom. Not only has online shopping soared in China, but they have also recently broken the world record in ecommerce sales in a single day.
The immense growth of online transactions does bear an unwanted aspect: cyber-attacks.
With large ecommerce growth, China has also experienced a 129% rise in Phishing Phishing Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno Phishing is a form of cyber-attack in which fake websites, emails, and text messages are used to elicit personal data. The most common targets in this assault are passwords, private cryptocurrency keys, and credit card details.Phishers disguise themselves as reputable businesses and other types of entities. In certain instances, reputable government organizations or authorities are impersonated in order to collect this data.Because phishing relies on psychological manipulation rather than techno Read this Term schemes, in comparison to 2012. A total of 49,613 phishing schemes were thwarted by Chinese authorities between January and October 2013, according to the Anti-Phishing Alliance of China (APAC).
“Online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and financial securities are among the most common targets for the scams,” APAC added on the increasing threat to China’s online shoppers.
China, having the largest population in the world, also has the largest amount of internet connected people, with over 564 million people online. China’s Ecommerce growth is expected to exceed $2.93 trillion by 2015. A side effect of such growth is, unfortunately, an increase in online fraud and cyber-attacks. Due to the growth in phishing attacks and fraud attempts, Alibaba has recently blocked access to users who are referred to its site Taobao via social messaging and payment app WeChat, to help protect its users from falling victim.
Image courtesy of Flicker