How can merchants ensure that their fraud prevention strategy is successful and what is the best approach to address potential threats? The Paypers sat down with ephraim rinsky, Senior Product Marketing Manager at Riskified, to discover what differentiates an accountable fraud provider from one that doesn’t guarantee results. If you wish to find out more about how ecommerce players can best embark on their journey to fighting fraudulent behaviour, head on to page 38 of our flagship Fraud Prevention in Ecommerce Report 2024-2025 ➡️ https://bit.ly/3XJppkv. You’ll discover key insights related to: ✅ How fraud threatens revenue and profit margins; ✅ The differences between an accountable fraud partner and a non-accountable fraud vendor. ✅ The characteristics of an accountable fraud partner; ✅ Why having an accountable fraud partner should interest CFOs and other C-suites; ✅ What makes an accountable fraud partner more suitable than those offering non-guaranteed recommendations? #fraudprevention #ecommerce #fraudattacks #financialcrime #fraudpartner #partnership #data #dataanalytics #chargebacks #tech #AI #investments #merchants #datascience #riskmodelling #SLA #R&D #feestructure #ThePaypers
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Don’t miss this insightful interview on fraud prevention with CMSPI’s Director of Fraud Solutions, Justin Staskiewicz, CFE, and download the The Paypers entire Fraud Prevention in Ecommerce report below.
Have you ever wanted #expert advice on how to develop a future-proof fraud prevention strategy? We, at The Paypers, sat down with Justin Staskiewicz, CFE, Director of Fraud Solutions at CMSPI, to help find out just that! ➡️ https://lnkd.in/dGgyJyTW In this in-depth #interview, you can find out the answers to the following questions: ✅ How has #fraud prevention changed since you joined the industry? ✅ How have #merchants adapted to these changes? ✅ What role do machine learning (#ML) and artificial intelligence (#AI) play in merchants’ approaches? ✅ What will be the biggest #challenge for merchants in preparing for that future? ✅ If I’m a merchant reading this, what’s a sign that I need to reset my fraud strategy? ✅ What should merchants do next? 💬 ‘That moral grey zone combined with financial hardship makes it easier for people to digest getting involved with friendly fraud.’ – This alone should convince you to revise your #approach to fraud. Find out more about how to address this by reading Justin’s insights here ➡️ https://lnkd.in/dGgyJyTW The contribution is part of a larger discussion tackled by several thought leaders within the field, and we’ve included the link at the end of the article so you can download the Fraud Prevention in Ecommerce Report 2024-2025 and learn more about fraud prevention. #fraudprevention #scammers #ecommerce #machinelearning #artificialintelligence #financialfraud #friendlyfraud #fraudtactics
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Have you ever wanted #expert advice on how to develop a future-proof fraud prevention strategy? We, at The Paypers, sat down with Justin Staskiewicz, CFE, Director of Fraud Solutions at CMSPI, to help find out just that! ➡️ https://lnkd.in/dGgyJyTW In this in-depth #interview, you can find out the answers to the following questions: ✅ How has #fraud prevention changed since you joined the industry? ✅ How have #merchants adapted to these changes? ✅ What role do machine learning (#ML) and artificial intelligence (#AI) play in merchants’ approaches? ✅ What will be the biggest #challenge for merchants in preparing for that future? ✅ If I’m a merchant reading this, what’s a sign that I need to reset my fraud strategy? ✅ What should merchants do next? 💬 ‘That moral grey zone combined with financial hardship makes it easier for people to digest getting involved with friendly fraud.’ – This alone should convince you to revise your #approach to fraud. Find out more about how to address this by reading Justin’s insights here ➡️ https://lnkd.in/dGgyJyTW The contribution is part of a larger discussion tackled by several thought leaders within the field, and we’ve included the link at the end of the article so you can download the Fraud Prevention in Ecommerce Report 2024-2025 and learn more about fraud prevention. #fraudprevention #scammers #ecommerce #machinelearning #artificialintelligence #financialfraud #friendlyfraud #fraudtactics
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Terrific interview with CMSPI's Justin Staskiewicz, CFE on developing a future-proof fraud prevention strategy. Click through for some great insights.
Have you ever wanted #expert advice on how to develop a future-proof fraud prevention strategy? We, at The Paypers, sat down with Justin Staskiewicz, CFE, Director of Fraud Solutions at CMSPI, to help find out just that! ➡️ https://lnkd.in/dGgyJyTW In this in-depth #interview, you can find out the answers to the following questions: ✅ How has #fraud prevention changed since you joined the industry? ✅ How have #merchants adapted to these changes? ✅ What role do machine learning (#ML) and artificial intelligence (#AI) play in merchants’ approaches? ✅ What will be the biggest #challenge for merchants in preparing for that future? ✅ If I’m a merchant reading this, what’s a sign that I need to reset my fraud strategy? ✅ What should merchants do next? 💬 ‘That moral grey zone combined with financial hardship makes it easier for people to digest getting involved with friendly fraud.’ – This alone should convince you to revise your #approach to fraud. Find out more about how to address this by reading Justin’s insights here ➡️ https://lnkd.in/dGgyJyTW The contribution is part of a larger discussion tackled by several thought leaders within the field, and we’ve included the link at the end of the article so you can download the Fraud Prevention in Ecommerce Report 2024-2025 and learn more about fraud prevention. #fraudprevention #scammers #ecommerce #machinelearning #artificialintelligence #financialfraud #friendlyfraud #fraudtactics
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💬 ‘Disconnects between front and back-end processes create gaps that allow fraud to go unnoticed, so fraud solutions must reach beyond the checkout to unify insight from multiple data sources’, expertly says Erika Dietrich, VP of Analytics & Optimisation Payments Intelligence at ACI Worldwide in her interview for 𝐓𝐡𝐞 𝐏𝐚𝐲𝐩𝐞𝐫𝐬’ 𝐅𝐫𝐚𝐮𝐝 𝐏𝐫𝐞𝐯𝐞𝐧𝐭𝐢𝐨𝐧 𝐢𝐧 𝐄𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 2024-2025. ➡️ https://lnkd.in/dByRtpdE 💡 Exploring how transaction intelligence can be leveraged to help ecommerce businesses work faster, Erika addresses several topics of importance: ✅ How #ecommerce brands should approach fraud management; ✅ Why #merchants struggle with real-time fraud decisions despite having access to tools that can help; ✅ Whether poor insights contribute to #fraud-related issues such as return abuse and #synthetic fraud; ✅ Key aspects to improve the ‘at scale’ decision-making process; ✅ Defining ‘#signals’ and what they mean for real-time fraud detection; ✅ Consumer #privacy standards and whether they should impact the use of #AI. Not only is the #interview a standalone insightful source into relevant aspects of fraud defence, but it is also featured alongside other expertly crafted contributions from thought leaders within the field. We invite you to read on, and if you’re interested in finding out more about this demanding industry, download the #report through the link included in the article! ➡️ https://lnkd.in/dByRtpdE #fintech #syntheticfraud #realtimedecisioning #fraudmanagement #analytics #data #dataanalytics #returnabuse #fraudprevention #privacystandards #frauddetection #AIAct #ThePaypers
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📰 News: 📰 🚀 Exciting Partnership Alert: Kompliant and Equifax Team Up for Next-Level Fraud Prevention! 🔍 We are thrilled to announce that Kompliant is partnering with the Digital Solutions Unit at Equifax to bring you unbeatable fraud prevention solutions. This dynamic duo aims to revolutionize merchant underwriting and risk management by leveraging cutting-edge artificial intelligence. Here’s what you need to know: 📊 The global cost of fraud was a staggering $32.39 billion in 2020, with eCommerce being heavily targeted. 🤖 Kompliant will integrate Equifax’s Kount Payment Fraud solutions, which use both supervised and unsupervised machine learning to scrutinize every transaction. 🔍 This partnership promises to provide a comprehensive solution for financial institutions, making fraud detection more effective and operational processes more efficient. Scott Przybyla, SVP at Kount Payments Sales, Digital Solutions at Equifax, stated, “Together with Kompliant, we’re empowering financial institutions to drive their organization’s growth without compromising their security." Ready to tackle sophisticated fraud tactics head-on? 💪 Join the conversation and let us know how your organization is handling fraud prevention in the comments below! Don't forget to follow Bernier Group for more updates on cutting-edge solutions and digital transformations! 🚀✨ #Hospitality #Ecommerce #Retail #Commerce #Manufacturing #Logistics #Strategy #Innovation #Business #ArtificialIntelligence #AnniQ https://lnkd.in/eTZEfEt8
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🔍📚The Paypers’ Fraud Prevention in Ecommerce Report 2023-2024 is the perfect source of information for those who want to learn about the capabilities of 🔝 players in the fraud prevention industry. 📌As each #merchants struggle with specific industry-related struggles, our Company Profile Section of the report provides a deep-dive into players’ top solutions, for an informed decision for next partnerships. Only by working together and by deploying the latest #fraud prevention capabilities, we can create a #seamless, #frictionless #checkout and ensure safe browsing through the World Wide Web for end-users. ➡️Check out the full company profiles list by downloading your #free copy of the report today 📩 https://bit.ly/47N4uAc A special shoutout📣 to our star✨ #contributors: EverC, Identiq, Justt, LexisNexis Risk Solutions #thepaypers #report #fraudprevention #ecommerce #fraud #ato #GenAI #artificialintelligence #dataprotection #behavioralbiometrics #biometrics #digitalidentity
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Each instance of friendly fraud results in a double loss for businesses. Moreover, if you're a small business that experiences high chargeback ratios, may face penalties from payment processors, including higher fees or even account termination. If you fall under any of these categories, then this webinar is a must for you. - eCommerce business owners - Payment gateway and processing professionals - Risk and fraud management teams - Customer support executives Hosted by the Global Business Head of Sensfrx, with over 14 years of experience in product development and a deep focus on fraud prevention and security, Jinendra brings unparalleled expertise to the table. Register now: https://lnkd.in/gYFCcFBb #friendlyfraud #ecommerce #payments #webinar #merchantprotection #chargebacks
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𝗨𝗻𝘃𝗲𝗶𝗹𝗶𝗻𝗴 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗳𝗿𝗼𝗺 𝗖𝗮𝗿𝗱 𝗙𝗿𝗮𝘂𝗱 𝗗𝗲𝘁𝗲𝗰𝘁𝗶𝗼𝗻 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 Fraudulent transactions not only lead to financial losses but also erode customer trust. Through analyzing 1,000𝑲 𝒕𝒓𝒂𝒏𝒔𝒂𝒄𝒕𝒊𝒐𝒏𝒔. 𝗞𝗲𝘆 𝗙𝗶𝗻𝗱𝗶𝗻𝗴𝘀: 𝗙𝗿𝗮𝘂𝗱 𝗥𝗮𝘁𝗲: 8.74% (87.40K cases) – a wake-up call for businesses to strengthen transaction monitoring systems. 𝗙𝗿𝗮𝘂𝗱𝘂𝗹𝗲𝗻𝘁 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝘁𝘆𝗽𝗶𝗰𝗮𝗹𝗹𝘆 𝗶𝗻𝘃𝗼𝗹𝘃𝗲: Higher distances from home: Avg. 66.26 miles compared to 22.83 miles for genuine transactions. 𝗨𝗻𝘂𝘀𝘂𝗮𝗹 𝗽𝗿𝗶𝗰𝗲 𝗿𝗮𝘁𝗶𝗼𝘀:Fraudulent purchases average a 6.00x ratio to the median purchase price. 𝗢𝗻𝗹𝗶𝗻𝗲 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀: A staggering 95% of fraud cases occur in online orders. 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗜𝗺𝗽𝗮𝗰𝘁: 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗟𝗲𝗮𝗸𝗮𝗴𝗲: Frequent fraud directly hits profit margins and operational costs. 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗧𝗿𝘂𝘀𝘁: Every fraud case can weaken customer confidence, impacting long-term brand loyalty. 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀: Increased fraud cases lead to higher resources spent on disputes and chargebacks. 𝗗𝗮𝘁𝗮-𝗗𝗿𝗶𝘃𝗲𝗻 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀: 1. 𝗙𝗿𝗮𝘂𝗱 𝗠𝗼𝗻𝗶𝘁𝗼𝗿𝗶𝗻𝗴: Implement AI-powered real-time fraud detection systems to flag anomalies like: 2. Long transaction distances. 3. Abnormal purchase price ratios. 4. 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗢𝗻𝗹𝗶𝗻𝗲 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆: Enhance security protocols for online transactions by adding multi-factor authentication. 5. 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗣𝗿𝗼𝗳𝗶𝗹𝗶𝗻𝗴: Leverage behavioral patterns to identify and prevent suspicious activities proactively. 6. 𝗣𝗼𝗹𝗶𝗰𝘆 𝗢𝗽𝘁𝗶𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻: Refine refund and transaction policies to reduce exploitation opportunities. #DataAnalytics #FraudDetection #BusinessInsights #CardFraud #DataDrivenDecisions #AnalyticsForGood #BusinessGrowth #CustomerTrust #FinancialSecurity #TransactionMonitoring #OnlineSecurity #AIinBusiness #MachineLearning #BigData #RiskManagement #CyberSecurity #DataVisualization #DecisionMaking #BusinessStrategy #CustomerExperience #DecisionMaking
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🔔 The #holidayseason isn't finished just yet, with millions of people across the world getting ready for #valentinesday . Ahead of this #commercial #holiday with spikes in #ecommerce sales, Roenen Ben-Ami, Co-Founder, and CRO at Justt talks about first-party misuse and how it increases, focusing on: ✔ The damage done by first-party misuse, namely the cost of #friendlyfraud chargebacks and #returnfraud. ✔ How to tackle #firstpartymisuse. ✔ #Customers and how sometimes they’re wrong. Make sure to check out his contribution on page 44 of The Paypers’ Fraud Prevention in Ecommerce Report 2023-2024! https://bit.ly/47N4uAc #chargebacks #fraudprevention #automation #AI #machinelearning #behaviouralanalytics #research
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This #CybersecurityAwarenessMonth got me thinking about all the #FraudFighters I’ve talked to in recent months — some in the course of researching Signifyd's State of Fraud and Abuse 2024 report. Talking with fraud experts is a perk of the job. They are a bright and determined community that specializes in reverse engineering the diabolical schemes that fraudsters unleash to rip off online merchants and brands. Over the coming days, I’ll feature quick interview clips with fraud and risk professionals I’ve been lucky enough to talk with about why they do what they do and how they got their start or progressed in their careers. I’ll kick it off with Kelley Andersen, Microsoft's senior director of product, payment fraud and customer enablement, talking about how the determination of bad actors motivates her. You can read more about — and from — these professionals in the State of Fraud report. https://lnkd.in/gCjm_BWj #FearlessCommerce #Ecommerce
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