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Stolen credit card testing increases 200% in 2017 exacerbating e-commerce fraud
With RBTE just around the corner, released data from Radial’s e-commerce fraud technology lab adds another alarming statistic for retailers to contend with when delivering a seamless customer experience. To date in 2017, data shows a 200% increase in credit card testing, a tactic used by fraudsters to test stolen credit card numbers with small incremental [...]
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Card fraud losses hit $21.84 billion in 2015 – up 20.6%
Card fraud losses incurred by banks and merchants on all credit, debit, and prepaid general purpose and private label payment cards issued worldwide reached $21.84 billion last year when global card volume (purchases of goods and services combined with cash advances and withdrawals) totaled $31.310 trillion. This means that for every $100 in volume, 6.97¢ [...]
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The un-virtuous circle of chargebacks
Chargebacks have been part of card scheme dispute resolution rules for decades and reflect consumer protection regulations in many countries. However they are also the ultimate un-virtuous circle where almost everyone ends up unhappy. Some of the parties also end up out of pocket. A chargeback is when a card payment is returned. This may [...]
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Card fraud losses soar in 2015 – large rises in key European markets
FICO reveals the UK saw Europe’s largest annual jump in card fraud losses for 2015. Most of the 18% rise in losses came from online transactions, reflecting the growth in this channel, the ease of accessibility to funds and lower risk for criminals, and the theft of personal data through cybercrime. The online map, based [...]
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Card fraud rises globally: one in three consumers fall victim
Card fraud rates are on the rise in many parts of the world despite the widespread adoption of fraud analytics solutions by financial institutions and retailers, along with EMV in most countries, according to a new global from ACI Worldwide and Aite Group. The report 2016 Global Consumer Card Fraud – Where Card Fraud Is Coming [...]
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