Hackers Hit Amazon’s Third-Party Sellers in Fraud Blitz
Hackers are targeting the growing population of third-party sellers on Amazon.com, using stolen credentials to post fake deals and steal cash. In recent weeks, attackers have changed the bank-deposit information on Amazon accounts of active sellers to steal tens of thousands of dollars from each, according to several sellers and advisers. Attackers also have hacked into the Amazon accounts of sellers who haven’t used them recently to post nonexistent merchandise for sale at steep discounts in an attempt to pocket the cash, those people say.
Total Retail's Take: Fraud, from counterfeit merchandise to hacked seller accounts, has been an ongoing issue for Amazon. The online retailer took steps last year to curb counterfeit products, including testing a new set of digital tools called Brand Central. Heavily reliant on its third-party sellers (they account for more than half of sales), Amazon needs to ensure those people and brands have trust in the security of the marketplace. This latest incident of hacked seller accounts has put in doubt the security of Amazon's marketplace for some sellers. A potential crack in the armor for the online giant that other brands can exploit? I would expect at least some to try.