News
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....
American Express Invests in 2 Israeli Anti-Fraud Startups
American Express Ventures announced strategic investments in two U.S.-Israeli anti-fraud startups this week. BioCatch, a behavioral biometrics startup, closed a $30 million round of growth funding that was led by Maverick Ventures. Other round investors included not only American Express Ventures but also NexStar Partners, Kreos Capital and OurCrowd, among others. The...
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...
Signifyd, ACI Worldwide launch partner solutions for Magento, airlines
Fraud prevention vendor Signifyd announced this week a strategic partnership with Corra, a digital agency serving primarily fashion, beauty and lifestyle brands retailers on the Magento Commerce platform. The partnership is expected to help Signifyd expand its growing list of merchant clients on Magento, particularly among high-end retailers likely to see significant...
SEON Raises $600K in New Funding
Hungary-based fraud prevention startup SEON announced on Thursday that it had closed a €500,000 ($624,000) funding round with investment from PortfoLion and Fiedler Capital. The company said that intends to use the new funds to expand into new geographical markets and industries. SEON officially launched its out-of-the-box fraud solution in 2017 and...
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...
Merchant Risk Council: Industry Events & Education
Established in 2000 the Merchant Risk Council is the leading global trade association for eCommerce fraud and payments professionals. About-Fraud.com caught up with Markus Bergthaler, Director of Programs, to find out how the MRC is helping educate and empower industry professionals. In this brief Q&A, Markus sheds some light on the various...
How To Transform Authentication & Trust
Webinar Connections allows our community to seamlessly connect with educational webinars hosted by Fraud Solution Providers. It's another step in helping our users understand what fraud solutions are the best fit for their fraud problems. In our first installment, we feature a thought leadership webinar hosted by NuData Security, "How to Transform...