Fraud Prevention
Air travel and events ticketing are both lucrative segments for fraudsters and can be risky for merchants. According to analysis by Riskified data analyst, Yael Hemo, and senior data analyst, Lev Gal, flight bookings in 2024 were +14% riskier compared to the previous year. Senior data analyst Adi Dick-Charnilas found that the events ticket industry … Continued
For seasoned retailers, it might feel that the all-important holiday shopping season comes around sooner every year. As merchants worldwide gear up for the surge in sales that Black Friday and the holiday season brings, the urgency to maximize sales needs to be coupled with an urgency to mitigate losses. Sadly, booming sales also signal … Continued
For every type of fraud, there is a season. Gift card fraud, for example, rises around Mother’s Day, Valentine’s Day, and Christmas. Ecommerce fraud teams face a holiday hangover of chargebacks after the end-of-year gift-giving season. And policy abuse — including refund and returns, reseller, as well as promo and coupon fraud — tends to … Continued
It’s easy to understand why everybody loves gift cards, especially the digital kind. So you won’t find it surprising that the number of card purchases and payments Riskified processed from merchants in 2023 was almost double the number processed in 2021. Unfortunately, the “everybody” who loves gift cards includes fraudsters. As liquid as cash, ill-gotten … Continued
Let’s face it: Chargebacks can be an operational nightmare for ecommerce, stemming from the increasing complexity of customer shopping habits and the pandemic-related surge in online sales. Not only do you face the challenge of processing high volume, but you also deal with compiling compelling evidence from widely disparate systems — it’s an impossible situation … Continued
Here’s a story about Chris, an honest consumer buying his partner a gift on your ecommerce site. Chris fills his cart and clicks to complete the purchase. Then, the unexpected happens. Chris’s card issuer refuses to authorize the transaction. Maybe Chris was shopping while on an overseas trip, the gift he chose was unusually pricy, … Continued
Fraud managers and analysts know how much work it can take to win a chargeback dispute. In addition to curating evidence, analysts spend their time manually consolidating and organizing data, divvying up work, formatting and submitting evidence, and tracking status. And when you want to track overall program performance, there’s more manual work ahead of … Continued
Across the ecommerce organization, from marketers to webmasters, the post-holiday period brings high-fives and sweet relief. Everyone gets to recover a bit after the insanity of the Q4 shopping season. Everyone except for fraud managers, that is. In the fraud prevention world, insanity season is just beginning. There’s a deluge of returns and the potential … Continued
This content was paid for and produced by Riskified in partnership with the Commercial Department of the Financial Times. Minimizing risk exposure is a core responsibility for CFOs in any organization. In ecommerce, the danger of a major fraud attack is always lurking, creating not only a constant threat of catastrophic losses, but also an … Continued
