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Layoffs? Watch Out

Don’t learn the hard way about what a disgruntled employee is capable of doing. Fannie Mae waited to remove root access from a terminated employee and almost suffered dire consequences. Managers need to think about procedures and practices to protect their companies exposure when letting employees go, especially those in payments or fraud departments.

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I Got You Once, And I Will Get You Again

If a fraudster or fraud ring can sucessfully perpetrate fraud, you can pretty much assume they will continue to do so until you stop them. Profiling three cases we look at the ‘typical’ cybercriminal, a computer savvy male under 30, and why they continue to engage in cybercrime even after being caught once before. Getting into the mindset of a cybercriminal may just help you stop them.

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Only Use Your ATM PIN at the ATM or You’ll Pay the Price

Many credit and debit cards boast zero fraud liability but there are fundamental differences in the legal obligations of issuers to cover fraud losses between credit cards and debit cards. Additionally, zero fraud liability may only apply to signature-based debit transactions for certain card brands – so using your debit card with the PIN at the point-of-sale may change your fraud liability rights.

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When the Fraudster is Someone You Trust

All too often employees with easy access to the business’ or customer’s financial information take advantage of lax monitoring and security procedures. Here we profile several cases of individuals who took advantage of their employer, friend or neighbor’s lack of checks and balances.

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Requiring CVV at Checkout Could be Dropping Sales Conversion by 40%???

Requiring customers to provide the card security code (CSC, CVV, CVV2, CID) at checkout will reduce fraud attempts, but can also cause a decline in sales conversion. Adding this step to the checkout process has shown to cause a nominal reduction in sales conversion, but how severe are the consequences?

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© The Fraud Practice LLC 2012