Facebook Cyberattack Indicates Further Need for Enhanced Digital Security

Last week, Facebook announced it had experienced a major security breach that exposed more than 50 million accounts to hackers looking for information. As of right now, Facebook is saying that there has been no evidence of any accounts being compromised, but this could change as the company investigates further. Facebook did say that the attackers were targeting information, like “name, gender, and hometowns” that were linked to users’ profiles. According to Facebook, the vulnerability that attackers took advantage of was fixed in late September. This hacking of Facebook is nothing new as attackers continue to develop sophisticated ways to infiltrate companies and steal all-too important data they can use for malicious activities.

Millions of businesses and individuals are hacked every year, making it an issue nobody can ignore. Individuals that are hacked could see their credit scores plummet, new debts emerge, and other issues as cybercriminals use their identities to open up new accounts and steal. Merchants could lose customers and even close up for good after a cyberattack. If it can happen to a digital juggernaut, like Facebook, it could happen to any business.

How Does First Atlantic Commerce Safeguard Against Cybercrimes?

As a leading online payments solution provider in the Caribbean, our team at First Atlantic Commerce takes security and risk aversion very seriously. Our goal is to mitigate ecommerce and online risk by implementing online fraud prevention solutions, including a standalone or integrated pre-authentication service for merchants that have North American customers, to help merchants screen transactions and manage CNP fraud. In addition to that, our 3DSecure solution enables merchants to protect against fraudulent transactions and chargebacks and is available to all gateways, acquirers, and processors via our MPI. Our solution uses 3-D Secure™ technology, which was developed by Visa and MasterCard to add an extra level of security in CNP environments.

Finally, as an international credit card processing provider headquartered in Bermuda, we provide security solutions to merchants all over the world. We knew we had to partner with the best, which is why we work with Kount to deliver an award-winning all-in-one, SaaS model fraud and ecommerce risk management platform for merchants that process transactions in CNP environments. Merchants can rest assured when they enlist the services of First Atlantic Commerce, they will reduce their risk of fraud and maximize their potential revenue.