As greater security control mechanisms are implemented at the point of sale, retailers in the U.S. may see a drastic increase in e-commerce fraud, similar to what has been widely observed in the United Kingdom and Europe following the rollout of Europay, MasterCard, and Visa (EMV) chip-and-PIN technology approximately ten years ago. Consumers, retailers, payment processors, banks, and card issuers are all impacted by the security risks of e-commerce transactions. Retailers bear the cost for fraudulent, card-not-present (CNP) transactions, motivating them to reduce fraud in order to avoid damage to reputation and eliminate potential revenue losses, which have been estimated to be over $3 billion dollars. Successfully reducing e-commerce fraud requires many, layered strategies, and includes an increased level of assurance in purchaser or user identity. In collaboration with stakeholders in the retail and e-commerce ecosystem, the NCCoE has identified that implementing multifactor authentication (MFA) for e-commerce transactions, tied to existing web analytics and contextual risk calculation (by the retailer and/or by a federated identity provider), can increase assurance in purchaser or user identity and thus help reduce the risk of false online identification and authentication fraud. The NCCoE understands that retail is a volume-reliant business and that consumers and retailers will adopt multifactor authentication mechanisms as long as they do not unnecessarily encumber the purchasing process or disrupt the user experience.
Building on this collaboration with the business community and vendors of cybersecurity solutions, the NCCoE will explore methods to effectively identify and authenticate purchasers during e-commerce transactions and develop an example solution composed of open-source and commercially available components. This project will produce a NIST Cybersecurity Practice Guide—a publicly available description of the solution and practical steps needed to implement practices that effectively identify and authenticate purchasers during e-commerce transactions.
As greater security control mechanisms are implemented at the point of sale, retailers in the U.S. may see a drastic increase in e-commerce fraud, similar to what has been widely observed in the United Kingdom and Europe following the rollout of Europay, MasterCard, and Visa (EMV) chip-and-PIN...
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As greater security control mechanisms are implemented at the point of sale, retailers in the U.S. may see a drastic increase in e-commerce fraud, similar to what has been widely observed in the United Kingdom and Europe following the rollout of Europay, MasterCard, and Visa (EMV) chip-and-PIN technology approximately ten years ago. Consumers, retailers, payment processors, banks, and card issuers are all impacted by the security risks of e-commerce transactions. Retailers bear the cost for fraudulent, card-not-present (CNP) transactions, motivating them to reduce fraud in order to avoid damage to reputation and eliminate potential revenue losses, which have been estimated to be over $3 billion dollars. Successfully reducing e-commerce fraud requires many, layered strategies, and includes an increased level of assurance in purchaser or user identity. In collaboration with stakeholders in the retail and e-commerce ecosystem, the NCCoE has identified that implementing multifactor authentication (MFA) for e-commerce transactions, tied to existing web analytics and contextual risk calculation (by the retailer and/or by a federated identity provider), can increase assurance in purchaser or user identity and thus help reduce the risk of false online identification and authentication fraud. The NCCoE understands that retail is a volume-reliant business and that consumers and retailers will adopt multifactor authentication mechanisms as long as they do not unnecessarily encumber the purchasing process or disrupt the user experience.
Building on this collaboration with the business community and vendors of cybersecurity solutions, the NCCoE will explore methods to effectively identify and authenticate purchasers during e-commerce transactions and develop an example solution composed of open-source and commercially available components. This project will produce a NIST Cybersecurity Practice Guide—a publicly available description of the solution and practical steps needed to implement practices that effectively identify and authenticate purchasers during e-commerce transactions.
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