Rippleshot Blog

Hackers Stole Social Security Numbers in Flagstar Data Breach Affecting 1.5 Million Customers

Posted by Rippleshot on Jun 28, 2022 11:13:59 AM

Originally Posted June 21, 2022 on TechCrunch

 

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

MD|DC Credit Union Association-led data breach standard update enacted into law

Posted by Rippleshot on Jun 13, 2022 11:13:49 AM

Originally Posted June 2, 2022 on CUNA

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

Reading the Tea Leaves: a 2022 FRAML Outlook

Posted by Rippleshot on Mar 21, 2022 11:32:11 AM

Originally Posted February 21, 2022 on CUNA by Eric Tran-Le

It’s no secret: 2021 was an ever-evolving year for financial crime fighters. Both threats and world events emerged quickly to forever change the risk landscape, and credit unions have needed to stay five steps ahead to combat these new fraud and anti-money laundering (FRAML) vulnerabilities.

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

Payment Card Verification Remains Leader Among Anti-Fraud Measures

Posted by Rippleshot on Mar 7, 2022 8:31:39 PM

Originally Posted March 7, 2022 on pymnts.com

One of the most important parts of doing business with a new customer is verifying that that customer is who he or she claims to be and that he or she represents the company it claims to represent. While there are myriad ways to do this, there’s a clear winner for online identity authentication.

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

TSYS On Fraud-Fighting FinTech Trends In 2022 And Beyond

Posted by Rippleshot on Feb 23, 2022 2:48:41 PM

Originally Posted Feb 7, 2022 on pymnts.com

As businesses work to keep out fraud and curb false declines in the year ahead, they must bear in mind that context is key. In the Digital Fraud Tracker, TSYS’ Dondi Black explains how companies can tap AI and machine learning to verify data points and use context — such as location — to go long on security while creating a frictionless customer experience.

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

Outsmarting merchant initiated fraud – Exclusive interview with João Moura, Fraudio

Posted by Rippleshot on Feb 11, 2022 11:57:17 AM

Originally Posted Feb 10, 2022 on The Paypers

João Moura, the CEO of Fraudio, discusses how AI models can outsmart merchant initiated fraud and help PSPs and acquirers onboard more merchants in order to grow faster, smarter, and safer

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

Fraud Is On the Rise, and It's Going to Get Worse

Posted by Rippleshot on Feb 2, 2022 1:02:39 PM

Originally Posted Jan 21, 2022 on Dark Reading

The acceleration of the digital transformation resulted in a surge of online transactions, greater adoption of digital payments, and increased fraud.

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

How Credit Unions Can Fight Back Against BIN Attacks

Posted by Rippleshot on Feb 2, 2022 12:50:24 PM

Originally Posted Jan 11, 2022 by Northwest Credit Union Association

When it comes to preventing card fraud, issuers need all the help they can get. Fortunately, credit unions have access to a variety of tools, resources, and expertise in their fight against fraudsters’ ever-changing tactics.

Card not present (CNP) fraud is the dominant type of payment fraud that Strategic Link partner CO-OP Financial Services is seeing among its credit unions’ portfolios, comprising over 80% of fraud incidents across both debit and credit.

One key contributor to this rise has been the increasingly bold use of BIN attacks, one of the most common types of CNP fraud.

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

Crypto Credit Card Fraud Booms Between 2020 and 2021 Finds n.exchange

Posted by Rippleshot on Jan 27, 2022 12:47:20 PM

Originally Posted Oct 4, 2021 by Polly Jean Harrison on The Fintech Times

 n.exchange, a cryptocurrency exchange specialising in fiat on- and off-ramp to make crypto investment user-friendly, unveils its crypto purchase credit card fraud attempt figures for 2019-2021. Its campaign to combat credit card fraud in cryptocurrency highlights a significant rise in fraudulent purchase attempts by cybercriminals using stolen card details, most of which was perpetrated from countries in the Western hemisphere.

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

As BNPL Grows, So Does Threat of Fraud

Posted by Rippleshot on Jan 27, 2022 12:37:39 PM

Originally Posted Jan 24, 2022 on PYMNTS.com

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

New "NoReboot" Hack Can Keep Malware On iPhones Longer

Posted by Rippleshot on Jan 26, 2022 1:47:05 PM

Originally Posted Jan 8, 2022 by Gordon Kelly on Forbes

Last year saw the biggest hack in iPhone history, complete with individual horror stories from affected users. Now a haunting new discovery could make all iPhone attacks a lot worse.

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

Cybersecurity in 2022 – A Fresh Look at Some Very Alarming Stats

Posted by Rippleshot on Jan 26, 2022 1:31:17 PM

Originally Posted Jan 21, 2022 by Chuck Brooks

The past two years has seen a rapid shift of work to remote and hybrid offices. The statistics show that hackers welcomed that shift and took advantage of the vulnerabilities and gaps in security by businesses.

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

Google Pay and Apple Pay chargebacks fraud hardest to challenge

Posted by Rippleshot on Jan 19, 2022 2:05:58 PM

Originally Posted Dec 11, 2020 by Alex Rolfe

Nearly half (40%) of merchants are reporting a rise in friendly fraud over the past 12 months, but the majority are struggling to challenge Google Pay and Apple Pay chargebacks successfully, research by Ravelin finds.

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Topics: Industry News, Fraud, E-Commerce, Data Analytics

Experian Reports E-Commerce Fraud Spiked Over 30 Percent in 2016

Posted by Kaleigh Simmons on Apr 6, 2017 11:19:43 AM

According to a biannual analysis released by Experian, e-commerce fraud is on the rise. The company attributed the 30 percent increase in attacks to the United States' transition to more secure EMV chip cards late 2015. Even though at first glance that may seem counterintuitive, their hypothesis makes perfect sense. Here's why.

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Topics: Fraud, E-Commerce

What's New About 3d Secure Version 2?

Posted by Kaleigh Simmons on Jan 5, 2017 3:41:28 PM

The continued rise in e-commerce fraud as an expected result of the EMV implementation has put a laser focus on existing fraud solutions in the industry - and their shortcomings. 3D Secure was created over fifteen years ago as a way to increase security for online payments, but has seen its fair share of criticism from all parts of the payment spectrum. In October, EMVCo released the long awaited updated specifications for 3D Secure 2.0. Follow along as we highlight what’s new, important and noteworthy in this much anticipated release.

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Topics: Fraud, E-Commerce