Fraud Prevention
Accountability is the glue that holds our operations together. It’s about taking responsibility for maintaining the integrity of our business environment. Just as we’re responsible for the well-being of our families and communities, as executive leaders, we’re accountable for our teams’ success and the outcomes they achieve. However, confusion often arises between accountability and consequences. … Continued
Ever heard of the Australia Payments Network (AusPayNet) CNP Fraud Mitigation Framework? If not, you’re not alone. And you’re fortunate. Merchants taking card-not-present (CNP) payments in Australia often learn the hard way about this fraud-reduction program when they get dinged for excessive chargebacks by the Australian Payments Network (AusPayNet). How do we know? Because they … Continued
Crime pays (a lot), according to Riskified data. Our recent analysis on how fraudsters make money shows it takes just 90 minutes of work per week for them to reap returns from malicious activity — and with a $30k weekly investment, fraudsters can generate more than $50k in weekly revenue. Despite this easy payday, there’s … Continued
Effective April 2023, Visa is launching the Compelling Evidence (CE) 3.0 program to update compelling evidence requirements for fraud category chargebacks. While the new framework is designed to help merchants fight friendly fraud, there are concerns about how it will impact the broader chargeback dispute ecosystem. Visa has assured merchants that if they can provide … Continued
May 11, 1997, was a watershed moment. Gary Kasparov, then the no. 1 ranked chess player in the world, lost a match in under 20 moves to IBM’s supercomputer Deep Blue. Despite a temporary rally, the match ended with a 3.5-2.5 win to the machine, reversing Kasparov’s triumph just 15 months earlier. wThe famous match … Continued
The Chargeback Guarantee model of fraud prevention is preferred by large eCommerce businesses because it leads to consistently wide margins and fraud cost predictability. In our decade of operation, it has been the foundation of thousands of thriving, long-term partnerships. The strength of the model is one reason that each year, 99% of our merchant … Continued
Return policy abuse is on the rise, but existing fraud prevention tools simply weren’t designed with this challenge in mind—until now. Riskified’s Eyal Elazar, Senior Director of Product Marketing, and Joe Gelman, Product Marketing Manager for Policy Protect, offer their expert advice on how retailers can protect their bottom line and realize the true promise … Continued
A new survey reveals that consumers are taking advantage of retailers’ policies to obtain goods through fraudulent returns, wardrobing, coupon fraud, and more. In early November 2022, Riskified surveyed 1,000 U.S. eCommerce shoppers about their attitudes toward retail return fraud or policy abuse. Consumers answered if they had ever done any of the following actions … Continued
With consumer spending remaining solid, the overall forecast for 2022 holiday season shopping will be better than expected. Still, fears of recession and rising inflation amidst supply chain woes weigh heavy on shoppers’ minds. This year, 60% of consumers will rely on gift cards to fill gaps in product availability and combat high prices. But to grow the bottom … Continued
