Roqqett Blog

November 23, 2021
Author: Patrick McDill

Black Friday Scammers target 4,151 UK Businesses

Find out how and why small UK businesses are at a higher risk of scammers this Black Friday.

Quick Summary


The UK's National Cyber Security Centre (NCSC) has warned that scammers have stolen customer card details from over 4,000 UK online stores by exploiting a vulnerability in popular e-commerce software Magento.


shopper

Up to the end of September, the NCSC claimed it warned 4,151 e-commerce organisations that they were running a vulnerable version of the software. Criminals intercept and copy debit or credit cards when used at an ATM or at an online checkout, which is known as card skimming. This is particularly worrying due to the start of Black Friday sales starting this week where UK online transactions are expected to top £9.2 billion.


“We want small and medium-sized online retailers to know how to prevent their sites being exploited by opportunistic cyber criminals over the peak shopping period,” said Sarah Lyons, NCSC deputy director for economy and society. “Falling victim to cyber crime could leave you and your customers out of pocket and cause reputational damage.”


Retailers are being urged to ensure that Magento and all software that their site contains is kept up to date regularly - not just during this peak shopping time. Hackers are getting more sophisticated in their endeavours to steal your card details.

Could the solution be to stop using cards all together?

Glenn Smith, CEO and Founder of Roqqett thinks so...

“Card fraud is a year round problem, but card companies don't want it advertised. A simple and secure solution is the UK’s open banking system - removing card companies completely and simply allowing your bank to connect with your retailer's bank. In the event that the retailer is compromised, your details are safe. Why? No cards means no card details to steal. ”

To keep your reputation intact - keep your payments secure.

How? Leverage the power of Open Banking.

The Roqqett Online Checkout is the best option for your e-commerce site, as it is fast, cost effective, and more importantly, safe for your customers. As Roqqett uses Open Banking technology, customers do not need to share any of their bank details to checkout. They can simply authenticate using their banking app which reduces fraud by 96% and makes the Roqqett Checkout safer than any bank cards.

Find out more about Roqqett's Card-free Checkout here.


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