Vesta, an “end-to-end transaction guarantee platform” that is used for online purchases, has unveiled its first Global Card-Not-Present (CNP) Fraud Report. They analyzed millions of digital transactions between the first quarter of 2020 to the first quarter of 2021. A CNP transaction takes place when a sale happens without the customer physically presenting their card to the merchant. If the...
Businesses are well aware of the devastation that account takeovers (ATO) can leave behind in their wake. But is awareness enough? Arkose Labs, an online fraud and abuse protection tech provider, revealed some telling findings in their study on how exactly businesses are handling this threat. This study included the participation of more than 100 IT executives of U.S. companies...
The European Banking Authority or (EBA) has had its email servers jeopardized in what is believed to be a “global Microsoft Exchange cyber-attack.” The EU organization revealed that personal information may have been retrieved from its servers. As a safety measure, it has since pulled its entire email system offline as it investigates the damage. Part of its investigation is...
Interchange and fee changes are placed on hold to help the digital payments industry. Due to the massive disruptions of businesses caused by the COVID-19 pandemic, Visa made the announcement that they will delay the increase in credit card “swipe fees” until the following year, in April 2021. However, it will continue to move forward with its efforts to lower...
Merchant accounts face great vulnerability as fraudsters engage in ATO. A survey released by Riskified, a payments and fraud solutions provider, revealed an eye-opening revelation on the devastating effects of ATO’s or Account Takeover attacks on both customers and eCommerce business owners alike. An ATO occurs when a fraudster successfully gains access to a customer’s stored account information within an...
If you are looking for a comprehensive fraud solution, look no further than EMB. Credit card fraud continues to plague merchants and customers alike. As criminals are becoming more sophisticated and innovative with their tactics of stealing financial information for unauthorized transactions, more has to be done to thwart their efforts. With the introduction of EMV credit cards, brick and...
If you are in business for yourself, it is imperative to have a way for your customers to pay you for your goods and services. Choosing a reputable credit card processor positions you to accept both credit and debit card payments either online or at point of purchase. As more and more consumers opt for carrying more plastic than cash,...
As a business, your ability to act in your customers’ interests is paramount for return business. Obviously, the first level of this is to provide honest, dependable and high-level services or products. But, in today’s world of growing fraud, that isn’t enough. It seems almost like every other day there is a data breach attached to a big name business....
Equifax Inc. must pay victims of its breach in 2017 at least $575. Mostly, this must be done in the form of free credit monitoring. This was the very breach, because of which the sensitive data of about 150 million people was hacked. To know the latest developments concerning the Equifax breach and discover the right processor to accept payments...
You might have heard about the New Jersey bank that handled $20 million for a firm connected with a Venezuelan laundering scheme, mightn’t you? If you’re interested in more details concerning the case and are looking for a reliable payment processing company, you’re at the right place: just keep on reading this article. Venezuelan Laundering Scheme First of all, let’s...
