Fraud

Will Online Fraud Dim the Luxury Retail Industry’s Outlook?
October 20, 2022 at 12:24 pm

Fraud attempts are challenging for all retailers, but especially so for luxury merchants which operate in a highly competitive market with unique challenges. Brands such as Balenciaga, Burberry, Hermès, Gucci, and Louis Vuitton rely on exclusivity and a delicate balance of supply and demand to drive business and customer loyalty. But this high-end merchandise, which…

Fraud Prevention: Online Retailers’ Secret Weapon for Combating Economic Headwinds
October 11, 2022 at 12:23 pm

Following several years of exponential growth, e-commerce is bracing for lean times ahead. Online retailers are contending with economic headwinds fueled by a global conflict, a drawn-out pandemic, and rising inflation. A June 2022 survey reveals that 83 percent of Americans are cutting back on personal spending due to increased inflation. Online payment fraud is also…

The Online Retailer’s Holiday Fraud Prevention and CX Checklist
September 21, 2022 at 10:02 am

Online consumer behavior and expectations have evolved rapidly since the start of the pandemic, and they’re going into the holiday shopping season with higher expectations than ever for great experiences. Now that two-thirds of consumers say they’re “likely to switch companies for a better digital experience,” getting customer experience (CX) right is critical to maintaining…

6 Ways Brands Can Avoid Gift Card Fraud
September 15, 2022 at 7:50 pm

Many brands launch gift card programs for all the right reasons: incremental sales, new customer acquisition, brand recognition, build customer loyalty, and more. Plus, consumers thrive on promotions, with 80 percent saying they plan to purchase more gift cards in 2022. However, gift card programs do come with risks. Unfortunately, gift cards are an appealing target…

How to Think About Your Fraud Strategy and Avoid the Gambling Grifters
September 8, 2022 at 4:19 pm

For many years I played blackjack professionally. In that time, countless amateur players would provide advice on how to play, attributing their expertise to a "system" they developed. I respected the ones who were at the table employing their system (even though they always ended up going broke). The true grifters were the ones who'…

Bot Armies Are Targeting Loyalty Points; Here’s How to Safeguard Your Customers
September 5, 2022 at 8:05 pm

As back-to-school season kicks into high gear and holiday-driven spending looms in the distance, retailers across the country are using loyalty point programs to build relationships with customers and incentivize them to return for future purchases, driven by the promise of discounts, perks, exclusive benefits and more. However, over the last year, and especially during…

The Seasonal Shopping Surge: Maximizing Cyber Monday ROI by Stopping Ad Fraud
September 1, 2022 at 1:57 pm

Each holiday shopping period presents massive opportunities for advertisers. Many online retailers are preparing their media campaigns to take advantage of the expected surges in traffic, both in-store and online. With the global economy, and consumer behavior, impacted by COVID-19, successful shopping seasons are more important than ever. Retailers are targeting an increasingly digitally savvy…

The Role of Fraud Prevention in a Recession
July 25, 2022 at 5:06 pm

Retail e-commerce sales surpassed $4.9 trillion worldwide last year and are predicted to exceed $5.5 trillion by the end of 2022. However, to eight out of 10 small to midsize business (SMB) owners, those numbers aren't striking joy as worries over a looming recession mount. Over half of Wall Street's investment and economic professionals seem to…

‘Policy Abuse?’ It’s Just Fraud by a Different Name
July 19, 2022 at 6:30 pm

If there’s a way to make a few bucks on the side, pull a fast one, or game the system, you know there’s always someone prepared to try their luck. Even when retailers offer generous money-off promos or discounts, there’s always someone who wants more. So called "policy abuse" — i.e., when a retailer’s refund…