Home Posts tagged "identity fraud" (Page 5)
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Recent Hiccups Hindering Apple Pay

A recently released consumer survey finds that more than two-thirds of people who attempted using Apple Pay in-store had problems at the point-of-sale and many were not able to make the purchase from their mobile device. These consumer frustrations follow recent news of lax authentication with issuing banks leading to high rates of fraud on

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Target Reports Cost of Data Breach was $162 Million

The late 2013 data breach impacting 70 million Target customers continues to cost the company which in their latest financial statements reported $4 million in related expenses for Q4 2014. The total loss to Target for 2013 and 2014 related to the data breach was $162 million, but would have been even larger if not

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Increase in Mobile Fraud Outpaces Mobile Transaction Growth

According to a recent study from LexisNexis mobile commerce represents 14 percent of all transactions, but 21 percent of fraudulent transactions are attributed to the mobile channel. Meanwhile the value of fraud losses for mobile channel merchants quickly grew from 0.8 percent of revenue in 2013 to 1.36 percent of revenue in 2014. According to

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U.S. Proposes National Data Breach Notification and Protection Standards

This week the White House proposed the Personal Data Notification and Protection Act, which seeks to set a national standard for data breach notification requirements replacing the patchwork of separate laws across 47 states. If passed into law, this act would strengthen and more clearly define what is required of organizations that suffer data breaches,

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Identity Document Verification as a Lowest Common Denominator Risk Management Technique

The Fraud Practice discusses common issues merchants face with stale or unavailable identity data when attempting to authenticate and verify a user online and how identity document verification can be applied as a “lowest common denominator” technique in the latest feature article. Too often organizations associate identity document verification with the banking and financial services

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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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Holiday Shoppers More Likely to Use Cash and Avoid Retailers Who Suffered Breaches

The Target data breach was the story of the 2013 holiday season and several other major retailers have failed to prevent the compromise of their customers’ payment and personally identifiable information since. With this in mind, it should not be too surprising that 45 percent of cardholders responded “definitely not” or “probably not” when asked

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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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