Category: Article

Beware of the renewed ‘bait and switch’ fraudster scheme

A harmful fraud scheme from the past has recently reemerged—ready to strike merchants when their defenses are low. Here’s what you need to know. Everyone loves the revival of an old classic. Except when it comes to fraud. Recently, fraudsters have revived a conniving scheme that can lead to chargebacks on high-value purchases. With the… Read more »

ARE FREIGHT FORWARDERS A RED FLAG FOR FRAUDULENT BEHAVIOR?

Receiving an order with a request for delivery to a “freight forwarder” or “reshipper” can make even the most experienced eCommerce merchant wary. For many online sellers, a freight forwarder is strongly associated with fraud—often, it’s assumed to be a fake address used by scammers—and for good reason. In this blog post, we’re breaking down… Read more »

Update: How Is Online Fraud Trending?

Fraudsters and online stores have played an evolving game of cat-and-mouse ever since the first eCommerce platform was invented. In this article, we’ll talk about some of the latest emerging patterns of fraudulent behavior and what it’s costing businesses that don’t have an effective fraud prevention solution, so you can stay ahead of the curve…. Read more »

What Is a Fraud Mule Attack and How Do I Prevent One?

A new fraud trend is developing in the eCommerce world, and it’s especially hard for most fraud detection solutions to catch. Known as a fraud mule attack, parcel mule scam, or reshipping scam, this notorious form of fraud harms innocent victims beyond the merchants that are scammed. In this blog post, we’ll explain how fraud… Read more »

The 7 types of eCommerce fraud schemes you should know about

This article was written by our director of business development for Entrepreneur.com. As an eCommerce seller, there are multiple responsibilities 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… 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 »