More than 36 percent of Consumers Admit to Friendly Fraud

More than 36 percent of consumers admitted to falsely claiming a transaction was unauthorized or fraudulent while 31 percent falsely claimed a product never arrived, arrived damaged or was unsatisfactory, according to a recent study. While there is overlap of consumers who have made each of these false claims, this represents a meaningful share of consumers who knowing and willingly committed friendly fraud.

Read More

Mobile Wallets Responsible for The Rise in Friendly Fraud

Merchants are less likely to dispute chargebacks on transactions originating from mobile wallets and significantly less likely to win those they choose to represent. Consumers may be more prone to commit friendly fraud with mobile wallet transactions and the dishonest ones may already be exploiting this trend.

Read More

New Survey Report & White Paper: Attract, Develop and Retain Talent in Payments and Risk


This joint survey report and white paper from The Fraud Practice and Executive Search firm Greenings focuses on the talent planning needs and concerns of organizations while providing insights around attracting, developing and retaining talent in the payments and fraud space.

Download the Free Report

The Fed and FinCEN Propose to Lower Reporting Threshold on International Transfers to $250

The Financial Crimes Enforcement Network (FinCEN), along with the Board of Governors of the Federal Reserve, recently proposed new rules related to the Bank Secrecy Act (BSA) and anti-money laundering regulations requiring financial institutions to collect and report information related to international transfers. The proposed changes would lower the threshold requiring when this information is collected from $3,000 to $250. The proposal also broadens the reporting rules to apply to digital or cryptocurrencies.  The proposed rule changes are currently open for industry comments through November 27.

The Bank Secrecy Act requires financial institutions to collect and retain information on certain funds transfers and transmittals of funds, with the additional requirements being defined in the USA PATRIOT Act and Anti-Money Laundering Act.

Read More

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

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 people out of work makes it easier for fraudsters to recruit money mules with work-from-home schemes.

Money mules range from knowingly complicit to those duped by fraudsters. Whether they believe they are a holiday gift wrapper or know they are aiding and abetting fraud, these mules become more willing to participate in activity they know, or even think might be, illicit when out of work or when times are tough.

Read More

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!

Read More