Category: Fraud Detection
Read and learn about fraud detection with the following articles and posts by Ekata, a Mastercard company.
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 […]
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 […]
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 […]
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 […]
What is chargeback fraud?
Chargebacks serve as consumer protection, allowing cardholders to dispute fraudulent or incorrect transactions and receive refunds from their bank. While chargebacks safeguard consumers, they can pose challenges for merchants. At a glance Discusses red flags, like unusual transaction patterns or suspicious email addresses. Highlights why educating customers about policies and using fraud management tools for […]
Ecommerce Fraud Detection
Four essential SaaS features you need in fraud detection software
Navigate the digital world securely. Unveil the essential SaaS features that empower businesses.
Ecommerce Fraud Prevention
Ecommerce fraud trends and statistics merchants need to know in 2024
With dramatic global growth and expansion across ecommerce, fraud continues to surge. Let’s take a look at the trends and statistics you’ll need to know. Article at a glance Global ecommerce fraud is increasing, with losses reaching $41 billion in 2022 and predicted to exceed $48 billion in 2023. Europe faces significant ecommerce fraud […]
Synthetic Identity Fraud
5 AML measures that help counter synthetic identity fraud
The world of online fraud is continually growing and becoming more sophisticated. One key type of fraud that’s becoming increasingly prevalent is synthetic identity fraud. Its complex nature combines real and fake identity elements. Rather than simply stealing an identity or creating a completely fabricated identity, synthetic identity fraud uses elements of both genuine and […]
Synthetic Identity Fraud
What is synthetic identity fraud and how does synthetic identity theft work?
5.18 billion – that’s the internet population of the world as of April 2023. Every day, billions of users access new digital services—from ordering food on their favorite app to digitally opening a bank account to purchasing a new pair of sneakers online. With over 64 percent of the world interacting online, the digital economy presents […]