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
Ecommerce fraud is a global problem. On that, everyone agrees. But new research from Riskified shows that merchants and consumers don’t see eye-to-eye on a key issue in fraud prevention. Consumers are not particularly confident in merchants’ ability to combat fraud. To measure the gap between how merchants and consumers view fraud prevention, Riskified conducted … Continued
Riskified data show that high-end fashion merchants, department stores, and online marketplaces enjoyed a spike in transaction volume during Ramadan month in 2019, and even more so in 2020. Bolstered by the rapid shift online, the transaction volume processed by marketplaces between April 23 and May 23 of last year outpaced even the number of … Continued
When merchants are shopping for a new fraud prevention solution, the questions that come up most revolve around costs and bottom-lines: can this service reduce my chargeback problem? Can it help increase my transaction approval rate? And, of course, how much will it cost? While these are all fundamental questions, according to Raz Vicerabin, … Continued
Fraudsters and fraud systems are in a constant arms race. While fraud management solution providers constantly develop new tools, fraudsters perfect their craft by studying new ways to circumvent any walls put up to keep them out. For instance mule scams used to be fairly simple, with fraudsters using basic package rerouting efforts to receive … Continued
Any good captain will tell you it’s impossible to acquire customers in a turbulent industry like travel without a good flight plan. For airlines and online travel agencies (OTAs), that’s where loyalty and frequent flyer programs, alliances and partnerships, fare sales and social outreach all come into play. But Facebook posts, low fares, and pretzel-filled … Continued
The holidays are only a few weeks away, and fraud teams are gearing up for yet another record-breaking season; sales forecasts call for a 10% to 16.6% volume increase over last year. To help fraud teams prepare for the order surge, we took a close look at last year’s holiday shopping and fraud patterns. Here’s … Continued
Most of you have heard of Tinder: the highly addictive (or so I’ve been told) dating application. Since launching in 2012, the original swiping app has generated over 20 billion matches which, yes, is far more than the number of humans on the planet. A lot of Tinder’s success can be attributed to very advanced algorithms … Continued
Managing eCommerce fraud operations is no easy task; whether hiring, training, and managing a manual review team, monitoring approval rates, and optimizing internal rules, a fraud manager’s attention is often drawn to many places at once. With so much on their plate at any given time, it’s easy to understand why merchants are drawn to … Continued