The Internet has changed the way we do our daily activities. Today, you can find almost everything from numerous online stores. The fact that you can do your shopping, pay your bills, play your favorite online casino games, and much more from the coziness of your house have contributed significantly to the widespread online businesses.
Although the Internet has many benefits, it is also highly targeted by cyber criminals. As an online gambler or shopper, you want to disclose your personal information to a secure site. Your sensitive data may be stolen by hackers and use it to carry out criminal activities.
The online security breach has affected many reputable companies in the past like Sony, Target, and T.J. Maxx. It is essential to know the different card brands and the banks they are linked to.
While credit and debit cards are the widely used transaction method, they are also the most vulnerable to the security breach. In this article, we have provided with the top-notch security systems that are employed to ensure that all transactions are safe.
Secure Socket Layer (SSL) Encryption
The website you choose must be protected by the latest Secure Socket Layer – SSL encryption technology. An SSL-certified site is safe to give out your data and be sure that it will not leak.
Two common versions of SSL are 128 and 256-bit and it is used to provide security between the browser and a server. This security protocol is commonly used in online casinos and bookmakers to enhance the security of all transactions.
Payment Card Industry (PCI) Compliance
Many online stores are now PCI compliant. The PCI is a globally recognizable organization, which is committed to maintaining and promoting compliance rules for protecting credit or debit card users.
The Payment Card Industry Data Security Standards (PCI DSS) states the importance of the safety of customer information. The encryption of data is highly recommended to ensure that real data is not visible to unauthorized people.
Tokenization is one of the latest technology that is used to enhance security by reducing threats from payment processes. The technology enables the authentication of buyers during the payment without tampering with the security of the transaction.
To help you understand better, a token is a random string of characters that substitutes the customer’s 16-digit card numbers. What’s good about tokenization is that it works only for individuals. Which is why it is meaningless to steal a token number.
3D Secure is another excellent security layer used to improve the safety of online transactions. It works by authenticating the identity of card holders during the payment time.
A 3D Secure website is identified by the phrase “Verified by Visa” or “Mastercard SecureCode” on the homepage. When using a 3D Secured website, it redirects you to the official website of the card issuer to authenticate the payment.
Address Verification Service
Some websites will allow you to provide billing address affiliated with the credit card during the verification process. The transaction becomes successful only if the two addresses match.
With the constant growth of vulnerabilities in online transaction methods, it is essential to employ different tools to prevent fraud. This problem is not only faced in online businesses but the online gambling industry as well.
The use of fraud prevention tools involves scanning and tracking every online transaction to reduce the chances of fraud. This way, you can raise the alarm in case you suspect a malicious transaction.
As you may be aware, the top-recommended fraud prevention tools include 3D Secure, PCI Compliance, SSL Encryptioon, and many more. One of the many tricks used by fraudsters is chargebacks. Although a chargeback may be a result of a dispute, many of them are associated with stolen credit data.
Cybercrime is a war that cannot be ended overnight. As better security protocols are invented, so are the hackers. This is why you must use a website that users modern technologies like SSL, 3D Secure, and PCI at all times regardless if you are gambling or shopping.
The good news is that the future of online transactions is bright. The invention of cryptocurrencies like Bitcoin allow anonymous transactions will help reduce online fraud.