Ecommerce Fraud Index

Merchant Fraud Losses Rise 7% in 2017

Merchants’ total fraud losses rose 7% year on year in 2017 to 4.09% of total orders received, according to the Ecommerce Fraud Index figures released this week by fraud solution vendor Signifyd. Hardest hit were cosmetics and perfume retailers as their fraud rate doubled in 2017 to 5.1% of total...Readmore
Zensed adaptable like Jell-O

Zensed: A Fraud Solution Shaped Like Jell-O

Zensed is an anti-fraud company based in Europe with representation in Sweden, U.K. & the U.S. Its founders operate high risk payment gateways around the globe and originally developed Zensed technology in 2015 to combat their own fraud problems. Victor Fredung is the Sweden-based CEO and co-founder of Zensed. He...Readmore
Funding investment ThetaRay

American Express Invests in 2 Israeli Anti-Fraud Startups

American Express Ventures announced strategic investments in two U.S.-Israeli anti-fraud startups this week. BioCatch, a behavioral biometrics startup, closed a $30 million round of growth funding that was led by Maverick Ventures. Other round investors included not only American Express Ventures but also NexStar Partners, Kreos Capital and OurCrowd, among...Readmore
Machine learning product launch takes off

3 Machine Learning Solutions Launch for Finance, Auto Loans & Groceries

Three separate machine learning fraud solutions targeting credit card issuers, auto loans and online groceries were released last week by Fiserv, PointPredictive and Ocado Technology, respectively. Fiserv teams up with Mastercard Financial services technology provider Fiserv made the biggest buzz when it announced that it had begun offering Mastercard’s Decision Intelligence...Readmore
Magento and airline partnership solutions

Signifyd, ACI Worldwide launch partner solutions for Magento, airlines

Fraud prevention vendor Signifyd announced this week a strategic partnership with Corra, a digital agency serving primarily fashion, beauty and lifestyle brands retailers on the Magento Commerce platform. The partnership is expected to help Signifyd expand its growing list of merchant clients on Magento, particularly among high-end retailers likely to...Readmore
OTA hit by travel fraud

OTA Slammed by $9B in Fraud Costs in 2017

Travel intermediaries lose an estimated $21 billion a year in fraud-related losses, according to a recent report commissioned by eNett, a virtual account number (VAN) provider. Direct losses to travel intermediaries were pegged at $6 billion, while indirect costs including higher operating costs, revenue lost to false positives and reputational...Readmore
pensioners clone fraud losses

Clone Fraud Costs U.K. $280M Per Year

British pension fundholders are losing £200 million ($280 million) a year to "clone fraud," according to government figures published by The Times this week. In some cases, the report stated, individuals' losses exceeded £250,000 ($350,000). "Clone fraud" describes cold-calling scams run by thieves that seek to impersonate legitimate investment funds,...Readmore
investment funding round American Express Ventures

SEON Raises $600K in New Funding

Hungary-based fraud prevention startup SEON announced on Thursday that it had closed a €500,000 ($624,000) funding round with investment from PortfoLion and Fiedler Capital. The company said that intends to use the new funds to expand into new geographical markets and industries. SEON officially launched its out-of-the-box fraud solution in...Readmore
Chinese New Year 2018

Fraud Trends This Chinese New Year

Today marks the start of the Chinese Year of the Dog and the beginning of Lunar Spring Festival that ends on March 2, a festival that is a major gift-giving holiday in China and East Asian markets with large ethnic Chinese populations. For this year’s Chinese New Year about-fraud.com spoke with...Readmore