Fraud

E-Commerce Retailers Face Long-Term Challenges as Payment Fraud Damages Customer Trust
September 16, 2019 at 11:49 am

Today’s consumers demand instant and excellent shopping experiences. For many retail brands, if these expectations aren't met, it can have major impacts on trust, loyalty and long-term growth. A key component for successfully keeping customers happy is providing them a secure experience while they interact with a brand’s site. However, as fraudsters become more sophisticated…

4 Ways Online Retailers Can Fight Against Counterfeit Fraud
September 5, 2019 at 12:49 pm

In the last decade, we've seen a rise in online shopping, from e-commerce powerhouses to direct-to-consumer up-and-comers. Customers are reaping the benefits from the sophistication and growth available through digital retail. Heading into 2019, e-commerce sales comprised 15 percent of total retail sales and, according to Mary Meeker’s 2019 internet trend report, e-commerce sales growth in…

Beating Online Retail Fraudsters at Their Own Game
August 5, 2019 at 12:43 pm

Fraud affecting online retailers is on the rise. According to LexisNexis® Risk Solutions’ 2018 True Cost of Fraud for the Retail Sector study, successful retail fraud attempts rose almost 30 percent between 2017 and 2018. Every $1 of fraud costs midsize to large retailers an average of $3.29. So how can retailers protect themselves with an increasing…

Loyalty Points a Gold Mine for Hackers
July 30, 2019 at 10:58 am

Credit card information was once considered the Holy Grail for hackers, with bad actors targeting retailers in an effort to glean this sensitive data and use it to fraudulently purchase goods and services. In recent years, the industry has grown more security-minded and introduced new ways to protect against the use of stolen card data…

Why Retailers Need to Rethink How They're Fighting Mobile Fraud
July 22, 2019 at 12:01 pm

The mobile revolution for retailers has climaxed, as evidenced by the fact that 72 percent of consumers make purchases via their smartphone, according to recent research from iVend Retail. As such, many retailers have smartly upped investments in digital strategy to ensure they can deliver a mobile-optimized experience to consumers. However, what many often (and…

Adjust to an Accelerated Fulfillment Schedule Without Increasing Fraud Exposure
July 19, 2019 at 11:15 am

In any product category or business model, you’re going to be forced to try and keep pace with trendsetters. With online retail, big names like Amazon.com and Walmart tend to be the ones that set customer expectations for service, price, order fulfillment and more. Take shipping, for example. Amazon recently announced it's moving to offer free…

What’s Trending in Online Fraud?
June 25, 2019 at 1:52 pm

Online fraud attacks are on the rise, and the means by which fraudsters are attempting to exploit online merchants are growing increasingly more sophisticated. Businesses across all industries need to have a better understanding of which fraud attack techniques are trending and how to adapt their fraud prevention strategies to better safeguard their bottom line…

Why Manual Review is Key to Retailers’ Defense Against Fraud, Part 2
June 20, 2019 at 10:46 am

Manual fraud review isn’t as old-fashioned as you might think. It reduces false positives and customer churn. It also helps artificial intelligence-driven fraud-screening systems get smarter. Manual review can even work for merchants like digital content providers that need to make real-time order decisions. In part one of this series, I wrote about how manual…

When Bots Attack: How the E-Commerce Industry Has Reached an Inflection Point
June 13, 2019 at 11:51 am

Last year, consumers in the U.S. alone spent more than $517 billion with online merchants, up 15 percent from 2017. In 2018, the blockbuster holiday shopping season saw more than $17.8 billion in online sales in just the five-day period beginning on Thanksgiving, with a record $6.6 billion transacted on Cyber Monday. Black Friday marked the first…