Rippleshot Blog

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

FinTech Data Protection: What Consumers Expect From Banks and Credit Unions

Posted by Anna Kragie on Sep 7, 2018 8:40:16 AM

Consumers are growing increasingly concerned about how and where their personal credentials are being shared as a result of using FinTech apps —  particularly information linked to a banking or credit card account.

As more consumers turn toward FinTech apps to manage their finances, more indicate being concerned about the measures banks and credit unions are taking to safeguard their information. This data digs into how consumers feel about data privacy, interacting with FinTech apps and how FIs are using and storing that data.

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Topics: Industry News

US Payments Forum's "Spring 2017 Market Watch Snapshot" in a Nutshell

Posted by Kaleigh Simmons on May 11, 2017 11:09:08 AM

At the end of April, US Payments Forum released its "Spring 2017 Market Watch Snapshot." The Forum is a cross-industry body created to address issues that require broad cooperation across the payments industry, including the introduction of EMV chip technology and other payment technologies in the U.S. Their report's top three topics of focus included merchant EMV chip adoption, clarifying CNP fraud status, and increasing focus on transit payments.

Here's a peek into US Payment Forum's recently released key insights on the subjects.

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Topics: Industry News, EMV, Payments

The Year of the SMB Breach

Posted by Sid Khaitan on Sep 30, 2016 6:10:01 AM

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2 years ago, security professional and evangelist David Holmes dubbed 2014 as the “The Year of the Mega-Breach”, and reasonably so, as multiple headlines featured news of massive data breaches at Home Depot, J.P. Morgan Chase, and eBay. However, the following year had a roster of mega-breaches that made the previous year’s incidents pale in comparison, causing the term to quickly become obsolete. After a holistic review of the data breaches that have occurred throughout the current year, the Rippleshot Team has decided to resurrect the concept- with a little twist. Follow along as we discuss why 2016 is “The Year Of The SMB Breach”, how data breaches can be catastrophic to small to mid-size businesses (SMBs), and what implications SMB breaches have for the overall cybersecurity industry.

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Topics: Compromises, Industry News, Data Breach Statistics, Cybersecurity

The Return of Ransomware

Posted by Sid Khaitan on Sep 21, 2016 11:37:06 AM

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Bad news. Ransomware is back with a newfound vengeance. Many of us know ransomware to be a notorious form of malware that prevents users from accessing their own systems, either by locking a user from a system entirely (locker ransomware), or encrypting user files on an affected system (crypto-ransomware). In either case, users are forced to pay a ransom in order to restore functionality and access, many times to the tune of thousands of dollars. Although ransomware dates back to 1989, its practice has ebbed and flowed in its prevalence over the years. However, it is clear that 2016 has seen a marked increase in the frequency, cost, and effectiveness of ransomware incidents. Follow the Rippleshot Team as we document the return of ransomware and its impact on the cybersecurity landscape of 2016.

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Topics: Industry News, Fraud, Cybersecurity, Regulation

A Timeline of Fraud: 2015-2016

Posted by Sid Khaitan on Jul 6, 2016 4:35:59 PM

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The landscape of fraud between 2015 to 2016 is best characterized as uncertain and dynamic. As government institutions such as the CFPB and FFIEC begin to play a bigger role in cybersecurity regulation, it has yet to be seen what data security protocols will be required of financial institutions. Also, pending legislation in Congress surrounding data security has the potential to determine federal standards of information security for merchants. Finally, with back-and-forth lawsuits between retailers, payment card networks, and issuers over disputes regarding EMV compliance and liability shift, nobody is exactly sure who will come out on top.


At Rippleshot, we understand how difficult it can be to juggle so many moving parts and develop actionable insights from them. That’s why we created a timeline for you to get up to speed on recent developments in card fraud and payments security.

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Topics: Compromises, Industry News, Rippleshot News, Lawsuits, Data Breach Legislation, EMV, Fraud, Cybersecurity, Regulation

The Data Security Act of 2015- What does it mean for banks and merchants?

Posted by Sid Khaitan on Jun 15, 2016 2:57:00 PM

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A fiery debate has resurfaced between financial institutions, merchants, and consumer groups regarding the Data Security Act of 2015. The bipartisan bill introduced to Congress as H.R. 2205 by Representatives Randy Neugebauer and John Carney on May 1st, 2015 explicitly states two purposes: “to establish strong and uniform national data security and breach notification standards for electronic data” and “to expressly preempt any related State laws in order to provide the Federal Trade commission with authority to enforce such standards for entities covered under this Act.”

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Topics: Industry News, Rippleshot News, Lawsuits, Data Breach Legislation, EMV, Fraud, Cybersecurity

Cybersecurity: The Hot New Topic in Regulatory Space

Posted by Kaleigh Simmons on Mar 31, 2016 5:24:10 PM

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It’s been a hot couple of months for regulators and cybersecurity. Back in June, the FFIEC (Federal Financial Institutions Examination Council) introduced a new cybersecurity assessment and recommended guidelines for banks and credit unions. In August, a U.S. appeals court ruled that the FTC (Federal Trade Commission) has the authority to regulate corporate cybersecurity. And just a few weeks ago, Dwolla, a payment platform company, found itself the first ever data security target of the CFPB (Consumer Financial Protection Bureau), and was hit with $100,000 in fines. We review the details of each, and what this means for the future.

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Topics: Industry News, Regulation