Fraud

Imposter scams were the most common type of fraud reported to the U.S. Federal Trade Commission (FTC) in 2022. Consumers lost $660 million in the U.S. alone to business impersonation scams that year. Brand impersonators and counterfeits have always been a problem for retailers, but technology is making it easy for organized imposters to run scams…

After a long, relaxing summer, it’s time for students around the U.S. to begin preparations for a return to school. While this time of the year may not be a favorite for students, it’s certainly enjoyed by online fraudsters who look to exploit the occasion for their own gains. That’s why "back to school" fraud…

As location-spoofing, multi-accounts, fake listings, and promo abuse incidents continue to rise across all industries, utilizing fraud prevention solutions to protect companies and their customers against account takeover (ATO) and fraud has evolved from an optional safeguard to a critical necessity. The 2023 Merchant Risk Council’s Global Ecommerce Payments and Fraud Report showed that 43…

E-commerce companies lost $41 billion to online payment fraud last year. Fraudsters are developing more sophisticated approaches to making unauthorized purchases with stolen financial information. In this day and age, fraud attempts are a when, not an if. Online retailers must beef up their defenses with user verification, identification and suspicious activity monitoring. Here are…

Despite years of work by card issuers, payment processors, businesses and regulators, card-not-present (CNP) fraud continues to grow. CNP fraud increased by 8.5 percent from 2022 to 2023, and it’s projected to represent 73 percent of card fraud losses this year. The most recent version of the 3D Secure protocol, 3DS2, was intended to fight this…

The retail industry is impacted by fraud every day — and oftentimes every hour — as incidents continue to run rampant. Bad actors infiltrate both small and large businesses regularly, resulting in billions of dollars in losses for retailers each year. In fact, fraud cost Americans nearly $8.8 billion in 2022, with 2.4 million consumers…

The Inform Consumers Act, a new law that aims to curb organized retail theft and the sale of counterfeit and harmful products on online platforms, takes effect on Tuesday as more retailers blame theft as a reason for lower profits, reports CNBC. Congress passed the Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act — or the INFORM…

Consumer trust is the penultimate factor in customer loyalty. According to Deloitte Consulting researchers, customers who give a brand high trust scores are three times more likely to stick with it through a mistake. What's more, 86 percent say they’re more likely to buy from that brand again, and 62 percent will buy almost exclusively…

Website down? Bad bots may have caused it. Online shopping carts abandoned? Bots might be responsible for that, too. Bad bot activity is on the rise in the retail industry, and the impact isn’t just being felt during the holiday season and other high-traffic times. Motivated adversaries are using bots throughout the year, driving loss…

Quick-commerce (Q-commerce) isn't new, but it's gaining traction fast. Consumers want speed, efficiency and convenience, and Q-commerce promises all this with the delivery of goods within hours or even minutes. Q-commerce has exploded in Asia, and its popularity is spreading to the U.S. as well, with many grocery stores jumping on board. In fact, Q-commerce…