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.
In an era where credit card scams are running rampant, consumers must be more in tune with the risks that exist today. Are your cardholders equipped with knowledge of how to protect themselves from fraud?
Download our quick-and-easy guide, 5 Common Consumer Credit Card Scams (+ 10 Tips for Protecting Yourself From Card Fraud), to help you educate your cardholders about scams to avoid — and how to be savvier consumers.
Learn how to stay ahead of card fraud, what's contributing to the rising fraud rates and how you can equip your organization and team members with the tools to combat the spread of card fraud.
Download our quick-and-easy guide, Fighting Holiday Card Fraud: 10 Tips for Issuers, to help you proactively fight fraud this holiday season and beyond.
The monetization of compromised cards has become a sophisticated industry. As a result, payment credentials are getting increasingly tangled in this fast-growing problem as more vulnerabilities are exposed across the ecosystem (as new technologies enter the market).
Explore the rapidly-changing card fraud ecosystem and read how to stay ahead of the trends in this report, State of Card Fraud: 2017. Get industry-wide updates, including EMV statistics, evolving threats, emerging fraud trends and how banks and credit unions can benefit from integrating machine learning technology to enhance their card fraud management.
Last year’s holiday season saw a 31% increase in card fraud attempts, and the problem is only getting worse. Is your fraud team ready to combat this rapidly-growing issue? Banks' card operations today are under attack from a myriad of fraud schemes, including CNP, fallback transactions, friendly fraud, ATM skimming, and synthetic fraud, just to name a few.
This presentation from Rippleshot Co-Founder and Solutions Specialist Canh Tran — The State of Card Fraud 2017: Preparing for the Holidays — prepares issuers for the holiday fraud rush.
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.
Card skimming losses rose 70% between 2015 and 2016. That’s on top of the 546% increase seen in 2015. This rapidly-growing problem, Cox noted, is only getting worse. The difficulty with all types of fraud is the speed at which it evolves. ATM fraud, in particular, is evolving at a rapid pace.
Banks are using new tools to fight fraud, but fraudsters are moving faster. Banks typically have less than 48 hours after an ATM compromise before money is out the door. Banks need to quickly identify compromised ATMs and cards to get a handle on the scope of the problem — a process that can take weeks. Weeks isn't good enough when a problem needs to be solved in less than two days. Find out how fraudsters are ripping off your ATMs faster than ever before.
“Technology begets technology.” That’s one of the key takeaways from the 2017 Tech Trend Report from Future Today Institute. As newer technologies emerge into the marketplace, it creates space for more innovation (AKA: more technological advancements).
As the report highlights, there is a seismic shift in how automated technology solutions are changing the face of virtually every industry — payments and financial services included. With concepts like artificial intelligence (AI), machine learning, bots, Internet of Things (IoT) and big data carving a path for the next wave of innovation, the year 2017 and beyond is ripe for the adoption of new fraud fighting technologies. Catch the top trends.
8. Machine Learning 101: The Future of Fraud Protection for Banks and Credit Unions
FinTech advancements have transformed the banking industry in the past decade faster than ever before. Paving that path has been the ability of banks and credit unions to tackle one of their biggest problems (fraud) through one key trend: Machine learning.
What's made that all possible? Software and options to integrate smarter, better fraud detection tools. While most of the chatter around how artificial intelligence (AI) will impact how banks and credit unions interact with their customers (i.e. chatbots) in the near future, there’s a lot more powerful ways organizations can leverage machine learning to actually impact their bottom line. Catch why machine learning is the future of fraud detection.
Data breaches are expensive for banks, merchants, and consumers, but just how costly are they? A new report from Ponemon Institute breaks down today’s security landscape in its new ‘Cost of Data Breach Study’. We pulled out some of the highlights and interesting facts below.
Let’s start with the good news…The study shows the global average cost of a data breach is $3.62 million – down 10% compared to previous years. The not so good news? The average size of the data breach, according to this research, increased 1.8%. Catch the rest of the data here.
Finally, for those looking for the latest news on data breaches, bank card fraud and the payments industry, check out our weekly newsletter: Data Breach Ripples. Sign up here to get your weekly dose of all that’s happening in the world of card fraud and data breaches.