Category: Fraud Prevention

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 »

Fed Report Pegs CNP Fraud as Retailers’ Biggest Concern

Originally posted by CardNotPresent.com. New research from the Minneapolis Fed indicates that retailers are more concerned with fraud in their online channels than any other kind of fraud. Across nearly every size business, Fighting Fraud in the E-Commerce Channel: A Merchant Study found that not only was CNP fraud considered their greatest threat, but half… 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 »

The Need for Speed

Customers want a secure, fast, uninterrupted online shopping experience (thanks Amazon!). Merchants want to accept as many sales they receive yet are apprehensive about fraud. This fear motivates them to place a large percentage of order on hold for manual review. Many eCommerce businesses have in-house solutions that monitor each transaction with the tools purchased… Read more »

CNP Session: Fraud Departments – Build vs. Buy

One of the biggest decisions for a merchant is whether to go with a third-party fraud solution or to build one internally. A panel of fraud experts from 11 Main, Career Builder, The Source and New Balance shared their experiences and answered audience questions on Day 2 of the 2016 CNP Expo in Orlando, Fla…. Read more »