Rippleshot Blog

Anna Kragie

Recent Posts

Holiday Card Fraud Roundup — Three Guides For Issuers

Posted by Anna Kragie on 15, Dec, 17

Here at Rippleshot we’re all about the power of data. More specifically, the power of data to help issuers make more strategic decisions when it comes to analyzing risk from compromised cards, managing the spread of fraud and implementing more effective reissuance strategies.

In the final weeks of the holiday spending rush, issuers will be working diligently to analyze consumers spending behavior, track fraud patterns, determine where there are gaps in their fraud management, and decide how it all fits into their 2018 strategic planning. This includes how they’ll educate their cardholders how to better protect themselves, and what types of fraud solutions they’ll invest in to better protect their cardholders — and their own bottom line.

To help issuers wrap up the 2017 holiday season plans — and prepare for 2018 — we’ve gathered our three latest guides on the subject to help you stay updated on the latest trends in fraud management.

Read More

Data Breach Legislation: What’s Happening in Washington

Posted by Anna Kragie on 8, Dec, 17

While most attention at the moment in Washington, D.C., is on the heavily debated tax bill, there’s another proposed bill that could have major implications for businesses hit by a data breach.

A re-introduced bill, the Data Security and Breach Notification Act, proposes harsher sentences for company executives who fail to notify consumers of a breach. The initial terms of the bill calls for jail time for those who are aware of breaches, yet fail to alert consumers in a timely fashion.

"We need a strong federal law in place to hold companies truly accountable for failing to safeguard data or inform consumers when that information has been stolen by hackers," said Sen. Bill Nelson, D-FL, a sponsor of the bill, wrote in a statement. "Congress can either take action now to pass this long overdue bill or continue to kowtow to special interests who stand in the way of this commonsense proposal. When it comes to doing what's best for consumers, the choice is clear."

Read More

Holiday Card Fraud Forecast: What More Online Spend Means for CNP Fraud

Posted by Anna Kragie on 1, Dec, 17

The early data on holiday spending — coupled with early holiday fraud projections — gives some insight into what issuers might expect as the year 2017 rounds down.

To start, we’ve learned what most already knew: Consumers love to shop online. This year’s Black Friday/Cyber Monday figures confirmed that fact as consumers shelled out $5.03 billion online on Black Friday and Thanksgiving Day (a 16.8% increase from the year prior). Cyber Monday took that figure to the next level, and consumers set another record-high with $6.6 billion in sales. Overall, Cyber Monday processed 17% more purchases than Black Friday.

More online shopping inevitably means more money is being spent on credit cards, but it also means there’s a greater chance of CNP fraud as fraudsters shift their tactics toward targeting online purchases. This is in line with what industry projections show this holiday season.

Read More

ABC7 Interview: Rippleshot's Holiday Card Fraud Tips

Posted by Anna Kragie on 20, Nov, 17

The holiday shopping season is underway, which means an uptick in consumer spending. What this also means is an increase in card fraud. Whenever shoppers are spending more, fraudsters are quick to follow — which includes taking part in the holiday shopping season themselves. 

Banks and credit unions are less likely to stop authorization on purchases in order to avoid creating extra friction at checkout, and fraudsters have caught onto this habit. More than ever, consumers need to be savvier and know what red flags to look for this holiday season as they partake in the holiday shopping season. Likewise, card issuers need to be equipped with the knowledge (and tools) necessary to combat holiday card fraud. 

Read More

Topics: Fraud

10 Data-Driven Resources For Issuers

Posted by Anna Kragie on 17, Nov, 17

Let’s face it. We’re all bombarded every day with too many reports, too many articles and too many studies to keep up with. At Rippleshot, we work hard to sort through all the noise to bring you relevant news, tips, and resources you can really use to make your operation smoother by equipping your teams with tools to learn how to fight fraud faster and more effectively. Catch these 10 resources.

Read More

Topics: Fraud, Machine Learning

Why Banks Are Leveraging Machine Learning to Fight Card Fraud

Posted by Anna Kragie on 3, Nov, 17

Most financial institutions have recognized the true value of the technology effectiveness behind machine learning: The ability to discover patterns across millions of data points and hundreds of variables faster and more accurately than human beings. For predicting and stopping the use of compromised card details and the spread of card fraud, this technology is a game-changer.

The real obstacle forfinancial institutions boils down to the concept of implementing such a solution. Without in-house data scientists to create models, the IT resources to get the data from their internal systems or from their processors, and the expertise to insure that the data is clean and correct, implementing processes within an organization can seem overwhelming. But it doesn't have to be so complicated.

Read More

Payment Card Fraud Data: Stats for Issuers

Posted by Anna Kragie on 27, Oct, 17

Across the payment fraud ecosystem, there’s a lot of data about the state of card fraud, why it’s rising and how it’s changing. What’s not always easy to do is track relevant data as it enters the market. After all, data changes as quickly as the speed of fraud evolves.

To help keep issuers up to date with what stats are dominating the market, we’ve gathered data from recent studies across the market to show what threats are most prevalent, what issuers should be tracking and why they need to be detecting and stopping the spread of fraud faster than ever.

Read More

Topics: Fraud