Category: Fraud Risk

Read and learn about how to identify and reduce fraud risk with the following articles and posts by Ekata, a Mastercard company.

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

AML Risk Assessment

From risk to compliance: the five steps to performing an AML risk assessment

In our ever-evolving digital world, technology has changed the way that we make payments, as well as our ability to send money at any time, anywhere in the world. It has also made it easier for fraudsters to conceal the origins of illegally obtained funds, making them appear to come from a legitimate source. Indeed, […]

9.6.2023

Identity Verification

When identity verification becomes a double-edged sword

Why digitalizing financial services is key to preventing synthetic identity fraud, attracting the next generation of consumers and staying in business.

8.28.2023

Telecom Fraud

Call off telecom fraud threats this holiday season – and beyond

According to the recent Communications Fraud Control Association Report, in 2021 $39.9 billion in revenue was lost to telecommunications fraud. In the United States alone, 74 million telco customers already had their data leaked to the dark web before the end of the first quarter of this year. Unfortunately, these threats are not subsiding any time […]

8.9.2023

Synthetic Identity Fraud

The ultimate guide to detecting and preventing synthetic identity theft

What is synthetic identity theft? Synthetic identity theft is an insidious type of financial fraud that involves stealing a real person’s information, such as their government identity card or their date of birth and combining it with falsified personal information to create a new “synthetic” identity. The most common victims are children, the homeless and […]

8.3.2023

Identity Verification

Why you can’t rely on CPF checks for digital identity verification in Brazil

As the global economy’s transformation accelerates those that do not keep pace with this digitization will leave themselves vulnerable to fraudsters who are getting more sophisticated and taking advantage of those who are falling behind. Ironically, despite being recognized as the second most advanced country in the world by the World Bank in terms of […]

8.2.2023

Address Verification Service

Why an address verification service is for payment providers and banks

As we have outlined in previous blogs, both address verification service (AVS) and address validation service are vital to any business that serves customers online, regardless of industry. Indeed, risky addresses cause havoc due to the high costs of fraud, order reprocessing, customer service hours, customer loyalty and more. For banks, payment processors and other […]

7.19.2023

Address Verification Service

What is AVS & AVS mismatch? How address verification keeps your transactions secure

Address Verification Service (AVS) is the process of verifying the accuracy and validity of a physical mailing address. Individuals or businesses provide these physical addresses to e-commerce companies or banks. Companies and organizations that use AVS ensure that the addresses provided by their customer or clients are valid and match the information on file. AVS […]

7.12.2023

global address verification and validation

Address Verification Solution

Address validation solutions: How Address Risk API stands out

One of the big advantages of a digital economy is the ability to connect and transact around the world, regardless of physical location. Of course, this advantage brings with it some challenges for fraud prevention teams; namely, bad actors can now attack from across the globe. The ability to assess address risk through address verification […]

7.5.2023