7 Types of Cyber Fraud

Friendly fraud: When a customer (the fraudster) complains and claims a refund for a purchase.

Clean fraud: When a fraudster uses a stolen credit card to make a purchase.

Identity theft fraud: When a fraudster obtains and uses another person’s identifying personal information to commit fraudulent actions, for instance, an online purchase.

Phishing fraud: Phishing takes place when a hacker pretends to be a known contact and requests personal data, or tries to get you to install malware, which can then retrieve the data itself.

Card testing fraud: It occurs when the fraudster makes low-value test-purchases to validate stolen card information or randomly generated card numbers.

Re-shipping fraud: The fraudster “hires” an unknowing third-party to re-ship products purchased with stolen card information.

Triangulation fraud: Triangulation refers to the case in which the fraudster creates a fake online storefront, selling goods at cheap prices.