Since the inception of the World Wide Web, retailers have been struggling in a continuous war against card-not-present (CNP) payment fraud. In accordance with card industry rules and guidelines, when the fraudulent purchases are disputed, the retailers almost always end up holding the bag.
Organizations spanning the payment ecosystem have attempted to help retailers identify fraudulent transactions through the deployment of various technologies. One of the more effective technologies has been the use of multifactor authentication (MFA). Over the past several months, the National Cybersecurity Center of Excellence (NCCoE) at the National Institute of Standards and Technology (NIST) has been working on a cybersecurity project involving multifactor authentication to help retailers reduce the risk of fraudulent purchases.
The entire Blog post is located at RSA and NIST Partner to Reduce E-Commerce Fraud Risk.
This blog was written by Michael O'Connor and the Video was produce by Sylvester (Sly) Gittens