Online Retail Woes: Lost License Leads to Lost Money

  • Identity Theft, Internet Fraud

Although this is not the type of blog we enjoy writing, it gives certain insight on how important identity verification and authentication is for online business. Just this past week, a member of our marketing team was hit with online identity theft after losing her wallet that contained her drivers license and debit card. Why was this particular case so shocking? Our team member realized her debit card had landed in the wrong hands when she received an invoice from a major online retailer for almost $1,000 worth of charges she never made. This came as quite a shock because this retailer is not only one of the largest online, but one of the most trusted.

After the thief had her information, all they had to do was create a new account online and enter in her information. As she investigated the case more, she found that there were discrepancies between her debit card billing address and the one the thief used. After speaking to a representative from the online retailer they ensured that there was no way the thief could have made charges without having the correct billing address. Being the detective she is, our team member tested this theory and made a fake purchase on her new card and entered in a different billing address. Sure enough, the transaction went through.

While our team member is still in the process of getting this case of identity theft closed, we couldnt help but questions this online retailers fraud prevention solutions (or lack there of). How could a major online retailer let it be that easy to steal from someone else? Online businesses must protect their consumers by implementing identify verification and authentication into their platforms. Whether its a check out, check account, or login function - anytime personal information is required online; companies must implement a means of fraud prevention to protect their reputation and their consumers.

[Contributed by EVS Marketing]