Fraud

Retail shrinkage accounts for $94.5 billion in losses annually for the U.S. retail industry. However, it's not the only theft the sector needs to worry about. The 2024 Verizon DBIR found that credentials are the most frequently breached data in the retail industry. Cybercriminals continue to focus on stealing credentials due to the ease of obtaining them and because password…

If you're only now considering methods to reduce the growing rates of self-checkout (SCO) fraud and theft, you might already be two steps behind. According to the 2023 National Retail Security Survey Report sponsored by Appriss Retail, National Retail Federation (NRF), and Loss Prevention Research Council (LPRC), 68 percent of retailers said external theft was…

Fraud is a costly reality and a challenge to tamp down in today’s omnichannel retail environment. In 2023, the retail industry experienced the largest percentage (8.7 percent) of suspected fraudulent digital transactions globally, a 21 percent increase over the previous year, and 34 percent growth in suspected digital fraud volume year-over-year according to TransUnion’s 2024…

Go to any retail store and the associates likely have some spooky stories to tell when it comes to returns fraud and abuse. For instance, imagine a box arrives for a returned computer and all that’s inside is a heap of heavy rocks. Unfortunately, fraudsters and organized retail crime (ORC) groups are only getting craftier…

If the ShinyHunter’s breach is confirmed and Ticketmaster’s data is ultimately distributed, online fraud attacks will almost certainly increase. For consumers, the feeling you experience when learning your personal data was stolen during a data breach is often just the start. Data breaches more often than not lead to additional fraud. Depending on the type…

The dark web is the equivalent of the group chat where e-commerce retailers know they’re being talked about but definitely aren’t included. With endless information existing on how to abuse retailer terms and conditions, steal personal data, and more, the dark web has fostered an environment where fraudsters feel comfortable expressing their views and freely…

The pandemic accelerated a massive rise in e-commerce, and with that, retailers have experienced a significant uptick in returns — reaching $743 billion in the U.S. last year alone. This sea change has contributed to both increased costs for retailers and a new era of returns behaviors from shoppers. Many retailers are facing shopper habits…

Mastercard’s latest salvo in the battle against first-party fraud is the First Party Trust program, a savvy tool aimed at what’s often called “friendly fraud” or first party misuse. This type of fraud, where customers claim legitimate charges are fraudulent, is not just a thorn in the side of merchants — it’s a hefty burden…

Over the last few years, there has been great momentum in the discussion about the current and potential impact of generative artificial intelligence (AI). Much like streaming providers during the pandemic or shovel salesmen during the gold rush, companies that supply the power behind AI applications have seen their valuations skyrocket. However, in the finance…

In the retail and e-commerce landscape, the surge of synthetic shoppers poses a challenge for retailers. In fact, 50 percent of businesses have reported growth in synthetic identity fraud (SIF), according to AuthenticID’s 2024 State of Identity Fraud Report. SIF — when individuals use stolen personal information, such as Social Security numbers, to create fake…