$24 Billion in False Positives Last Holiday Season While More Consumers Admitted to Return Fraud
False positives, return fraud and consumer abuse are all on the rise.
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Justin McDonald
- May 15
- 2 min
Former MasterCard CEO Ajay Banga Elected President of the World Bank
Ajay Banga, who served as MasterCard CEO from 2010 to 2020, was elected as the 14th president of World Bank in early May, following...
Justin McDonald
- Jan 19
- 1 min
Nearly 60 Million Payment Cards Sold on the Dark Web in 2022 and 70 Percent were Issued in the US
59.4 million payment cards were compromised and posted for sale on the dark web in 2022 with 77 percent of these card compromised in the...
Justin McDonald
- Nov 15, 2022
- 1 min
Merchants Expected to Lose $41 Billion to eCommerce Fraud Globally in 2022
The total cost of eCommerce fraud to merchants is expected to reach $41 billion in 2022 then increase by 17 percent to reach $48 billion...
Justin McDonald
- Nov 4, 2022
- 1 min
US Online Holiday Sales Expected to Return to Single Digit Growth in 2022
Digital Commerce 360 has been tracking US online holiday sales growth since 2015 with year-over-year percentage growth in the...
Justin McDonald
- Sep 7, 2022
- 2 min
800+ Data Breaches and Over 53 Million Consumers Compromised in the First Half of 2022
After the first half of 2022, the number of data breaches for the year is on pace to fall below the all-time high set in 2021, but still...
Justin McDonald
- Jul 27, 2022
- 1 min
New White Paper: Detecting Fraud and Abuse at Account Opening
The latest free white paper from The Fraud Practice discusses the different types of attacks and fraud that organizations face at the...
Justin McDonald
- Jul 20, 2022
- 1 min
The Average Cost of a Data Breach has Doubled Since 2018
The average cost of a data breach including consumer identity information in the United States reached $9.5 million in 2021, up 16...
Justin McDonald
- May 24, 2022
- 1 min
Digital Wallet Transactions to Reach $7.5 Trillion in 2022, Fraudsters Likely to Follow the Money
A recent study from Juniper Research forecasts substantial growth in payments made from digital wallets with increasing acceptance at...
Fraud Practice
- Nov 5, 2021
- 2 min
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...
Fraud Practice
- Nov 5, 2021
- 2 min
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...
Fraud Practice
- Nov 5, 2021
- 2 min
Processors Prepare for Increasing Merchant Chargeback Losses and Look to Increase Reserves
A FinTech lawyer reported that as many as one-fifth of his merchant clients have been contacted by their payment processors about the...
Fraud Practice
- Nov 5, 2021
- 2 min
Custom Modeling for Risk Management Requires Human Element, Not Just AI
While there is value in leveraging Artificial Intelligence for modeling and analytics to detect cyber threats and fraud, security...
Fraud Practice
- Nov 5, 2021
- 3 min
Nearly Nine-in-Ten Organizations Experienced Spear Phishing Attacks; Over Half Fell Victim in 2019
According to a survey of over 600 IT security professionals across seven countries, 88 percent of organizations saw spear phishing...
Fraud Practice
- Nov 5, 2021
- 3 min
Visa to Increase Interchange Fees for CNP Transactions this April
After leaving interchange rates mostly unchanged for the past decade, Visa sent a letter to partner banks outlining the coming changes to...
Fraud Practice
- Nov 5, 2021
- 1 min
Cyber Weekend Fraud Declines See 30% Increase Year-Over-Year and 50% Increase Relative Rest of Year
The number of order attempts declined for suspected fraud increased by nearly 30 percent year-over-year for orders between Thanksgiving...
Fraud Practice
- Nov 5, 2021
- 2 min