For many cardholders, canceling their card and getting a new card is the standard course of action after being victims of fraud. The assumption is that when they get a new card, the fraud problem will be sorted out because the fraudsters will not have access to the new card details. That was not the case for Grant Larimer, who continued to get fraudulent Planet Fitness charges on his card even after getting a new card three times. How is this possible? How did the fraudsters keep getting access to Larimer's new credit card numbers? The answer is account updating. This article will explain wh ..read more

Preventing true fraud is a vital part of doing business. True fraud is when a fraudster gets a hold of credit card credentials and successfully uses them at a merchant's site or store. True fraud for merchants is a pain, not only because it results in a dispute, harms customer relationships, and possibly causes loss of goods or services. It is a pain to merchants because it leaves merchants with an unwinnable dispute, which means merchants can not regain the transaction amount lost. For undeniable reasons, you want to prevent true fraud from ever happening. This is where front-end fraud tech ..read more

Internet of Things (IoT) devices are all around us. Devices ranging from smart speakers, cars, refrigerators, light bulbs, printers, and more, can connect to each other and the internet to make our lives easier. IoT devices are quickly emerging as a new avenue for shopping and payments. By simply speaking a few sentences to a smart speaker, consumers can purchase an array of items and subscriptions. As a consumer, purchasing through an IoT device creates a crazy-easy check out experience. But for merchants, it may not be as simple to execute IoT sales correctly and safely. While merchants ca ..read more

The behavior of cardholders during the COVID-19 crisis is setting up merchants to receive an increased number of disputes in the coming weeks and months. The combination of ecommerce purchases, high purchase volumes as cardholders expect more weeks of quarantine, and the possible cut back in spending due to job loss or economic fear creates the perfect situation for fraud to emerge. These guidelines will help make sure your company retains your hard-earned revenue by preventing and responding to disputes. Preventing True Fraud The current climate creates a perfect place for fraudsters to tak ..read more

The behavior of cardholders during the COVID-19 crisis is setting up merchants to receive an increased number of disputes in the coming weeks and months. The combination of ecommerce purchases, high purchase volumes as cardholders expect more weeks of quarantine, and the possible cut back in spending due to job loss or economic fear creates the perfect situation for fraud to emerge. These guidelines will help make sure your company retains your hard-earned revenue by preventing and responding to disputes.  Preventing True Fraud The current climate creates a perfect place for fraudsters ..read more

Manual reviews are a human-centered practice of checking flagged business transactions to determine whether or not they are fraudulent. Regardless of the rise of new technologies, the position of human expertise in the manual review of orders for possible fraud can not be replaced. Preventing online fraud and chargebacks is a persistent challenge for online merchants. With card-not-present (CNP) fraud costs rising exponentially, online merchants have it rough. The good news, however, is that fraud-detection technologies are evolving fast to catch up with ecommerce growth ..read more

How can you stop fraudsters from making fraudulent purchases in your store? Fraud filters provide a solution. Imagine you could automatically stop fraudulent orders from processing in your store. Think about much money you would save. Think about the time saved. Fraud filters may sound like something from the distant future, but they are a real thing right now. You can add this tool to your ecommerce store and prevent fraudsters from making fraudulent purchases. It's simple: Fraud filters will notify you of a potentially fraudulent purchase or cancel a fraudulent order a ..read more

A fraud platform performs a risk analysis on an incoming transaction and gives a fraud score. The rating is based on predictive technology that can identify patterns of fraudulent activity. Dispute management has two sides. Merchants need to prevent disputes from happening and responding to invalid disputes when they do happen. In this post, we will focus on stopping chargebacks, specifically using fraud scoring as front-end fraud protection. Preventing True Fraud Front-end fraud protection is put in place to prevent true fraud disputes from happening. True fraud is whe ..read more

Visa recently announced that starting April of 2020, "the Visa Rules will be updated to ensure issuers, acquirers and their sponsored merchants control first-party fraud. First-party fraud is a concern for all parties in the payment ecosystem. This occurs when a cardholder seeks reimbursement or a credit for legitimately purchased goods and services, resulting in potential disputes and creating additional costs for all participants." So, what is first-party fraud? Here is what merchants need to know. First-Party Fraud First-party fraud can be split into two categories ..read more

About the Author Molly Crockett is a tech security blogger for BoomEssays and UKWritings. Molly’s writing focuses on how businesses can help protect themselves against the threats at large. She is always seeking ways to help develop writing and research skills in young people, and she teaches for EssayRoo, an online writing service. Organized retail crime is a relatively basic sort of theft at the root and a far cry from the complexity of computer hacking and cybersecurity breaching. And yet, two-thirds of merchants surveyed by NRF have reported a growth in organize ..read more