Category: Article

The 7 types of eCommerce fraud schemes you should know about

As an eCommerce seller, there are multiple responsibilities that are juggled between you and your team: sourcing product, quality control, customer service, SEO, HR… One of the tasks that is often overlooked, until it is too late and very costly, is fraud prevention. With the frequency of data breaches that seems to be occurring regularly… Read more »

How to Choose Fraud Detection Software: Features, Characteristics, Key Providers

Originally posted on Altexsoft.com As we make more cashless payments for retail purchases, restaurants, and transportation – not to mention the increase in online shopping – wallets loaded with legal tender may become a thing of the past. According to 2018 research by BigCommerce, software vendor and Square payment processing solution provider, 51 percent of… Read more »

Online Fraud Losses Will More Than Double in Five Years, Juniper Forecasts

Originally posted on Digital Transactions by Kevin Woodward. Payments companies and retailers have a sobering forecast to ponder for online fraud. By 2023, global online fraud losses from e-commerce, airline ticketing, money transfer, and banking services will grow from $22 billion projected in 2018 to $48 billion, says Juniper Research in a new report. Thanks… Read more »

The Shocking True Cost of Chargebacks

Originally posted by CardNotPresent.com. How much would you guess businesses lost to chargebacks in 2017? $10 billion? Maybe even $20 billion? Generous guesses—but not generous enough. Or, maybe you keep up with statistics and you read that the total cost of chargebacks came to $31 billion in a single year. Sorry, you’re still not even… Read more »

Stop the Intrusion and Keep your Revenue: How to Prevent Online Fraud in Your Business

Contribution from freelance writer Jenny Holt According to the Association of Certified Fraud Examiners, a typical organization loses 5% of revenue every year to fraud. For businesses, online fraud typically manifests itself in the form of credit card fraud, identity theft, mobile phone transaction fraud, international purchasing fraud, phishing scams, and downloaded malware that collects… Read more »

Holiday shoppers drive site traffic and online sales higher

Originally posted on internetretailer.com By Matt Linder. All but one day so far this holiday season has produced $1 billion in online sales in the U.S., according to Adobe. Interest in online deals showed no signs of slowing down hot on the heels of a strong Thanksgiving weekend. Traffic to the top 25 U.S.-based online… Read more »

Machine Learning Meets Human Intelligence

Written by Liz Parks for STORES Magazine When e-commerce merchants try to manage their own fraud protection, they can invest substantial time and effort striving to make the right transaction decisions on their own. As they do, they risk significant losses from fraudulent orders or through “false positives” that mistakenly flag legitimate orders. According to… Read more »

Online payment fraud costing U.S. merchants billions

The ‘2016 American Express Digital Payments Security Survey’ reveals that 70% of merchants in the U.S. have seen sales conducted via digital channels rise in recent times. However, the report reveals that sales could be much higher if it wasn’t for payment fraud. Overall, nearly half (48%) of online shoppers who have made a purchase… Read more »

CNP Fraud Surging Despite Only 29% of Merchants Accepting Chip Cards.

Original post from cardnotpresent.com Nearly a year after the EMV liability shift in the U.S.—a move specifically engineered to incent retailers to install EMV-compliant POS systems in their stores—only 44 percent of merchants are equipped with the new terminals, according to a new report from The Strawhecker Group. Further, not all of those merchants that… Read more »