Home Posts tagged "credit card fraud"
Comments Off on FTC Focuses on Synthetic Identities as New Account Fraud Continues to Rise.
formats

Merchants Should Already be Planning for Increased Fraud Attempts Post-EMV

According to forecasts from Aite Group nearly all credit cards issued in the U.S. will have EMV capabilities by 2018 when CNP credit card fraud losses are expected to reach $6.4 billion in the United States. As EMV cards become commonplace among U.S. cardholders it will make counterfeit card fraud more difficult and drive more

(More)…

 
formats

The Impact of Manual Reviews on Your Customers and Brand

The Fraud Practice discusses the importance of taking the time to consider the options for performing manual review as it is a good way to protect the two most important assets a merchant has: their customer and their brand. When an order has a mix of high and low risk signals or the merchant just

(More)…

 
formats

250 million stolen credit cards for sale online

According to estimates from fraud prevention startup Trustev, there are 250 million compromised payment card numbers for sale in the online black market. The ease with which fraudsters can obtain this information emphasizes the importance of being able to effectively authenticate and verify identity information provided online. Trustev, an Ireland based startup and fraud prevention

(More)…

 
formats

FICO Data Shows Fraud Against U.S. Issued Credit Cards Continues to Increase, Led by CNP Fraud

A recent report from FICO found that the incidence rate of credit card fraud on U.S. issued cards increased by 17 percent over a nearly two-year period while card not present fraud grew at the fastest rate. Read More

 
formats

France, Russia and UK Lead Increase of Card Fraud in Europe

According to data from FICO and Euromonitor International, card fraud losses increased 6 percent in 2012 from 2011 while 80 percent of this increase came from Russia, France and the United Kingdom. Read More

 
formats

Details Released About the Largest Hacking and Data Breach Case Ever Prosecuted in the United States

A recently unsealed indictment from the U.S. Attorney’s offices details the charges of four Russian fraudsters and one Ukrainian about their involvement in hacking and data breaches starting back in 2005 that compromised over 160 million credit cards. The hackers have ties to Albert Gonzalez who was charged in 2010 for his involvement with the

(More)…

 
formats

Largest Credit Card Fraud Scheme Uncovered by U.S. Justice Department Highlights Importance of Authentication in Preventing Identity Fraud

A fourth defendant plead guilty in early August to his participation in an identity fraud scam where over 7,000 false identities were created being used to obtain credit cards and lines of credit and ultimately causing $200 million dollars in fraud losses. Lack of proper identity authentication checks allowed the fraudsters to reuse addresses and

(More)…

 
formats

Organized Fraud Ring Obtained Credit Cards, Increased Credit Limits with Fake Identities Stealing $200 Million

Eighteen members of a sophisticated fraud ring operating out of New Jersey were arrested in early February for their massive scam creating thousands of fake identities, obtaining credit and increasing credit limits for the fake identities, and then cashing in with a bust-out attack. The Department of Justice has documented $200 million in losses and

(More)…

 
© The Fraud Practice LLC 2012