Home Archive for category "Fraud Prevention"
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Both Card Present and Card Not Present Fraud Grew in 2016

According to estimates from Javelin Strategy and Research, there was an 8 percent increase in U.S. consumers impacted by payment card fraud at the point-of-sale in 2016, while those victimized by card not present fraud grew at a much larger rate. Although the industry was bracing for an increase in CNP fraud with the rollout

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The Holiday Season is Also Fraud Season

It’s no secret that fraudsters increase their activity and fraud attempts during the holiday season when many merchants are at peak volume, but considering other fraud factors ACI Worldwide predicts a more than 40 percent increase in fraud this holiday season.  Meanwhile the FBI warns of fraudulent merchants, mobile apps with malware and work from

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MasterCard Launches Identity Check App Supporting ‘Selfie’ Authentication for SecureCode

MasterCard released their Identity Check app in early October, which is now available in 12 countries across Europe and set to be released globally in 2017. While this app has gotten the most attention for it’s ‘selfie pay’ feature, supporting the use of facial recognition in place of a password, it additionally supports fingerprint biometrics

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Comments Off on Loyalty Fraud: Over 3 Billion Accounts and $48 Billion at Stake.
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Visa and American Express Temporarily Ease EMV Chargeback Liability for Merchants

Announcements from three of the major card associations in June describe different approaches for reducing merchant liability and losses with counterfeit card fraud through April 2018 as the U.S. transitions to EMV. Visa estimates their changes will lead to 40 percent fewer chargebacks and 15 percent fewer dollars being charged back to merchants related to

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Over 150 Biometric and 2FA Products Certified to Meet FIDO’s Interoperability Standard

In early April, the Fast Identity Online (FIDO) Alliance announced that they have now certified over 150 two-factor authentication and biometric products for replacing static passwords, an increase of 50 percent just in the last quarter. These products meet the group’s specifications under their published Universal Authentication Framework, with several major mobile handset manufacturers and

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The Impact of Fraud Beyond Direct Financial Losses

Because eCommerce fraud is already painful with the reversal of funds, chargeback fees and lost product, the indirect costs are often ignored or are just an afterthought. Recent studies show the lasting impact payment fraud has on consumers, merchants and issuers, indicating that the cost of fraud continues beyond the initial loss. Increasing fraud has

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Press Release: The Fraud Practice and CardinalCommerce Release the 3rd Annual Consumer Authentication Survey Report After Presenting Key Survey Results at MRC Vegas

Sarasota, FL, March 15, 2016 / The Fraud Practice, Inc. The Fraud Practice and CardinalCommerce have released the third annual Use of Consumer Authentication in eCommerce white paper, detailing the results of the 2016 Consumer Authentication Survey. Tara Lavelle, VP of Marketing at CardinalCommerce, and Justin McDonald, Sr. Risk Management Consultant with The Fraud Practice,

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MasterCard to Launch Identity Check App in 14 Countries this Summer, Bringing Biometrics to More Card Absent Transactions

MasterCard showcased their new Identity Check product at the Mobile World Congress in late February, announcing that after successful trials they will be rolling it out this summer in North America and across much of Europe. Identity Check is an application consumers will be able to download onto their mobile devices, tablets and PCs that

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Fraud Attempts Increased this Holiday Season for Digital Download, In-Store Pickup and Overall

Benchmark data of top global retailers from ACI Worldwide along with data tracked by the eBay Enterprise Holiday Fraud Index show apparent strategies and key dates where types of fraud attacks spiked during the holiday season, while overall fraud attempts between Thanksgiving and New Year’s Eve increased by 8 percent compared to 2014. Merchants with

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© The Fraud Practice LLC 2012