What’s the deal with friendly fraud? First-party fraud? Chargebacks?! No matter what way you choose to call it, it's an e-commerce nightmare for merchants, and it's the core reason for everything we do at PAAY. Friendly fraud is when people dispute charges on their credit cards, and in 2024, consumers are disputing charges more than ever before. This comes with a plethora of negative impacts for both the consumer and most of all, the merchant. Have you ever experienced #friendlyfraud ? 💳🔍🕵️♂️💼 https://lnkd.in/gqaPJJrg #FriendlyFraud #CreditCardChaos #NBCNews
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📢 The Federal Trade Commission just released their 2023 Consumer Sentinel Network Data Book, packed with insights on reported scams. Have fraud losses increased or decreased this year? What are the top reported scams? 1️⃣ Scammers target not only individuals but also lawful businesses and communities. 2️⃣ Legitimate businesses can unknowingly become "scam-adjacent" when scammers hide behind their facade. #Scams #B2BPayments #bottomline #lifeatbottomline #paymode-x
Facts about fraud from the FTC – and what it means for your business
social.bottomlinepayments.com
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The latest Federal Trade Commission data has revealed US consumers lost over $10 million to fraud last year alone - a worrying 14% increase from 2022. Learn more in this week’s blog post. . . . . . #fraud #fraudprevention #merchantservices #merchant #business #federaltradecommission #data #alto #altopay
US: Latest Reports Reveal Over $10 Million Were Lost To Fraud in 2023
https://altopay.com
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Dr. David Maimon shows how in the online fraud community, competitors are often criticized, and product superiority is boasted. In the realm of check theft, individuals brag about accessing USPS mail. In a recent video, a mail thief flaunted unrestricted access to a mail room, but offensive language prompted audio muting. In the original clip, the criminal boasted: “people ain't got glass like me… the whole mail room …all this pretty money.. we get money right in front”. #bankaccounts #bankaccount #data #money #markets #banks #bank #syntheticidentity #banking #canadian #fraud #onlinefraud #fraudprevention #illicittrade #identitytheft #financialinstitutions #financialcrime #identitytheftprotection #bankaccount #driverslicense #quality #marketing #property #debitcard #address #business #smallbusiness #onlinefraud #fraudprevention #fruaddetection #creditcard #creditcards #ssn #fullz #darkweb #darkwebmonitoring #checks #dropaccounts #dropaccount #futurecrime #tutoriales #privacy #victims #smartphone #smartphones #ai #trust #money #markets #dl #driverslicense #policy #prevention #recomendations #socialmedia #research #financialinstitutions #dropaccount #address #residency #analysis #retail #work #lawenforcement
Disparaging competitors and boasting about product superiority are frequent occurrences within the online fraud community. Specifically within the realm of check theft, individuals involved in mail theft often boast about their ability to access USPS mail and envelopes. In a recent video uploaded this morning by one of the mail thieves, the perpetrator flaunts and discusses their unrestricted access to an entire mail room. Due to offensive language, the audio has been muted in the edited version. However, in the original unedited clip, the criminal can be heard stating: “people aint got glass like me…I mean the whole mail room …all this pretty money.. we get money right in front”. #bankaccounts #bankaccount #data #money #markets #banks #bank #syntheticidentity #banking #fraud #onlinefraud #fraudprevention #illicittrade #identitytheft #financialinstitutions #financialcrime #identitytheftprotection #bankaccount #driverslicense #quality #marketing #property #debitcard #address #business #smallbusiness #onlinefraud #fraudprevention #fruaddetection #creditcard #creditcards #ssn #fullz #darkweb #darkwebmonitoring #checks #dropaccounts #dropaccount #futurecrime #tutoriales #privacy #victims #smartphone #smartphones #trust #money #markets #dl #driverslicense #policy #prevention #recomendations #socialmedia #research #financialinstitutions #dropaccount #address #residency #analysis #retail #work #lawenforcement
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#DYK that purchase scams are on the rise? 📈 If you’re shopping online, make sure you: - check the website URL - avoid paying by bank transfer - always do your research on sellers Figures from UK Finance show criminals stole nearly £1.2 billion through fraud and scams last year. And there were over 400 purchase scams a day! #StopChallengeProtect #PurchaseScams #OnlineShopping #TakeFive #Fraud #Scams
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Prevent Fraud! Pay the safest way when making online purchases. According to federal law, credit cards are the most secure way to pay for online purchases. If someone makes unauthorized charges to your account, you are only liable for a maximum of $50. Most credit card issuers will even remove the charges completely if you report the problem promptly. Stay safe and protect your purchases by using a credit card! #onlineshopping #creditsafety #securepayments
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Found a last minute holiday bargain? Fraud poses a major threat to the UK so this summer, we're sharing advice from our partners at Take Five to Stop Fraud. Be sure to do your research and read online reviews from reputable sources to check offers are genuine and always use the secure payment method recommended by online retailers. Criminals can pretend to be trusted organisations, offering you too good to be true prices, in an attempt to steal your money or personal information. Ask yourself – could it be fake? If the deal looks too good to be true, it usually is! #TakeFive #HolidayScams #ActionFraud
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Card fraud is when a criminal steals personal information from your credit or debit card or steals the card itself. What to look out for 👀: - You see an abnormal transaction on your bank statement – call the bank if you know you didn’t approve this. - Your credit card is unexpectedly declined – if this happens, contact your bank immediately. - You receive bills, invoices or receipts that you weren’t expecting – call the company who sent it and check why. #TakeFive #cardfraud
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Did you know that chargebacks are a hidden challenge many businesses face? That’s why we created the 2024 Chargeback Field Report! 📊 This essential report dives into critical topics like the impact of new payment methods on fraud, what merchants are doing (or not doing) to protect themselves, and the difference between friendly fraud and criminal fraud. Download your FREE report now: https://hubs.li/Q02RTbYr0 #ChargebackReport | #FraudPrevention | #eCommerce
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Curious about the latest trends in friendly fraud? Dive into this insightful survey report by Ravelin, shedding light on the evolving landscape of friendly fraud and its impact on businesses. #FraudPrevention #BusinessInsights #Ravelin
Refund fraud, promo abuse, multi-accounting for voucher re-use... Ravelin's latest Consumer Fraud Survey shines the spotlight on friendly fraud. Read our new article ⬇️ to get a better understanding of consumer fraud trends, types, techniques and findings. #survey #consumertrends #fraudawareness #ecommerce #onlineretail #consumers #consumer #strategy #onlineshopping #onlinesale #securegrowth
Friendly Fraud Survey by Ravelin: Consumer fraud trends analysis – Ravelin
ravelin.com
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Manager @ LexisNexis | Optimizing payment processing | Supporting Cross-Border remittance
Authorized Push Payment #fraud is more prevalent than ever, even surpassing card fraud and #identityfraud. Read our latest article with The Paypers and explore how to keep your business one step ahead of this trend and others in 2024.
Read our article and stay one step ahead of the payments trends shaping 2024
