Author: Mastercard Identity

Mastercard Identity empowers trusted connections in the digital economy, allowing consumers to interact seamlessly and securely. Our global identity technologies, data and insights, machine learning scores, and biometrics enable organizations worldwide to verify and authenticate more genuine consumers and prevent fraud in real-time.

Ekata

Return fraud: The $100 billion problem facing retailers

Ecommerce shopping provides convenience and ease to customers in the busy modern world. One of the conveniences of online shopping is the ability to quickly return products by mailing them back to the merchant. Unfortunately, like many benefits of online shopping, merchants face challenges. One main challenge is return fraud, where a customer manipulates the […]

2.28.2024

Return fraud

Three steps banks can take to prevent banking refund fraud

Refund fraud, also known as refund scams and refund abuse, is by no means a new trend. It has, however, evolved; just as consumer behaviors and expectations in the digital marketplace have changed over the years. A type of friendly fraud, refund fraud may appear on the surface as the price that powerful corporations must […]

2.21.2024

Return fraud

Return fraud: What to look for and how to prevent it

As we have detailed in previous posts, as worldwide ecommerce sales continue to grow, ecommerce fraud increasing; with Juniper Research predicting global losses to exceed $48 billion by the end of 2023. One such type of fraud is return fraud and abuse. It’s so prolific that the National Retail Federation (NRF) estimates more than $100 […]

2.14.2024

Behavioral analytics

How to identify fraud and enhance security measures with behavioral analytics

Barely two months into 2024 security researchers have already identified what is being reported as “the mother of all breaches,” with more than 26 million records hacked worldwide from major brands and entities. Bad actors are growing increasingly more sophisticated and bold in their quest to commit cyber-attacks. The repercussions are devastating, with the cost […]

2.7.2024

Account takeover fraud

What is account takeover (ATO) fraud?

A great deal of daily life occurs online, lending itself to a vulnerability to cybercriminals. In a survey by Statista in 2022, nearly half of those surveyed had experienced a cyber-attack and 4 out of 5 board of directors surveyed believed their organization was at risk of a “material cyber-attack.” Sometimes a cyber-attack may be […]

1.31.2024

account takeover security, account security, financial services, banking

Account Takeover Fraud

Stopping account takeover fraud across the financial services sector

The digitalization of the banking industry is seeing customers engage more and more with online financial services on a global level. With 70% of financial institutions worldwide already reporting losses exceeding $500K in 2022, it’s crucial to understand how digitalization is opening the doors to new and increasingly sophisticated fraud attacks. In fact, recent research […]

1.24.2024

Fraud Prevention

5 best practices to preventing ecommerce fraud in 2024

We have detailed the evolution of ecommerce since the pandemic was first declared, an event that accelerated the adoption of online shopping by five years. Once the dust has settled and the figures are in, global ecommerce fraud loss is expected to reach $48B in 2023, with North American merchants bearing the brunt, expected to […]

1.10.2024

Address Verification Services

Top 8 features for address verification services

Address verification services (AVS) are necessary in the world of ecommerce. Address verification service providers allow ecommerce businesses to verify the legitimacy of customers by confirming the accuracy of addresses.

12.27.2023

Identity verification

Building trust online: 4 things to know about digital trusted identity services

User trust is an underrated factor in cybersecurity for online businesses. A deep understanding of user trust can make the difference between offering customers seamless online experiences and experiences in which they’re constantly treated like a threat. Essentially, all online businesses deal with two parties: trusted users and potential bad actors. Trusted users are users […]

12.20.2023