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In the fraud community, many still see digital identity resolution primarily as a way to reveal and block the bad actors behind fraud and policy abuse. But the true power of understanding digital identities goes well beyond that. Used to its fullest, identity resolution provides a way to not only combat fraud and policy abuse, … Continued
The travel and hospitality industries swelled post-pandemic, driven by “revenge travel,” Taylor Swift concerts, or both. But with the surge of demand for travel came an inevitable surge in fraud, with bad actors targeting everything from loyalty accounts to illicit booking offerings and more. We chatted with Paul van Alfen, Managing Director of Up in … Continued
In recent years, the global electronics market has grown exponentially based on technological advancements, shifting consumer preferences, and a growing desire for cost-effective, easy-to-use and high-performing products. This expansion has led to a rise in the distribution of fraudulent electronic goods, posing significant risks to ecommerce merchants. According to an analysis of Riskified data, 2023 … 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
How do you solve a 2024 problem with 2019 tools and resources? Sadly, that’s the reality facing merchants today when it comes to chargebacks. Global chargeback volume has soared in the last five years and is set to reach $165 billion in 2024, compared to about $72 billion pre-pandemic in 2019. While rates have risen, … 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
No online merchant will be surprised to hear chargebacks are rising. In the last year alone, more than three out of four customers in the United Kingdom and United States filed a chargeback — an all-time high. The global volume of chargebacks is expected to reach $165B in 2024. During the COVID pandemic, chargebacks became … 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
