Category: Fraud

Read and learn about fraud and how to prevent it with the following articles and posts by Ekata, a Mastercard company.

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

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

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

Fraud prevention

Using data to optimise fraud prevention and customer experience across the payments ecosystem.

As advanced technologies digitally transform the financial services industry, they also accelerate fraud activity and open the door to new, sophisticated fraud attacks. To navigate this ever-evolving fraud landscape, financial institutions need to know how to balance fraud mitigation technology with seamless digital customer experiences. This blog post is inspired by recent panel discussions held […]

12.13.2023

Fraud prevention

Credit card fraud detection: How advanced technology enables more secure transactions

Credit card fraud is a growing problem for both financial institutions and retailers. Fraudsters have grown increasingly adept at obtaining users’ credit card credentials and using them to take over financial accounts, make fraudulent purchases, and initiate chargeback fraud. Article at a glance: Credit card fraud is a significant problem for both financial institutions and retailers, […]

11.29.2023

Guest Post | Vesta

The ultimate guide to chargeback prevention

Our partner Vesta discusses the key distinctions between chargeback and friendly fraud and how to protect your business from both.

11.22.2023

Fraud Prevention

Balancing ecommerce fraud prevention and customer experience across the customer lifecycle in EMEA.

With ecommerce sales across Europe expected to surpass £885 billion come 2027, fraud teams across the continent are on high alert; with increased sales comes increased fraud. Indeed, global e-commerce fraud is growing, with two out of every three online retailers in Germany and over 85% of online merchants in Switzerland reporting a surge in […]

11.20.2023