Mastercard Cyber & Security Summit 2022: Roundtable Round-Ups
Cyber criminals know no borders; their modes and methods are ever-evolving. This is why collaboration should be an industry priority. We have just hosted the inaugural Mastercard Cyber and Security Summit in Australia, held in both Melbourne and Sydney. We invited industry professionals across ecommerce, financial services, fintech, and digital payments to come together and […]
Strike That Balance: Fight Identity Fraud, Provide Seamless Customer Experience
Intersekt Panel 2022 Asks: What Are the Trade Offs? “The bar has been raised – and expectations are even higher,” Mastercard’s Vice President of Digital Identity, Matt Bourne When it comes to seamless, immediate customer experience, consumers have been spoiled for some time now. Streaming services, car-share rides, or pizza delivery not up to scratch? […]
Why Use Data Only Once? Breaking Down Silos to Overcome Data Scarcity
Data scarcity is one of the biggest challenges companies face when combating online fraud. This issue is compounded when each stage of the user journey is siloed into its own fraud workflow. For example, separating account opening from transaction. Additionally, if there’s a failure to include even lightweight fraud checks during account opening, the opportunity […]
Is your Fraud Team Ready for the Holiday Season?
In Conversation with Ekata and Click Frenzy at Australia’s iMedia Online Retail Summit, 2022. If anyone knows the power of preparation ahead of a busy sales season, it’s Grant Arnott, the cyber-sale pioneer behind Click Frenzy. Ekata’s James Sibbick sat down with Arnott at the iMedia Online Retail Summit. Together, they asked the room: is […]
3 Steps to Prevent Promo Abuse and Loyalty Program Fraud
Did you know that 49% of ecommerce businesses have experienced an increase in promo abuse since 2020? Meanwhile, loss from direct and indirect loyalty program fraud is increasing at an alarming rate, currently estimated at $1B each year. What is Promo Abuse and Loyalty Program Fraud? Loyalty program fraud happens when a customer is abusing […]
What is Collusion Fraud and why is it so Prevalent in Marketplace Businesses?
Collusion fraud was once a team-effort event that took place in brick-and-mortar stores; someone buys an item with a stolen credit card and a second person returns the item in exchange for a store gift card. This small-time crime has since evolved into a major online industry with one major target: ecommerce marketplace businesses. Let’s […]
Understanding the Science Inside the Ekata Identity Engine
Every time I make a purchase online, I often wonder how the retailer knows if I’m a real customer or a fraudster. Turns out that I’m not the only one as, according to Juniper Research, online merchants are predicted to lose $130 billion to online payment fraud between 2018 and 2023. Fraudsters constantly adapt their […]
Fraudsters Are Overtaking Your Verification Methods
Many websites depend on one-time password (OTP) verification to fight fraud and ensure contactability in their account sign-up workflows. More sophisticated platforms may use static metadata about phones, such as line type, to block bad actors. Fraudsters have found new ways to acquire more standard phone numbers where static information looks like a real phone […]