How Companies Get Identity Validation Right
The dangers of phony IDs and the many fraudulent schemes that depend on them loom across all industries. Mitigating such risks is crucial for organizations in which regulatory compliance hinges on identity validation. And, considering the rising prevalence of credit card fraud in the US and abroad, with cases increasing by nearly a third in […]
Credit Card Chargeback Laws: What You Need To Know
Commercial businesses are always vulnerable to break-ins and thefts. However, some sectors, such as retailers, are more susceptible to less obvious forms of theft, such as credit card chargeback fraud. Chargeback, also known as “friendly fraud,” occurs when a cardholder disputes a financial transaction and gets the payment reversed by their bank instead of contacting […]
How to Navigate Through Chargeback Insurance Options
Chargebacks occur when a buyer requests a reversal of a credit card payment that is issued from the bank. This was created as a way to protect consumers from merchant scams but has since evolved into a way for individuals to commit what is commonly known as “friendly fraud.” Friendly fraud occurs when a consumer […]
Mobile Identity Verification: What You Need To Know
Mobile identity verification is not new technology, but the lockdown has made a viable verification system more critical than ever. With so many customers conducting their banking from mobile devices, the risk of application fraud has never been higher. Fraudsters can use personal information to open a bank account under someone else’s name or use […]
5 Fraud Risk Management Solutions You Need
Fraud risk is the likelihood of an organization or business being subject to fraudulent activity. Banks and retailers use several methods to prevent fraudulent activities. To mitigate any fraud risks and be AML compliant, you need a fraud prevention team to stop cybercriminals from accessing your system and data. This fraud prevention team is responsible […]
Person not Present: How to Prevent Fraud
It’s no surprise that society is shifting from in-person activities to online transactions. Especially given the impact of the COVID-19 pandemic changing the way we interact. From retail shopping to school classes, every niche involving in-person activity has felt the impact of the COVID-19 pandemic. As businesses have adapted, the remote environment looks like it […]
Mobile Face Recognition: Why Just Scanning an ID Virtually Isn’t Enough
What Is Mobile Facial Recognition? Facial recognition uses your face to unlock a device without needing to press any buttons or enter any information. It analyzes various parts of your face, including your eyes placement and nose width, and then combines and converts them into a unique code to authenticate your identity. This is designed […]
