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Gilbert Fiorentino is a co-founder of TigerDirect, a top 10 consumer electronics and computer equipment etailer (#6 on the Hitwise list), but despite the size they’ve grown to, credit card fraud still irks Gilbert in a very personal way, as though the cybercriminals TigerDirect confronts every day were stealing the cash right from his wallet. You get the feeling listening to him that he’d gladly confront them in a dark alley.
He says the reason retailers are losing the battle against cyberfraud is that the criminals are working together, selling stolen card numbers and sharing their code scripts and “best practices” for committing fraud, while the merchants work alone. Gilbert contends that if every single merchant joined together to share what they know, online fraud could be completely eliminated, and even enthusiastically encourages (even wishes for) his competitors to join the Global Fraud Fighting Community.
He tells his story in the attached video.