Payments News

On The Web

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Risk & Fraud

Online shopping fraud up—particularly in two categories

“Total online shopping fraud increased 30% in 2017, according to a report from Experian Information Systems. The rise was most dramatic in shipping, where it rose to 37% in 2017 over the previous year, and billing, where the rate increased 34%. (Shipping fraud occurs when a criminal uses their address for the delivery of stolen […]
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Companies

Stripe debuts Radar anti-fraud AI for big business

“Cybersecurity continues to be a growing focus and problem in the digital world, and now Stripe  is launching a new paid product that it hopes will help its customers better battle one of the bigger side-effects of data breaches: online payment fraud. Today, Stripe is announcing Radar for Fraud Teams, an expansion of its free AI-based Radar service […]
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Risk & Fraud

Europol Takes Down E-commerce Fraud Gang

“The suspects arrested during the operation were responsible for more than 20,000 fraudulent transactions with compromised credit cards, with an estimated value exceeding €8 million. The action was coordinated by the European Cybercrime Centre (EC3) from Europol’s headquarters in The Hague. It received the direct assistance from merchants, logistic companies, and banks and payment card […]
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Risk & Fraud

Feedzai To Help Credorax Fight Merchant Fraud

“A technology company founded in 2008 that was among the first to transition into a fully-licensed commercial bank, Credorax credits itself as the first bank designed for e-commerce. A specialist in merchant acquiring, the firm has merchant acquiring banking licences in 32 countries in Europe. Founded in 2008 and headquartered in San Mateo, California, Feedzai […]
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Risk & Fraud

Who’s In Your Online Shopping Cart?

“Crooks who hack online merchants to steal payment card data are constantly coming up with crafty ways to hide their malicious code on Web sites. In Internet ages past, this often meant obfuscating it as giant blobs of gibberish text that was obvious even to the untrained eye. These days, a compromised e-commerce site is […]
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Risk & Fraud

HOW HACKERS SLIPPED BY BRITISH AIRWAYS’ DEFENSES

“ON FRIDAY, BRITISH Airways disclosed a data breach impacting customer information from roughly 380,000 booking transactions made between August 21 and September 5 of this year. The company said that names, addresses, email addresses, and sensitive payment card details were all compromised. Now, researchers from the threat detection firm RiskIQ have shed new light on how the attackers […]
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Risk & Fraud

E-commerce site is infected not by one, but two card skimmers

“Payment card skimming that steals consumers’ personal information from e-commerce sites has become a booming industry over the past six months, with high-profile attacks against Ticketmaster, British Airways, Newegg, and Alex Jones’ InfoWars, to name just a few. In a sign of the times, security researcher Jérôme Segura found two competing groups going head to head with […]

On The Wires

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Risk & Fraud

ASC X9 Publishes New Report On Card-Not-Present Fraud Mitigation And White Paper On Distributed Ledger/Blockchain Technologies

“Today the Accredited Standards Committee X9 Inc. (X9) announced the publication of two new documents: Technical Report 48 – “Card-Not-Present (CNP) Fraud Mitigation in the United States: Strategies for Preventing, Detecting, and Responding to a Growing Threat” and a white paper from the X9 Distributed Ledger and Blockchain Technology Study Group. TR 48 summarizes guidelines to […]