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Consumer-facing technology fraud: Economics, attack methods and potential solutions

Lookup NU author(s): Mohammed Ali, Dr Muhammad Ajmal Azad, Mario Parreño Centeno, Professor Feng Hao, Professor Aad van Moorsel

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Abstract

© 2019 Elsevier B.V. The emerging use of modern technologies has not only benefited society but also attracted fraudsters and criminals to misuse the technology for financial benefits. Fraud over the Internet has increased dramatically, resulting in an annual loss of billions of dollars to customers and service providers worldwide. Much of such fraud directly impacts individuals, both in the case of browser-based and mobile-based Internet services, as well as when using traditional telephony services, either through landline phones or mobiles. It is important that users of the technology should be both informed of fraud, as well as protected from frauds through fraud detection and prevention systems. In this paper, we present the anatomy of frauds for different consumer-facing technologies from three broad perspectives — we discuss Internet, mobile and traditional telecommunication, from the perspectives of losses through frauds over the technology, fraud attack mechanisms and systems used for detecting and preventing frauds. The paper also provides recommendations for securing emerging technologies from fraud and attacks.

Publication metadata

Author(s): Ali MA, Azad MA, Parreno Centeno M, Hao F, van Moorsel A

Publication type: Article

Publication status: Published

Journal: Future Generation Computer Systems

Year: 2019

Volume: 100

Pages: 408-427

Print publication date: 01/11/2019

Online publication date: 11/05/2019

Acceptance date: 18/03/2019

ISSN (print): 0167-739X

ISSN (electronic): 1872-7115

Publisher: Elsevier B.V.

URL: https://doi.org/10.1016/j.future.2019.03.041

DOI: 10.1016/j.future.2019.03.041

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