Fraud

Over the last few years, there has been great momentum in the discussion about the current and potential impact of generative artificial intelligence (AI). Much like streaming providers during the pandemic or shovel salesmen during the gold rush, companies that supply the power behind AI applications have seen their valuations skyrocket. However, in the finance…

In the retail and e-commerce landscape, the surge of synthetic shoppers poses a challenge for retailers. In fact, 50 percent of businesses have reported growth in synthetic identity fraud (SIF), according to AuthenticID’s 2024 State of Identity Fraud Report. SIF — when individuals use stolen personal information, such as Social Security numbers, to create fake…

Home Depot has confirmed that it suffered a data breach after one of its Software-as-a-Service (SaaS) vendors mistakenly exposed a small sample of limited employee data, which could potentially be used in targeted phishing attacks, reports Bleeping Computer. Last Thursday, a threat actor known as IntelBroker leaked limited data for approximately 10,000 Home Depot employees…

Credential stuffing attacks are a costly headache, with the Ponemon Institute finding that businesses lose an average of $6 million per year due to lost customers, increased IT costs, and other fallouts. The pervasive problem of password reuse fuels credential stuffing, and we can only expect these attacks to increase as more credentials are exposed…

In mid-January, I had the pleasure of attending the NRF “Big Show” Conference in New York City. As always, it was great to meet new people, reconnect with prior colleagues, and finally meet some people in person — we have been on video calls way too often in the past three years! As expected, retailers…

In an age where everyday goods cost more than ever, is our appetite for the finer things subsiding? According to Bank of America card data, credit card spending for luxury fashion is down 16 percent year-over-year, the product of a six-quarter-long decline. In October, one of the world’s top luxury retailers saw its stock drop…

After several years of altered consumer behavior and often-conflicting news about the economy throughout 2023, retailers have sometimes found it challenging to understand what’s normal customer behavior now. Regardless of the trends and pre-holiday forecasts, assessing how your store actually performed is the key to preparing for a stronger holiday season performance in 2024 —…

Defined by rising prices and growing inflation, the last two years have been full of financial challenges for consumers. While all age groups have felt the pain, Gen Zers have faced particularly difficult headwinds. Research indicates that three-quarters of this generation — those born between 1996 and 2012 — have had to adopt new spending…

VF Corp., the parent company of popular apparel brands Vans, Supreme, and The North Face, said last week that hackers stole the personal data of 35.5 million customers in a December cyberattack, reports TechCrunch. The filing to regulators didn't say specifically what kinds of personal data was taken, or if the company yet knows what…

A whopping 69 percent of retailers treat returns as a cost of doing business, meaning they simply accept that they will incur $165 million in merchandise returns for every $1 billion in sales. This problem is further exacerbated during the holiday season when 17.9 percent of merchandise sold is returned. But what if one shift could…