By Suresh Dakshina, Co-founder, Chargeback Gurus This February, US credit card debt hit an astonishing all-time high – $986 billion. This is just three years after stimulus checks and broader pay raises had allowed Americans to save more than ever—the personal savings rate of April ...
Read more
Credit Card & Online Fraud
Credit Card & Online Fraud
By Gaurav Mittal, Executive Vice President, Ethoca The speed of commerce is exhilarating. Recent data shows overall US retail sales are up 8.8% yearly, with e-commerce specifically up 8.4%. With resilient consumer spending since the start of the year, it’s inevitable that, against this backdrop, ...
Read more
By Seth Ruden, Director, Global Advisory Americas at BioCatch Last November, several media outlets suggested that a new set of rules was under consideration for member banks participating in the Zelle network, specifically, to begin reimbursing consumers who fell victim to certain types of scams. ...
Read more
by Jeff Domansky According to TransUnion’s latest annual fraud survey, fraudsters are finding new ways to scam merchants and consumers, leading to a new growth industry. Overall fraud grew 9.4% globally from 2020 to 2021 and 52.2% from 2019 through 2021, according to the company’s ...
Read more
By Jeff Domansky The fraud landscape shifted dramatically as criminals boldly increased the hijacking of victims’ online lives with the cost of fraud jumping to $52 billion according to the 2022 Identity Fraud Study: The Virtual Battleground by Javelin Strategy & Research. Traditional identity fraud ...
Read more
Welcome to our final payments news roundup and post for this year. A new Nilson report says we can look forward to $408.5 billion in losses globally due to fraud by 2030. Community Banks are expected to create a new payments network to challenge Zelle. ...
Read more
By Jeff Domansky With Black Friday sales over and the holiday shopping season well underway, let’s take a look at how merchants and the payments industry fared. First, a sales overview from the retail industry’s National Retail Federation (NRF) and Adobe Analytics. Overall sales decreased ...
Read more
By Jeff Domansky The same day US DOJ officials held a news conference high-fiving their success in charging two international ransomware hackers, online discount stockbroker Robinhood revealed intruders breached data of millions of customers. Bloomberg reported personal data of one-third of Robinhood’s customers, about seven ...
Read more
By Jeff Domansky The biggest question in many retailers’ minds is whether fraud will take a front seat during the critical 2021 holiday shopping season that kicks off on Black Friday. In its latest quarterly crime report, financial crime management platform Feedzai said the value ...
Read more
By Jeff Domansky A 15-month research study by global payments provider Vesta shows that from 10% to as many as 13% of card-not-present (CNP), online transactions may be fraudulent. Coupled with annual e-commerce growth of 32.4% in the US and 27.6% globally, the result is ...
Read more