Home Posts tagged "identity fraud"
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Who Will be Displaced by Amazon’s New Fraud Detection Service?

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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Number of Disclosed Data Breaches Down 50% but Exposed Records Up 400% in First Half of 2020

While there are some questions around the number of data breaches thus far, 2020 is shaping up to be a record year in terms of number of records compromised at least. According to a study on data breaches and compromised data during the first six months of the year, there have been just over 2,000

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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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State Unemployment Systems Battered With Breaches and Identity Fraud

Published on May 18, 2020, by in Data Breach.

The state of Arkansas shut down their unemployment application website which exposed the PII of nearly 30,000 applicants and Illinois faced a similar issue. Meanwhile, the U.S. Secret Service reports that hundreds of mules are being used to funnel unemployment benefits to an organized fraud ring in Nigeria falsely filing for benefits with stolen identity

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The Role of Custom Modeling in Lending, Card Issuance and Insurance

Fraudulent insurance claims are responsible for more than $80 billion in losses per year in the United States, leading to higher premiums for all policy holders. It is estimated that card issuers will lose $1.3 billion this year from cards issued to synthetic identities. Total fraud losses from synthetic identities receiving loans and credit cards

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LexisNexis Makes Two Major Risk & Identity Acquisitions in First Two Months of 2020

LexisNexis prepares to fund two acquisitions totaling $855 million as parent company RELX looks to buy two major names in the identity authentication and risk management space. This includes the acquisition of ID Analytics from NortonLifeLock in January followed by the purchase of email authentication vendor Emailage, announced in mid-February. Both deals are expected to

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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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Massive Wawa Data Breach Puts Unknown Number of Cards in Hands of Fraudsters

Wawa announced a large-scale malware compromise breaching payment cards processed at the pump or inside between March 4 and December 12, 2019, also admitting that the company “does not have sufficient information to determine” how many payment cards were exposed. The gas station and convenience store has more than 850 locations along the east coast

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