Financial Fraud Action (FFA) UK, a financial services industry research and reporting group, recently released their 2016 year-end payment card and banking fraud totals which showed an increase in card fraud overall, primarily led by card not present channel fraud. Changing trends include an increase in fraud attempts but targeting lower order amounts compared to
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According to recent data from Experian, eCommerce fraud was 15 percent higher in the first half of 2016 compared the same period the year before, but for the full-year eCommerce fraud attack rates increased to 33 percent. This implies an even greater increase in CNP fraud in the second half of the year, and it
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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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Whether an organization is building a custom modeling solution in-house, using a service provider or combining both in-house and third party resources, the fundamental components of an effective custom modeling solution are the same. Statistical models must first be created, which requires historical data, a team of modeling experts, as well as the right tools
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The latest figures on card fraud losses in the United Kingdom, coming from industry group Financial Fraud Action UK, support the expectations of most industry experts that when EMV rolls out in the United States it will have a positive impact on deterring counterfeit cards and fraud at the point-of-sale, but lead to more fraud
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While eCommerce and mobile payment volumes hit record levels on Black Friday and Cyber Monday, the fraudsters were seizing the opportunity to attack. This included increased fraud attempts from mobile devices and higher average order values for fraudulent purchase attempts. Read More
According to a recent report from Halon, an email security provider, 94.7 percent of Americans received one or more emails that contained a virus, spyware or malware while nearly 9 percent opened an attachment infecting their computer or device. Read More
