Transaction Laundering: The Reasons Why Fraudsters Do It

Transaction Laundering: The Reasons Why Fraudsters Do It

For payment service providers, knowing why transaction laundering occurs is important to stopping it. We feel there are three reasons fraudsters turn to transaction laundering: To sell illicit and/or illegal goods, such as drugs To get better rates, both credit card acceptance and processing To lure consumer credit card data As we’re days from holiday…

How an E-Mail Address Can Indicate Credit Card Fraud

How an E-Mail Address Can Indicate Credit Card Fraud

It’s no secret that online merchants are in a perpetual battle in mitigating credit card fraud. Rates of fraud are escalating because it is a fast-earning, largely anonymous, easy crime to commit. In fact, there are cybercrime ‘businesses’ and hacking groups all over the world, particularly in the eastern Europe and Asia regions, whose missions…

False positive declines are more damaging than chargebacks

False positive declines are more damaging than chargebacks

For all of our e-commerce merchant partners, we’re posing a question: What is worse, suffering chargebacks or false positive declines? According to a recent study by the Vesta Corporation and Javelin Strategy & Research, the answer might surprise you: It’s the latter. The fear of suffering fraud is higher than ever. Online merchants have set…

Cyber Threat Intelligence Sharing: Tell Your Story for Others

Cyber Threat Intelligence Sharing: Tell Your Story for Others

Merchants have a tool for fighting fraud and most may not even know it: we call it cyber threat intelligence sharing, a fancy title for sharing your story of a recent cyber attack you may have suffered or prevented. Obviously, there is a war in progress between e-commerce merchants and hackers, especially small business merchants,…