90% of online retailers losing money to policy abuse
Policy abuse–behaviours such as excessive returns, refund scams such as claiming an item was not received or returning empty boxes, abusing promotions like coupon codes or loyalty program rewards, or reselling limited-inventory items is soaring, with 90% of online merchants believing the issue is a significant problem for their bottom lines. That’s according to Riskified’s […]
These are the most in-demand merchant fraud solutions for 2023/24
Fraud Detection Tools, Anti-Fraud Software and Chargeback Protection are topping the list of technologies the UK’s anti merchant fraud professionals are sourcing for 2023/24, according to our exclusive research. The findings have been revealed in the run up to the Merchant Fraud Summit, which takes place on November 1st in London and are based on […]
Harnessing artificial intelligence to combat merchant fraud in retail
The retail sector has been both blessed and cursed for the fast pace of e-commerce growth and arrival of alternative payments. The boon of online shopping and digitisation has expanded horizons for retailers, but with it comes the bane of increased fraud. Fortunately, Artificial Intelligence (AI) emerges as a stalwart ally in detecting and thwarting […]
Do you specialise in Mobile Fraud Prevention or AI for Fraud Prevention Solutions? We want to hear from you!
Each month on Merchant Fraud Briefing we’re shining the spotlight on a different part of the market – and in October we’ll be focussing on Mobile Fraud Prevention & AI for Fraud Prevention. It’s all part of our ‘Recommended’ editorial feature, designed to help industry buyers find the best products and services available today. So, if you specialise […]
Visa highlights AI threat in latest data
Visa’s latest Biannual Threats Report highlights a ‘significant’ rise of phishing schemes proliferated through generative AI tools, and a marked increase in enumeration and ransomware. While the global fraud rate trended lower than normal expected fraud levels during the report’s time period (January – June 2023), Visa shared that it helped to proactively block $30 […]
Evolving payment methods to push remote physical goods fraud up by 400%
A study from Juniper Research predicts that the greatest merchant losses to fraud will be via remote physical goods purchases, with losses reaching $5.1 billion across emerging markets in 2028, up from $1 billion in 2023. Juniper anticipates fraud losses in Africa & Middle East to reach $1.1 billion in 2028; growing 643% from $150 million […]
Understanding the Payment Card Industry Data Security Standard (PCI DSS) and how it works
In today’s digital age, the seamless and secure processing of payments is paramount for retail businesses. As such, understanding and adhering to the Payment Card Industry Data Security Standard (PCI DSS) is not just a requirement – it’s essential for maintaining customer trust. Here are the vital considerations for retailers navigating PCI DSS compliance, based […]
Fines relating to mismanagement of data subject rights could hit $1bn
By 2026, fines due to mismanagement of subject rights will have increased tenfold from 2022, to total over $1 billion, according to Gartner. The analyst defines subject rights requests (SRRs) as a set of legal rights that enable individuals to make demands and, in some instances, changes for clarity regarding the uses of their data. […]
Your agenda at the upcoming Merchant Fraud Summit
The Merchant Fraud Summit takes place over a day & consists of 1-2-1 meetings with innovative suppliers to help with your upcoming plans, insightful seminar sessions and numerous opportunities to network with peers. Click here to confirm your attendance (booking form takes less than two minutes to complete). AGENDA: 1st November 08:00 – 08:45: Registration […]
Bribery and corruption concerns drive 650% increase for Regtech AI KYC checks in banking sector
A new study from Juniper Research has found that the total number of Know Your Customer (KYC) checks for banking, conducted using AI, will reach almost 175 million globally by 2028; up from just over 23 million in 2023. The demand for regtech solutions is increasing across not only financial services, but also industries such as […]
