RH-ISAC Cyber Thursday: How is Gift Card Abuse damaging your business?

Thursday, October 27th 2022 16:00 GMT / 17:00 CET

About this event

Gift card abuse is committing fraudulent activity using gift cards, rather than cold hard cash. Attackers monitor the gift card account activity on the retailer’s online portal, ready to strike when the gift card has been purchased. Gift cards are frequently acquired in bulk, to the value of several hundred dollars, and resold for a fraction of their worth.

The attacker has nothing to lose and purely profits to gain, making gift card abuse a highly attractive target for cybercriminals and an expensive problem for retailers.

In this session you will learn:

  • The true value of gift cards within the criminal market
  • Why gift card abuse is dubbed the 'double-edged fraud' that's cutting through retail.
  • How Netacea's Business Logic Attack Definition (BLADE) Framework can be applied to explain the make-up of automated attacks designed to exploit the gift card process.

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Meet our speakers

  • Matthew Gracey-McMinn, Head of Threat Research

    Matthew Gracey-McMinn is an experienced Cyber Threat Intelligence professional with an MPhil from the University of Oxford. In his current role at Netacea, he researches and investigates the impact of malicious bots on online businesses and their customers, having previously worked with the world's largest companies responding to global cybersecurity incidents.

  • Tom Platt, Bot Specialist

    Tom joined Intechnica in 2012 and has been instrumental in the sales growth of Netacea since its inception. He works closely with Netacea's eCommerce customers, Product and Threat Research teams to drive industry research, thought leadership and knowledge sharing. Tom’s focus is to ensure Netacea and our customers stay ahead of emerging bot threats and share this knowledge with the wider community.