Fraud solution providers need to be prepared to competitively position and message against the new Amazon Fraud Detector risk modeling services. Here’s what risk vendors and sales professionals need to know about Amazon’s new risk management service offering and how to prepare for prospects or current clients considering this new service. Read More
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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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Keeping Up with the New Normal in eCommerce, Fraud and Payments
A common theme throughout 2020 has been the acceleration of digital adoption across both businesses and consumers. We take a look at the lingering impacts on payments and risk across multiple studies and reports comparing consumer and fraudster activity between 2019 and 2020. Read More
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Many Merchants Fail to Protect Against or Notify Users About Account Takeover
According to a recent survey, more than one-third of merchants have seen at least 10 percent of their user accounts taken over in the past year while more than one-quarter of merchants have no measures in place to protect against account takeover. Meanwhile, less than 8 percent of consumers were notified about account takeover incidents
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Who Is Looking Out For eCommerce Merchants?
Guest Post Written by: Daryn Griggs, Co-Founder, Payshield, Certified eCommerce Fraud Professional The events of COVID 19 have seen a massive increase in online shopping around the world including people who have never shopped online before. Naturally with an increase in online shopping comes an increase in online fraud, and the biggest fraud increase? Friendly Fraud!
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Welcome to News & Events
Welcome to The Fraud Practice’s FraudBlog; your source for updates on current events, commentary and best practices related to the eCommerce CNP payments and fraud industry. Be sure to signup to see all of our content to include our free monthly FraudBlog Newsletter.
Methods Fraudsters Use to Beat Two-Factor Authentication
While it is commonly accepted that passwords and the consumers who set them are inherently insecure, organizations put a lot of trust behind two-factor authentication (2FA) solutions. Here are several ways fraudsters have been able to beat this additional layer of security. Read More
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Government Agencies in Puerto Rico Fall Prey to Pair of Spear Phishing Attacks Sending Over $4 Million to Fraudsters
After compromising the email account of a government official at one agency, targeted phishing attacks were sent from this trusted contact to other government agencies purporting that bank accounts for receiving their payments had changed. Puerto Rico’s Industrial Development Company sent over $2.6 million while the Tourism Company paid $1.5 million to fraudster-controlled accounts held
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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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Nearly Four Thousand Data Breaches, Four Billion Records Compromised in First Half of 2019
More than 3,800 data breaches occurred in the first half of this year, a 54 percent increase from the first half of 2018. The number of consumer records compromised in data breaches increased 52 percent over this time, with 4.1 billion records compromised in the first half of 2019 and 3.2 billion of those coming
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