AF Education
How Blockchain Could Disrupt Online Fraud Prevention
People are always talking about how blockchain will change the world and disrupt industries. One of the industries that doesn’t get much attention in the TED talks and blog posts is e-commerce fraud prevention. The core feature of blockchain is the distributed ledger. This ledger records transactions in a database that can...
How to Avoid ICO Fraud with Cryptocurrencies
Cryptocurrency investors are participating in record numbers in initial coin offerings (ICOs) even though there are still not many uses for cryptocurrencies today within the overall retail and banking space. This article will list the different types of tokens one can purchase as well as the scams/frauds sometimes involved in an ICO....
What’s in Your Cryptocurrency Wallet? Cybercriminals Want to Know!
Big concerns exist around account takeover (ATO) at digital cryptocurrency exchanges—and no wonder. By its very nature, it is nearly impossible to trace who owns cryptocurrency funds. Digital currency wallets are also a very popular target for cyber thieves because of the irreversibility of digital currency transactions, making wallet security a top...
First Fraud Data Exchange for Auto Industry Launches
PointPredictive formally launched today, May 30, a fraud data exchange for auto lenders at the Auto Lending Fraud Consortium Roundtable in Fort Worth, Texas. Auto lenders will be able to use the Fraud Data Exchange as a repository for sharing data from confirmed fraudulent auto-loan applications. The service is designed to detect...
What Does Machine Learning Mean for Fraud Prevention?
Everyone in fraud prevention must have heard the term machine learning bandied about in discussions about the changing nature of their work. However, the recent hype suggests that some of the people promoting machine learning solutions are either overstating or misrepresenting what the technology is currently doing and what it is capable...
What VCR Really Means for Merchants
Visa Claims Resolution (VCR) is the biggest dispute policy update the payments industry has experienced in decades. Every stakeholder has been impacted, with requirements changing for cardholders, issuers, acquirers, and merchants. An unintended challenge of VCR is ensuring each stakeholder has the information and insight they need to comply with--and benefit from--the...
What GDPR Means for Fraud Prevention
The General Data Protection Regulation (GDPR) is a piece of EU legislation which directly impacts all organizations or people which process the personal information of individuals. Organizations that do not understand their fraud operations completely will end up with flawed or incomplete compliance with GDPR. There will be organizations found lacking and...
Merchant Fraud Losses Rise 7% in 2017
Merchants’ total fraud losses rose 7% year on year in 2017 to 4.09% of total orders received, according to the Ecommerce Fraud Index figures released this week by fraud solution vendor Signifyd. Hardest hit were cosmetics and perfume retailers as their fraud rate doubled in 2017 to 5.1% of total orders received....
3 Machine Learning Solutions Launch for Finance, Auto Loans & Groceries
Three separate machine learning fraud solutions targeting credit card issuers, auto loans and online groceries were released last week by Fiserv, PointPredictive and Ocado Technology, respectively. Fiserv teams up with Mastercard Financial services technology provider Fiserv made the biggest buzz when it announced that it had begun offering Mastercard’s Decision Intelligence fraud detection...
Stop Falling for Dating Scams this Valentine's Day
Valentine's Day is the holiday of love for couples. For most singles, it is an annual reminder of the need to find a significant other. That is why the holiday is an ideal time to discuss dating site scams that seek to entrap and extract money in a variety of ways from...