This week, ThreatMinder analyzed Marketplace Supplier Fraud
Focus: Marketplace Risk
Reason: Supplier Fraud
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This past week we saw increased traffic and interest in marketplaces. We identified and distilled actionable information about the events. Get a full copy of our Weekly Analyst Report and read key highlights below.
Online Marketplaces are exposed to vulnerabilities and liabilities with respect to the suppliers that they do business with. They encounter supplier fraud in many ways, such as CNP payment fraud, low-value orders from fake customer accounts, order cancellation, collusion between a customer and supplier referral schemes and promotions. Any one of these scams can dilute customer trust, turn transaction times slower, make it harder for honest suppliers to compete. Fraud, due to the actions of Suppliers, has financial and reputational Risk for the Marketplaces that are affected by it. Proactively vetting Suppliers is one of the best ways to prevent this type of situation and protect against loss of customers and financial hardship.
WHAT WE DID:
• Used web crawlers, keyword searches, syntax, and other proprietary capabilities to find all related posts, articles, blogs, etc. related to our monitoring targets on the general web, the dark web, social media
• Filtered millions of pieces of information through A.I. algorithms and machine learning protocols to analyze tone and sentiment
• Verified threats with our human analyst team
WHAT WE FOUND:
• Most posting volume came from Twitter, with greater than 8,605 posts specifically from this platform
• Average sentiment fell below the national average to -0.24 for this situation
• Average risk rose above the national average to 19.22 for this situation
• Post volume exceeded 3,950.98 posts per Action
• Average High Risk Posts per Action were 295.99
• Payment – Fraud had the most posts of all Actions: 8,069
• Marketplace – Fraud had the highest risk of all Actions: 31.05%
WHAT THIS MEANS:
• Current overall information online for Marketplaces is MALIGNANT.
• Online Sentiment and Risk status for Marketplaces is MALIGNANT.
• ThreatMinder found posts and information specifically tying this Monitoring Target to questionable or related activities of this investigation
• Based on the FBI and CIA protocols and processes, ThreatMinder has determined that relevant information collected must be investigated further