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Fraud fears rise as cashless society becomes reality
Despite well-reported reductions in the use of cash across the country, new research from international legal practice, Osborne Clarke, reveals that UK consumers are now more concerned than they were a year ago about incidents of fraud and security breaches should mobile payments completely replace cash in the future. UK consumers have been open to [...]
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The complete guide to stopping e-commerce fraud
E-commerce fraud is on the rise. While digitalisation has streamlined processes, consolidated data and vastly improved the efficiency of administration, it’s as much a blessing as a curse. When it comes to fraud, digitalisation has presented fraudsters with a massive opportunity – at the expense of e-commerce retailers. Online businesses are an obvious target for [...]
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New position available: Money Mule
One third (32%) of Britons would apply for a job as a money mule, helping criminals to launder money. That’s the finding of an experiment carried out by Santander to shed light on just how convincing the ‘bogus job ad’ is: a technique which criminals use to lure people looking for work into transferring money [...]
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Contactless card fraud is on the rise – UK rate hits 4,500%
So, contactless card fraud hit £7m in the UK in 2016, up from £153k in 2014. Cue click-bait headlines about fraud soaring by almost 4,500%. When you dig a bit deeper, this is both mischievous scaremongering and quite misleading. contactless card, card fraud, contactless fraud, fraud Salacious spending spree Firstly, the article explains how contactless card theft allows [...]
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E-commerce fraud has decreased nearly 35% since 2016
E-commerce fraud as a percent of sales dollars has been declining across the board, except for two industries, since the first quarter of 2016. However, fraud losses still account for billions of dollars, and perhaps even more due to transactions declined incorrectly due to fear of fraud. Signifyd have tracked, analysed and reported on this [...]
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