formats

Welcome to News & Events

Published on June 22, 2020, by in Industry News.

Welcome to The Fraud Practice’s FraudBlog; your source for updates on current events, commentary and best practices related to the eCommerce CNP payments and fraud industry.

Be sure to signup to see all of our content to include our free monthly FraudBlog Newsletter.

 
formats

Is Model-Based Fraud Scoring right for your business:

Model-Based Fraud Scoring is a technique used by merchants to predetermine the level of risk involved with an order in a card-not-present transaction.

Read More

 
Comments Off on Is Model-Based Fraud Scoring right for your business:.
formats

Should Legacy Rules-Based Systems be Ruled Out as New Marketplaces Emerge?

The accelerations in eCommerce Delivery, Marketplaces and the gig economy have companies scrambling to make better decisions, faster.  Model-based applications are being applied to address wider areas of fraud, as they can detect threats more precisely and efficiently. 

Read More

 
Comments Off on Should Legacy Rules-Based Systems be Ruled Out as New Marketplaces Emerge?.
formats

The Rise of Machine Learning and AI in the Fraud Prevention Industry

13% of organizations today have adapted Machine Learning and AI into their fraud detection protocols. Another 25% of organizations plan on converting from a rule-based system within the next two years.

Read More

 
Comments Off on The Rise of Machine Learning and AI in the Fraud Prevention Industry.
formats

The Cost of Friction Versus Security with New SCA Mandates

In Europe, digital retail payments were to be become more secure and less susceptible to fraud with the introduction of SCA. Yet a new standard for competition is being set for payment service providers to create SCA payment flows with minimal friction.

Read More

 
Comments Off on The Cost of Friction Versus Security with New SCA Mandates.
formats

B2B Merchants Struggle to Adapt to Regulatory Change

B2B merchants are presented with many hurdles as they are forced into new regulations. B2B firms are rushing to incorporate SCA procedures just like B2C e-commerce firms, but B2B transactions face more complex issues.

Read More

 
Comments Off on B2B Merchants Struggle to Adapt to Regulatory Change.
formats

Equifax Acquires Kount for $650M Becoming Third Credit Bureau to Acquire a Device ID Provider

Equifax finalized a deal to purchase Kount for $650 million, following suit after TransUnion acquired iovation in 2018 and Experian acquired 41st Parameter in 2013. Kount will maintain their headquarters in Boise, Idaho, as it becomes a part of Equifax’s United States Information Solutions (USIS) company. The deal is expected to close in the first quarter.

Read More

 
Comments Off on Equifax Acquires Kount for $650M Becoming Third Credit Bureau to Acquire a Device ID Provider.
formats

Fraudsters Raised the bar in 2020 Increasing the Average Fraud Purchase Value to Over $700

The average order value during the Black Friday weekend was up 64 percent year-over-year, but during the entire months of October and November the average order value of fraud attempts was up 70 percent.

Read More

 
Comments Off on Fraudsters Raised the bar in 2020 Increasing the Average Fraud Purchase Value to Over $700.
formats

Ecommerce Growth Brought in by COVID-19 Brought Added Pressures to Merchant Fraud Strategies

False positives were already a pain point for merchants but exacerbated by the pandemic. It is estimated that $146 billion worth of CNP purchase attempts are declined each year and more than half are falsely declined.

Read More

 
Comments Off on Ecommerce Growth Brought in by COVID-19 Brought Added Pressures to Merchant Fraud Strategies.
formats

More than 36 percent of Consumers Admit to Friendly Fraud

More than 36 percent of consumers admitted to falsely claiming a transaction was unauthorized or fraudulent while 31 percent falsely claimed a product never arrived, arrived damaged or was unsatisfactory, according to a recent study. While there is overlap of consumers who have made each of these false claims, this represents a meaningful share of consumers who knowing and willingly committed friendly fraud.

Read More

 
Comments Off on More than 36 percent of Consumers Admit to Friendly Fraud.
© The Fraud Practice LLC 2012