Fraud Prevention
Ever since parents started sneaking broccoli into mac and cheese, fraud has been a problem in the world of food. Unfortunately, the fraud dilemma has not only evolved with the times, it’s also grown up to have some very adult consequences. Today, fraud makes all the ways that customers shop rife with peril and frustration, … Continued
If you’re reading this from anywhere within the EU, then you’ve probably heard about the updated Payment Services Directive (aka – PSD2). PSD2 is going to change how European customers, merchants and banks interact. We’ll have much more to say about it in the future, but, for now, we want to turn the conversation to … Continued
At Riskified, our work centers on relationships with merchants. Our favorite conversations are the ones about how we can help them approve more orders, operate more efficiently, and fend off the threats of fraud and false declines. But, in order to gain some new insights for 2019, we recently turned our attention to U.S. consumers. … Continued
A fraud solution that instantly approves good orders and reduces false declines can also greatly contribute to a positive customer experience. But even the most accurate fraud-detection systems aren’t correct 100% of the time, meaning that sometimes it’s your very own loyal, paying shoppers behind your declined orders. This makes it important that retailers pay … Continued
In their attempts to compete with online-only merchants, many brick-and-mortar merchants focus on building their digital operations and offerings. They see it as the key to omnichannel success. While a robust online footprint is critical for competitiveness, it’s not a panacea. By concentrating solely on what they lack, these brick-and-mortar merchants are losing sight of … Continued
Fraudsters are constantly looking to exploit vulnerabilities in ecommerce. They try a number of different approaches (“attack vectors”), and if one is proven effective, they exploit it until it’s discovered and the vulnerability closed. Fraudsters are ever-evolving, and, in order to stay ahead of them, merchants must stay abreast of the latest forms of ecommerce … Continued
Suppose you’re a seventeen-year-old who wants to buy a bottle of vodka from the liquor store. The problem, of course, is that you’re underage, and the cashier is definitely going to ask for some ID. So you have two ways to beat the system: buy/steal the ID of someone who looks a bit like you, … Continued
The Merchant Risk Council’s 2017 Global Fraud Survey showed that the average online store declined 2.6% of all incoming orders due to fear of fraud, including 3.1% of all orders worth over $100. For a $25 million business, this means rejecting orders worth more than $600,000 annually. But the true cost of declines is actually … Continued
Data is essential to every aspect of managing an online business, and eCommerce fraud prevention is no exception. Without in-depth analysis, it’s of very little value. We dug into our data, as we often do, looking to find insights into fraud patterns and shopping trends, and created the following interactive map. It’s based on data … Continued
