Credit card fraud is the unauthorized use of a credit card or card information to make purchases or withdraw funds. Fraudsters aim to steal money from the cardholder or the issuing bank. It results in financial loss for individuals and institutions, damaged credit scores and a breach of personal information. […]
Human + AI Collaborative: Efforts in Fraud Detection
Fraud is a growing concern in our digital age and it threatens both individuals as well as businesses. As the number of online transactions increases, so does fraud. AI Collaborative brings together experts from various fields to create innovative AI-driven solutions for complex challenges. Businesses have turned to a combination […]
Choosing the Right Fraud Prevention Solution for Your Ecommerce Store
E-commerce fraud is on the rise, posing a growing threat to businesses. Based on Global Fraud Report 2023, 43% of merchants are experiencing phishing, pharming or whaling whereas 34% of merchants are suffering from friendly or chargeback fraud and then followed by 33% of them are experiencing card testing and […]
Understand about Affiliate fraud and impact on your business
Affiliate fraud is a type of fraud where the fraudsters try to cheat a company for the partnership commission. They will try to manufacture artificial traffic that goes through the company’s website. However, the fake traffic is not contributing any revenue to the company. As a result, the fraudsters will […]
What is credit card BIN attack and how to prevent it
What is BIN number and BIN attack? A BIN number, or Bank Identification Number, is an initial combination of six to eight digits that is located at the beginning of the card number. This number usually identifies the bank issuer of the card. The number also helps to tell information […]
Growing a business: From brick-and-mortar to e-commerce
It’s easy to get a small business up and running by renting a kiosk or small shop in a mall. There have even been big businesses today that actually started in home garages. As the revenue grows, the companies can upgrade to bigger and bigger offices to accommodate more employees […]
What is fraud triangle
In the 1970s, criminologist Donald R. Cressey published a model called the “fraud triangle”. This model focuses on his research of people who were caught embezzling. There are three elements that made up his model; opportunity, pressure, and rationalization. Using this model, we are able to gain an understanding of […]
The importance of an evolving fraud prevention system
Online stores have always encountered fraud cases when it comes to e-commerce transactions. The only difference is that with the pandemic, more and more people started buying things online. As a result, fraud cases have risen significantly as well. Smaller merchants may find themselves struggling to vet all online order […]
Why repeat customers are important
In today’s competitive business landscape, customer retention has emerged as a strategic approach of sustained success. Customer retention encompasses both repeat purchases and repeat customers, but it goes beyond just these two concepts. Repeat purchases and customers are closely related concepts that are integral to understanding customer behavior and business […]
What is return fraud and how to minimize the impact
It is a fraud when a customer is trying to cheat the seller via the product return process. Fraudsters will abuse the return policy when committing return fraud. Return fraud is particularly common in countries like the United States, where the return policies of most merchants are relatively flexible and […]