Category: Fraud Risk

Stop Fraudsters and Bad Actors Using Ekata

Ekata

How to Stop Bad Actors While Maintaining a Seamless UX — It’s Possible!

As we fast approach year three of the global pandemic, consumers continue to transact online, rapidly expanding the digital economy. While in-person transactions rebounded somewhat last year, U.S. ecommerce sales increased 9.4% year-over year in November 2021, according to Mastercard SpendingPulse™. This measures overall retail sales across all payment types, including cash and check. These […]

7.5.2022
Buy now pay later fraud

Ekata

Fraud in the Buy Now Pay Later Industry

Buy Now, Pay Later (BNPL) is not a new idea, but with the boom in e-commerce during the Covid-19 pandemic, BNPL has exploded onto the payments scene as a major industry. The idea is essentially a simplification of the credit process by providing ‘instant credit’ at the point of sale. This means that when the […]

6.24.2021
Online banking and fraud prevention

Ekata

When Identity Verification Becomes a Double-Edged Sword

Original author is Kurt Weiss, Director of Enterprise Sales at Ekata   The financial system’s reliance on antiquated identity verification is a double-edged sword, cutting into both new revenue streams from the underbanked while exposing financial institutions to increased attacks from synthetic identities.  The underbanked, those without sufficient access to financial institutions, represent a key […]

3.17.2021
Ekata Credit Risk and Fraud Risk Tools

Ekata

Ekata Executive Series, Part II: Trust Starts at the Source: Credit Risk Versus Fraud Risk

Welcome to Ekata’s Executive Series. In this series, our CEO, Rob Eleveld, will be outlining the dynamics we see developing in the global identity verification (IDV) market and highlight Ekata’s response to continuous market demands. Today, we are digging into the deterministic approach of credit risk and comparing it to the probabilistic approach of fraud […]

11.30.2020
Shutting Down Fraudulent Accounts Before They Start

Ekata

Shutting Down Fraudulent Accounts Before They Start

For many merchants, the biggest security focus is around credit card fraud: the moment when a bad actor pulls out a fake credit card and makes a fraudulent transaction. But in the online space, that’s only one of the ways fraudsters are taking advantage of businesses through fraudulent accounts. From bank accounts and mobile wallets […]

9.5.2018
Trust, Safety and Risk Toolkit

Ekata

A Robust Trust, Safety and Risk Toolkit for Marketplaces

Every growing marketplace goes through stages as they make the journey from startup to profitable large company. Each of those stages brings with it different requirements for risk protection. At first, a marketplace’s emphasis is on onboarding users. Marketplaces typically start by onboarding suppliers, while the demand side grows more gradually. Because they start off […]

8.10.2018
GDPR

Ekata

GDPR and Ekata

Companies operating within the European Union (EU) or outside organizations conducting any business in the EU have been scrambling to prepare for the General Data Protection Regulation (GDPR) implementation date of 25 May 2018. With GDPR, Europe is taking a firm stance on the protection of personal data rights for European citizens and within the […]

4.18.2018
Why Know Your Customer (KYC) Isn’t Fraud Prevention

Ekata

Why Know Your Customer (KYC) Isn’t Fraud Prevention

Banks and other financial institutions are all required by the PATRIOT Act to conduct a thorough review of new customers to undercut terrorist financing and combat money laundering. These Know Your Customer (KYC) checks are essential for regulatory compliance, but too many organizations rely on these as the sole method to verify the identity of […]

9.25.2017
Customer Account Opening

Ekata

Scaling Customer Account Openings in the Sharing Economy

The Sharing Economy continues to grow rapidly, with estimates that it will increase from $14 billion in 2014 to $335 billion in 2025. Underpinning this growth is a constant chicken-and-egg problem: sharing economy companies need to grow both sides of their “marketplace”. To establish a consistent framework and terminology for a closer look, let’s give […]

8.24.2017

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