Card Fraud Intel: 5 Resources For Financial Institution Leaders

Posted by Anna Kragie on Sep 6, 2019 3:29:07 PM

Staying up-to-date with the latest insight into payment fraud trends should top the priority list for any financial institution leader — but there aren't always enough hours in the day to keep up. That's one of the reasons Rippleshot exists. We're here to be your trusted advisor on what we're hearing in the marketplace about fraud trends, fraud benchmark data and what financial institutions should be doing about it all. 

To help keep your team educated about some of the latest trends we've observed, we've gathered 5 resources worth bookmarking when you need to report on how fraud trends are evolving and how your team can stay prepared. For those who would like to chat about these trends more in depth – or would like to share their own card fraud pain points - we are always here to listen and lending a helping hand.


There's been two major breaches reported recently: Hy-Vee and Capital One. When the occurred, we shared our insight into the impact and how you can prepare your cardholders for when breaches like these occur. These tips don't just stop with these two specific breaches — they are designed to be actionable tips to protect your cardholders from the fallout from future breaches.

The details about the Hy-Vee data breach reported this week show the long-lasting impact to cardholders: The possible sale of lots of credit card data on the dark web. According to Krebs on Security latest report, information has made its way into a popular carding forum indicating card data is being sold on the dark web. Get our tips on what you should do about the Hy-Vee Breach fallout. READ MORE.

The Capital One data breach was a harsh reminder for financial institutions and their customers that data breaches are an all too common occurrence growing at scale each time the next one hits. The sheer scope of this incident shows how the fallout from this breach could be unknown for years. We break down how financial institutions can respond to breaches like this and protect their cardholders. READ MORE.


It was clear shortly after the EMV liability shift that traditional credit card fraud was going to move to another channel: Card-not-present fraud became that vessel. The real question issuers care about today is how this fraud has evolved and what's next? 

Both CNP fraud and CP fraud can take many forms. What we do know is that CNP fraud is on the rise and it's spreading to new avenues. As new technologies are developed, fraudsters find a way to breach those too. We've gathered the latest CNP fraud intel to help you understand the scope of this ever-evolving problem. READ MORE.


In an era of rising card fraud and data breaches, financial institution leaders are constantly analyzing how they are protecting themselves, and their customers. One of the biggest problems today? Waiting for network alerts can be costly in terms of fraud loss and customer experience.

When relying on network alerts, by the time the information about fraud or a breach is realized, the amount of fraud loss and compromised card fraud can reach high levels. That’s where the power of fraud analytics, big data and machine learning comes into the mix. Financial institutions are getting faster and better at preventing, detecting and stopping fraud, thanks to help from more sophisticated software. But fraudsters are getting faster.  That’s where better data analytics tools bridge the gap by helping financial institutions detect breaches, risk and fraud faster, and at their source. READ MORE.


Synthetic fraud is estimated to cost lenders more than $6 billion annually — and by all accounts, this problem is going to get worse before it gets better. But why is synthetic fraud ballooning – and why are financial institutions finding it increasingly harder to crack down on? A rise in data breaches in recent years has only complicated this problem even more.

Synthetic fraud allows hackers to set up accounts in a person’s name that appear to be authentic, but are in fact fictitious. The construction of new synthetic IDs is based on combining truthful and false information to build a credit file and then open new accounts, which is perpetrated at scale by opening hundreds of new accounts. Since fraudsters don’t need as much personal information as credit card fraud, cyber criminals have shifted their attention to this type of fraud. To help keep FIs educated with the latest data available in the market — and share expert’s take on how this problem has been transforming — we released a white paper. READ MORE.


There's a common question we hear a lot in the market: How does my fraud performance compare to my peers? Are my fraud losses higher or lower than others? What about reissuance costs?

Insight into these questions was part of the our webinar with the ABA. In this webinar, "State of Card Fraud 2019: How Does Your Bank Stack Up?", Rippleshot Co-Founder Canh Tran dives into what happened in 2018, how this is shaping the first quarter fraud trends for 2019 and what we predict is going to shape the rest of the year. This webinar, which aired in May, is now available to listen to at your convenience. READ MORE.

Topics: Fraud