The SEON Online Fraud Dictionary – All The Terms You Should Know to Protect Your Business

All the analysts agree: online fraud is going to increase in the upcoming years. And at SEON, our job is both to fight it, and to help companies prepare against attacks.

This is why we wanted to compile a list of all the useful terms you might need to understand, prevent, and combat fraud.

The vocabulary of online security and cybercrime evolves fast, and it’s important to keep up with the latest terms. But it’s also important to know the basics if this is your first entry into the world of cybercrime. We’ve compiled a list of both in this dictionary.

2 FA

Stands for 2-factor authentication. When a user wants to access a website or app, they need to provide a single piece of authentication (SFA) in the form of a password. Adding another method is called 2-factor authentication, and it improves security. You will also hear the name multi-factor authentication. Authentication factors can include facial scans, ID cards, SMS confirmations, security tokens, or biometric fingerprints, amongst others. According to Google, 2FA helps reduce 66% of targeted attacks, and 99% of bulk phishing attacks.


A security protocol designed for online credit and debit card transactions. It is designed as an additional password validated by the issuer, which helps transfer liability to the customer in case of fraud. 3D refers to three domains where the information is checked: issuer domain (where the money is taken from, acquirer domain (where the money is going to), and interoperability domain (the whole payment infrastructure, including software, merchant plugin, card scheme, servers, etc…).The newest version of the protocol, 3D Secure 2.0, adds more data points like device and IP. As of late 2019, it has yet to be implemented by all merchants and issuers.


The fraudulent practice of creating and maintaining multiple accounts with a platform in order to resell them later. Very popular with social media sites. See also: Bot attacks


A form of identity fraud where fraudsters gain access to a victim’s account. This can be for an online store account, bank account, or even app login. The goal is usually to extract monetary funds, but account takeovers (ATOs) are increasingly used for other means, such as abusing promotions and coupons, extracting more user information, or cheating on gambling sites.

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