Payment fraud

Competition from global giants like Amazon and Alibaba and millions of independent retailers, coupled with the constant threat of credit card fraudsters, makes it imperative that online retailers tick all the boxes to reduce risk, writes Suresh Dakshina, CEO of Chargeback Gurus.

Companies involved in content sharing or social media are seeing fraudsters try to create new accounts for their sites with fake credentials through bot attacks.

Usernames, passwords, device authentication and even biometrics have vulnerabilities. Behavioral identity is much harder for crooks to crack, writes Robert Capps, a vice president at NuData Security.

Unless security systems are implemented thoughtfully and provide a comprehensive view of an organization’s end-to-end security position they’re little more than a distraction, writes Luis Rojas, vice president of product management for cyber fraud and risk management at Bottomline Technologies.

As the U.S. chip card migration crawls ahead, companies that have not made the switch are at a particularly high risk for fraud.

As self-checkout gains steam, so does the risk for shrink, or intentional underscanning. There are some things retailers can do to mitigate the problem, including appealing to consumers' own morality.

U.S. banks and credit unions face a tricky calculus in deciding whether to adopt expensive technology aimed at reducing online fraud.

U.S. banks face a tricky calculus in deciding whether to adopt expensive technology aimed at reducing online fraud.

The plan places a greater burden on bank managers to stop money laundering, with board members overseeing companies caught breaching the law also facing punishment if they fail to intervene.

Michael Blume oversaw the controversial effort to crack down on consumer fraud by pressuring banks to cut off certain merchants’ access to the U.S. payment system.

Copenhagen-based digital payments specialist Nets is rolling out a service in the Nordic region to screen against fraudulent transactions online, with a particular focus on “clickbait fraud” that aims to entice consumers to unknowingly authorize recurring payments in exchange for nothing.

U.K. corporations are increasingly worried about business payment fraud, and while more than half fear attacks from the outside, concerns over insider fraud have spiked, according to a new report from Bottomline Technologies.

The British machine learning technology company Featurespace is boosting its expansion strategy in the U.S. by arguing that fraud-fighting technology can improve on its own through experience.

As volume grows, fraud and security risk will expand as well. Merchants and issuers can't afford to avoid the extra work to secure the channel.

The U.K.’s Payment Systems Regulator is escalating its inquiry into the role banks play in preventing money-transfer scams where consumers are tricked into sending funds to fraudsters.

As China's only gambling center, the island has become a crime risk, pressuring greater security for card transactions.

Police in Sydney, Australia reportedly arrested two men this week suspected of using Host Card Emulation technology to make fraudulent debit card purchases amounting to AUS$1.5 million (US$1.1 million).

That was just one of the five prohibition orders issued by the National Credit Union Administration in April.

As restaurant security issues mount, it's important to have a set of sophistiated tools that can mitigate and respond to fraud, writes John Christly, global CIOS of Netsurion.

To battle the rise of new-account fraud, Dublin-based Experian has adopted a new tool from BioCatch, which uses behavioral biometric technology to spot fraudulent applicants.