How Cloud Technology Tackles Online Shopping FraudJanuary 3, 2018
Article Written by Sally Perkins
Online transactions are increasingly being targeted by fraudsters, with a February 2017 report showing online card fraud rising 40% since 2015. Amongst many of the technologies seeking to combat this, is cloud security innovations. With the versatility and ever-evolving nature of the cloud, a few great ways to combat online fraud have been thrown out.
What form does this technology take? Big technology players have long sought to make their cloud tech creditor compatible to allow for the widest range of transactions, but that’s the baseline.
AI Enabled Cloud Storage
In basic terms, the cloud is simply the functions of a computer spread out into the ether of the internet. On its own, it doesn’t entail great security detail. Companies the world over have innovated to meet this demand, and it has had an impact on their consumers. One of the latest iterations of this technology is the integration of AI into cloud services, which is protecting the data of customers – so they don’t have to. With many consumers enjoying relaxed lending regulations and looking to obtain a credit card, data is being uploaded onto the cloud in large amounts. Amazon, for example, employ AI to intuitively search and protect customer data against online fraudsters within their cloud services.
Cloud Web Security
Cloud web security, or CWD, is a system where transactions and data are passed through a security system in the crowd between each point. What this allows for is real-time assessment of data by experts in order to effectively secure your data and identify any hitches in the roads. What this means is that you are able to have a certain level of assurance over your transactions, whilst also having a paper trail for the worst case situation. Banks and insurers will be more open to reimbursement with a clear ‘story’ to follow.
Finally, a nod to the technology brought to global attention by the mesmerizing Bitcoin story. Blockchain is a cloud-hosted technology, where a long series of derivatives and pass-codes mean that only the right people can access any transaction. How can this help you when shopping? Well, it basically makes it incredibly hard for any would-be fraudster to access any part of the transaction style and extract precious customer information. It does this by chopping every transaction into many tiny constituent parts.
About the Author
Sally Perkins is a professional freelance writer with many years experience across many different areas. She made the move to freelancing from a stressful corporate job and loves the work-life balance it offers her. When not at work, Sally enjoys reading, hiking, spending time with her family and travelling as much as possible.