PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

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PYMNTS

MARCH 14, 2020

With the coronavirus putting eCommerce front and center, it has unfortunately been joined by its cousin: online retail fraud. At the same time, a new report shows that fraudsters will take more than $12 billion off the table. percent of all eCommerce fraud , is still account takeover. The main offender, constituting 29.8

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PYMNTS

OCTOBER 12, 2020

This growth is a double-edged sword for merchants, as they need to keep up with consumers’ shifting payment expectations online and in-store while protecting their data against increasing numbers of fraud attacks. Shifting Payment Behaviors And Fraud .

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PYMNTS

JANUARY 12, 2021

Organized crime rings are taking advantage of the pandemic, looser police enforcement and a softening in anti-shoplifting laws to swipe tons of merchandise from retail stores and warehouses across the United States. KPIX-TV reported that the shop proudly advertised on Facebook Marketplace that customers “never pay retail.”.

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PYMNTS

NOVEMBER 16, 2020

The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S.

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The Paypers

APRIL 9, 2024

Adyen and the Centre for Economic Business and Research have reported that over a third of UK retail businesses lost on average GBP 1.4 mln each to fraud in 2023.

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PYMNTS

AUGUST 7, 2020

District Court for the Southern District of Florida with wire and bank fraud and conspiracy for seeking $24 million in forgivable PPP loans. They were charged with conspiracy to commit bank and wire fraud, bank fraud, wire fraud, false statements to a financial institution and money laundering.

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PYMNTS

SEPTEMBER 9, 2020

A new report found that 58 percent of merchants now accept contactless cards, compared to the 40 percent that did so in 2019. How Music Retailers Can Harmonize Security And Seamlessness. Merchants have also been retooling their checkout experiences to suit consumers’ desires for low- or no-contact shopping.

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PYMNTS

DECEMBER 29, 2020

While fraud affects less than 1 percent of all card purchases, consumers who do lose funds from their bank accounts must go through lengthy and often stressful processes to get their money back. Leveraging Machine Learning, Rules-Based Analysis To Fight Debit Fraud. Around The Next-Gen Debit World. Read the full story in the Tracker.

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PYMNTS

JANUARY 27, 2020

Retail keeps embracing numerous new technologies, and biometrics is not only one of them, but an area of recent growth and development, including via some of the biggest names in commerce. Take Amazon, which continues to expand its brick-and-mortar retail footprint, and the technology underlying those stores. Larger Trends.

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PYMNTS

JANUARY 9, 2019

Retailers raked in more than $850 billion during the 2018 holiday season, marking the fastest holiday retail sales growth seen in the past six years. Luxury retailers have been slower to move online than some other retailers, but the impact of online sales in this industry can already be seen.

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PYMNTS

NOVEMBER 8, 2020

Future Retail is attempting to prevent partner Amazon from meddling further in its $3.4 eCommerce giant in a New Delhi court, Reuters reported. Now, Reuters reported Amazon is lodging a complaint with India's market regulator. percent stake in Reliance Retail. But Future said that order is non-binding. On Saturday (Nov.

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PYMNTS

DECEMBER 9, 2018

With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance. That’s according to TokenEx , which recently hosted a webinar to help retailers better understand tokenization.

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PYMNTS

APRIL 12, 2017

The need for online retailers and brands to be vigilant in the face of fraud becomes more pressing by the day — but additional authentication measures can create friction on the consumer’s end, which has a nasty habit of reducing conversion rates. We return back to retailers a risk indicator — high, medium or low,” Bonin said.

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PYMNTS

SEPTEMBER 15, 2020

Such immense effort is expended fighting determined fraudsters that it’s easy to minimize friendly fraud — a frustrating state of affairs that leaves financial institutions (FIs) and merchants on the hook for purchases disowned, justly or otherwise, by legitimate cardholders. Spotting The Fakers.

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PYMNTS

JANUARY 15, 2021

The holiday shopping season is the most wonderful time of the year for the retail industry. Brick-and-mortar merchants and online retailers alike often rely on end-of-year sales to generate up to 40 percent of their annual revenues and start the new year on a positive note. A notable $730 billion in U.S. A notable $730 billion in U.S.

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Abrigo

MARCH 3, 2021

While the typologies of EIP fraud are not new, FinCEN has provided examples of trending types of EIP-related criminal activities. . Takeaway 1 FinCEN has provided examples of the trending types of EIP fraud. . Takeaway 3 FinCEN has requested specific SAR filing instructions for EIP fraud. . Red flags for EIP fraud.

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Abrigo

MAY 8, 2024

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." Many financial institutions have been using artificial intelligence (AI) for years, particularly in supporting cybersecurity and anti-fraud efforts. That’s equivalent to 9% to 15% of operating profits, the report notes.

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Abrigo

DECEMBER 10, 2019

Key Takeaways Elder financial abuse/exploitation (EFE) is under-reported although it remains on the rise. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The under-reported and growing crime. billion annually.

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PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. retailers have digital oversights that leave them vulnerable to attacks.

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PYMNTS

JANUARY 11, 2021

To that end, late last week Equifax said it had reached a deal to acquire fraud prevention and digital ID firm Kount for $640 million. As reported, the deal will enable Equifax to boost its global presence in digital ID and fraud prevention, including through the Kount Identity Trust Global Network. In a Monday (Jan.

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PYMNTS

MAY 16, 2019

Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. The news comes amid yet another online retail cyberattack, this one targeting Japan’s Fast Retailing, the company that owns the Uniqlo retail chain.

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PYMNTS

DECEMBER 23, 2019

Cybercriminals are finding it best to approach fraud with an omnichannel strategy , which involves hitting every customer service channel for best results. At the same time, however, online platforms are aiming to protect their users as fraud mounts. 89 percent: Year-over-year increase in loyalty program fraud between 2018 and 2019.

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PYMNTS

JANUARY 19, 2021

Studies showed that many consumers in the United States have begun tapping their debit cards more often for payments, for example, with one report finding that debit use rose about 6 percent year over year. Another study indicated that debit-related fraud is on the rise across the U.S. The report noted that U.S.

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FICO

APRIL 29, 2022

There’s a lot going on in the retail payments space – defined as transactions between two consumers, between consumers and businesses, or between two businesses. With any change, fraud comes hand-in-hand. All these evolutions mean a changing landscape for retail fraud and scam trends.

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PYMNTS

JULY 25, 2017

Within the retail industry specifically, artificial intelligence (AI) is moving the ball for a lot of merchants looking to not only streamline their business operations but provide a more personalized experience for consumers. In 2016, online financial fraud hit 15.4

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PYMNTS

OCTOBER 13, 2020

Merchants seeking to serve the rising wave of online shopping have their work cut out for them as they strive to fight fraud and verify consumers while also ensuring that these protective measures do not significantly disrupt the customer experience. Zulily On Fighting Fraud And Cart Abandonment With Digital ID Verification.

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PYMNTS

SEPTEMBER 10, 2019

Artificial intelligence (AI) and machine learning (ML) are starting to play a bigger role in retail, foreshadowing what’s to come in the new decade of the 2020s. According to PYMNTS research , AI and ML are blurring the divide between online and in-store shopping, and bringing an all-new human element into retail. Role of Data.

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PYMNTS

OCTOBER 9, 2020

found that 32 percent of consumers have been targeted by some type of pandemic-related fraud , for example. state employment programs to phishing scams with bad actors claiming to represent retailers — such as luxury brand Vince Camuto in one recent email scam — to good old-fashioned identity theft.

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PYMNTS

DECEMBER 16, 2019

’Tis the season for corporate fraud? the FBI recently issued a warning for holiday shoppers of a new scam called eSkimming , in which cyber criminals hack into legitimate online retailer websites to steal shoppers’ credit and debit card details. Yet, analysts warn, as cross-border B2B payment volumes rise, so does the risk of fraud.

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PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

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PYMNTS

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. A layered FDP (Fraud Detection & Prevention) solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives.

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PYMNTS

APRIL 18, 2017

Amazon’s marketplace troubles may be even broader than reported, according to some sellers. On top of the recent issues with hackers stealing account credentials of legitimate but inactive merchants and selling non-existent items, a report from Inc suggests that fraudsters are also making new accounts.

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PYMNTS

SEPTEMBER 18, 2019

The future of retail is playing out in multiple places, including the open road, while voice will help capture the connected commerce frontier. Data: 1,100: Number of business email compromise fraud scams that targeted CEOs in 2018. trillion: Estimated value of global financial losses reported in 2018. All this, Today in Data.

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PYMNTS

DECEMBER 7, 2017

Today in PYMNTS’ data, fast food chains are reporting consumer satisfaction following implementation of mobile order-ahead offerings, retail stores are closing at a near-record pace, “unthinkable” numbers of executives share their companies have experienced cyber fraud, real-time faster payments finally make their way to the U.S.

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PYMNTS

SEPTEMBER 20, 2018

ProfitStars , the Jack Henry & Associates division that provides risk management solutions for financial institutions, announced its latest fraud tool on Wednesday (Sept. According to ProfitStars, more than 2,500 community and regional banks offer online bill payment to their retail and small business clients through iPay Solutions.

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PYMNTS

APRIL 8, 2019

An Israeli startup that creates anti-fraud services that deal with online transactions wants to raise $200 million for expansion, according to a report in Bloomberg. Fraud is becoming an increasingly more common problem in the eCommerce sector, and is estimated to cost merchants about $130 billion over the next five years. “At

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