Month: May 2016

Research shows that manual review is the largest expense eating at fraud budgets

According to CyberSource’s 2016 Fraud Benchmark report, companies allot most of their fraud funds to the manual review process. Of those manually reviewed, 82% transactions are approved. Because of the high acceptance rate of manually reviewed orders, companies are tightening their screening process to decrease that number in hopes of cutting costs and accepting more… Read more »

Study Predicts CNP Fraud Will More Than Double By 2020

In a recent study conducted by Juniper Research, they found that CNP (Card Not Present) fraud will significantly increase to more than double by 2020. They attributed this jump to the implementation of the EMV chip in brick and mortar stores, which has already caused fraudulent activity to shift online by 11% since October. Because… Read more »

Payments Fraud: What it is and how to manage it effectively

Battling eCommerce credit card fraud can be an incredibly time consuming, often frustrating, endeavor. Many companies have dedicated staff or entire fraud departments focused on reducing fraud. Often, the cost of running a fraud-prevention campaign can be more costly than the losses incurred by fraud. A successful anti-fraud solution targets the cost of fraud rather… Read more »

Read how NoFraud saved Certified Watch Store countless hours of manual review and completely stopped their fraud.

When Ezzie Schaffran, chief operating officer of Certified Watch Store, approached us last August, his site, CertifiedWatchStore.com, was using a hodgepodge of outside and in-house security measures to catch payment fraud. Schaffran has a long history of fighting online payment fraud, having served as COO of jewelry e-retailer Ice.com. He considered a crop of vendors… Read more »

Fraud Prevention Tips Every eCommerce Merchant Should Know

In 2014, eCommerce fraud cost US retailers 32 billion dollars (LexisNexis true Cost of Fraud Study 2015). That amount soared 11% as fraudsters refocus their efforts on eCommerce enterprises since the implementation of EMV chip technology that makes brick and mortar store transactions more secure. Unfortunately, as fraud prevention methods get more sophisticated, so do the… Read more »