“I would say Riskified changed our lives.”
Eileen Shulock, VP eCommerce at Kirna Zabête
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This Mother’s Day is projected to bring in $23.6 billion in revenue, easily clearing last year’s record of $21.4 billion. For many eCommerce retailers, optimism about the surging order volume over this major shopping holiday is tempered by fear of CNP fraud. As Mother’s Day approaches, we analyzed historical order data to provide eCommerce merchants with tips and insights to help streamline the fraud review process in the days leading up to this lucrative opportunity.

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It’s expected that by 2019 more than 60% of total global online retail sales will be made via mobile devices. According to the 2017 Global Fraud Survey, while more than 80% of merchants support mobile shopping, only 52% actually track fraud rates by channel. To make the most of this expanding segment and account for the growing share of mobile shoppers, online retailers will need to adapt CNP fraud management processes.

Riskified has extensive experience preventing CNP fraud across channels. We have processed millions of mobile orders for online businesses, including Fortune 500 companies. By analyzing our data, we determined how mobile fraud compares to desktop and compiled our findings in a special report. The report provides retailers with tips and actionable advice for adjusting fraud management process to effectively handle mobile transactions without compromising the shopping experience.

Our design team has created the following infographic, which offers a visual sample of some the insights covered. For more information on fraud prevention best practices, download a free copy of the full report.

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Mobile commerce (mCommerce) is quickly becoming the first choice of consumers across the globe, with over 2 billion smartphone and tablet users expected to make at least one mobile transaction in 2017. Thanks to its appeal to young shoppers, mobile has now surpassed desktop in terms of eCommerce transaction volume. And with consumers in emerging economies increasingly accessing the internet via mobile devices, mCommerce is likely to become the preferred digital shopping method of the future. According to forecasts, more than 60% of total global online retail sales will be made via mobile by 2019.

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Direct video surveillance of shoppers has long been the holy grail of fraud prevention, and today–after years in development–Riskified is thrilled to unveil the latest advent in fraud-prevention technology: ‘Cameo’. Cameo is a proprietary fraud detection technique powered by behavioral analysis of online shoppers, which can automatically determine the legitimacy of an order with extreme accuracy.

Early trials of Cameo have yielded exciting results, and we expect this surveillance data will allow us to dramatically improve our merchants’ approval rates while nearly eliminating CNP fraud.

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We usually think of online fraudsters as liars – that the success of their operation depends on how convincingly they can pose as the legitimate card holder. But CNP fraudsters’ hands are forced when it comes to revealing their location, and ultimately they have to give their real shipping address when purchasing tangible goods, or else they won’t receive them.

Riskified has processed millions of orders across online verticals, from which we’ve drawn enormous insight into the ways fraudsters use nontraditional shipping methods to obscure their physical location in order to receive stolen goods. We have drawn on this experience to compile an eBook detailing these classic tricks, as well as tips for distinguishing fraudulent orders apart from safe – even if unusual looking – ones.

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The online gift card market is thriving. Ecommerce sales of gift cards are increasing by 29% YOY, and by 2018, the US gift card market is expected to be worth $160 billion, driven primarily by surging digital gift card sales.

Riskified’s work with Fortune 500 retailers who sell gift cards, as well as leading gift card-only merchants and P2P secondary gift card marketplaces, has afforded us enormous insight into the CNP fraud challenges facing gift card sellers. We have drawn on this experience to compile a report sharing data about fraud patterns in online gift card sales, and outlining best practices for anyone selling gift cards online. In this post, I share a few of the key findings that appear in the full report:

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Last year, to mark International Women’s Day, we researched the role of gender in CNP fraud patterns, and found that males committed fraud at a significantly higher rate than females. This year we decided to revisit the topic, analyzing hundreds of thousands of eCommerce transactions from global digital retailers to reveal some interesting findings about gender in the online market.

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In the rapidly growing eCommerce market, high-friction and time-consuming identity verification processes can have a significant impact on customer acquisition and retention rates. Airlines and online travel agencies (OTAs) face the precarious balancing act of protecting revenue from CNP fraud, while providing a smooth shopping experience. When competing travel sites offer interchangeable products, brand loyalty is vital, as customers tend to be even less forgiving if merchants fail to meet their expectations.

In this article I share five actionable tips for driving online revenue while providing a good shopping experience without incurring fraud-related losses.    

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The global jewelry and watch market is projected to be worth $407.5 billion by the end of 2019. With jewelry and watch retailers increasingly turning to eCommerce to reach new customers, growth will largely be fueled by digital sales. In fact, by 2020, online sales are expected to account for 25% of the global jewelry market.

But as eCommerce becomes more prominent, retailers need to adjust their fraud management processes to protect revenues while maximizing online sales.

Riskified has extensive experience protecting online jewellers and watch retailers from CNP fraud. We analyzed our data and compiled a report on trends and best practices for effectively distinguishing between legitimate orders and fraud in this industry. In this post, I offer a small taste of the insights that appear in the full report.

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We are excited to announce the addition of a new resource to our Buyer’s Kit: The CNP Fraud Lexicon. The Lexicon is a collection of the most pertinent concepts and expressions used within the fraud-prevention industry, all clearly explained. Our goal was to demystify many of the technical terms used by fraud analysts to describe fraudster behavior, benchmarking metrics, fraud prevention tools, and more.  

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