Home Posts tagged "credit card fraud"
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Fraud This Holiday Season Could be Even More Difficult to Detect as Fraud Rings Expand Mule Networks

Fraudsters use money mules for laundering as well as to receive and reship goods purchased with stolen identities. A large mule network provides more low risk shipping addresses for fraudsters to utilize as well as more options for strategically chosen shipping locations less likely to trigger fraud detection systems. A down economy and millions of

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Cyber Weekend Fraud Declines See 30% Increase Year-Over-Year and 50% Increase Relative to Rest of Year

The number of order attempts declined for suspected fraud increased by nearly 30 percent year-over-year for orders between Thanksgiving and Cyber Monday, according to data from iovation, that also found a fraud decline rate 50 percent higher than the yearly average (15 percent vs. 10 percent). Likewise, a cyber security firm found a 63 percent

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Comments Off on FTC Focuses on Synthetic Identities as New Account Fraud Continues to Rise.
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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

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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

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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

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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

 
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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

 
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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

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