Digital fraud has been a steadily growing problem over the past several years, but the pandemic has made it impossible to ignore. Bad actors have been preying on businesses’ and individuals’ economic- and health-related anxieties to stage account takeovers, credential stuffing attacks, impersonation schemes and...
Reputation is everything for jewelry merchants, but their credibility can lose its luster if artificial intelligence (AI)-equipped fraudsters aren’t preemptively stopped. In this month’s Digital Fraud Tracker, Jim Dunlap, chief information officer of jewelry and home goods retailer Kendra Scott, explains how the jewelry merchant...
Digital fraud continues to be an ongoing problem for banks, retailers, merchants and businesses of all types, as well as the customers that patronize them. The Federal Trade Commission (FTC) reported that it received more than 2 million fraud reports in 2020, with total losses...
FinTech artificial intelligence (AI) firm Feedzai raised $200 million in a Series D funding round that gives the Silicon Valley startup a valuation topping $1 billion. “Feedzai’s technology is the cornerstone of today’s commerce as consumers across the globe expect fast, reliable, seamless, and, above...
eCommerce has been on the rise for the better part of 30 years, but it got a huge boost from the pandemic as safety measures severely curbed brick-and-mortar retail traffic and forced consumers to shop online. The year 2020 saw $3.9 trillion spent on eCommerce...
Credit card fraud accounts for more than $27 billion in annual losses, posing an especially grave threat to merchants selling high-value items like diamond rings. In this month’s Digital Fraud Tracker, PYMNTS talks with Apeksha Kothari, chief operating officer of diamond ring eTailer Rare Carat,...
eCommerce has witnessed a surge in popularity during the pandemic as shoppers purchase goods from the safety of their homes instead of setting foot in brick-and-mortar stores. United States merchants made more than $604 billion in online sales in 2020, for example, and this trend...
Expense management and business travel booking platform TravelBank has become an ISO/IEC 27001:2013 certified provider, with its Information Security Management System (ISMS) receiving third-party accreditation from the International Standards Organization, according to a Wednesday (Feb. 24) press release. The ISO/IEC 27001:2013 standards have to do...
Digital fraud is one of the most pressing issues facing the banking sector, with fraudsters deploying a vast array of methods to target financial institutions (FIs) and their customers. Loan fraud complaints totaled 17,349 in Q1 2020 compared to 4,416 complaints during the same period...
