‘When is my tax return coming?’ It’s a common question this time of year. For some, the return never comes, and it’s the beginning of a long and painful headache called tax fraud. Tax fraud victims, in most cases, usually don’t realize they have been swindled until after – sometimes long after – the crime…
Category: Fraud Prevention
A Case of Merchant Account Fraud We Could Barely Believe
Recently we read a news piece on Pymnts.com how imposter scams are on the rise, so much so that instances of such have surged ahead of identity theft, according to the Federal Trade Commission. It was mindful of a case of merchant account fraud we experienced a few weeks ago. Being a provider of merchant…
What Merchants Need to Know About Pharming
Roughly one year ago, I had read an excellent article about transaction laundering, the use of legitimate-looking websites to peddle illegal or illicit goods. I searched for more material on the subject, and before I knew it, I was writing my own for The Green Sheet, a payments industry magazine to which I contribute. Sometimes…
E-Commerce Fraud Prevention: Who is Taking it Seriously?
The occurrence of data breaches increased by 40 percent from 2015 to 2016 according to a joint study from the Identity Theft Resource Center and CyberScout. How that figure will read this time next year is unknown. What is known is that this is the standard in which consumers shop and merchants safeguard their businesses.…
A Reminder for 2017: Credit Card Fraud is Alive and Well
We’re not big on New Year’s resolutions here, but there are a few things e-commerce merchants might want to take under consideration, if not already, for 2017 regarding credit card fraud. It’s going to get worse. As a reminder, with the U.S. migrating from credit cards with the magnetic stripe to those with the microchip,…
How We Defend Ourselves From Phishing Attacks
Last Tuesday, to our surprise, we received an email from Janet Yellen, the Chair of the Board of Governors of the U.S. Federal Reserve. Why was she contacting Instabill? To inform us that ‘our hour of compensation and actualization has come’ and, after her meeting with the U.N., Bank of America, South African Reserve Bank…
5 Ways 3D Secure 2.0 is a Shadow of its Original Self
3D Secure 2.0 is going to make merchants rethink their checkout process. Some time ago on one of our satellite websites, we appealed to merchants to think about utilizing 3D Secure to combat e-commerce fraud. It was a big ask – 3D Secure was considered a disruptor, an invitation to checkout abandonment. That has all…
Visa Chargeback Monitoring Program Has a New Twist
There is a new twist to the Visa Chargeback Monitoring Program. It is mindful of a scene in the 1978 film Animal House, where Faber College Dean Vernon Wormer is plotting with do-gooder Greg Marmalard to do away with the Delta fraternity. Marmalard: But Delta’s already on probation sir. Wormer: They are? Well as of…
’Tis the Season: Know These Friendly Fraud Signs
Chargebacks and friendly fraud know no season. They happen year-round and are a perpetual issue for e-commerce merchants. But come the holidays, they increase significantly. For e-commerce merchants, this is the time to fight back. Merchants who can identify the signs of friendly fraud and curb chargebacks over the holidays can set the tone for…
How Does Frank Abagnale Protect Himself From Identity Theft?
There is a case of identity theft every two seconds in the U.S., said fraud expert Frank Abagnale. There were 60 billion cases in the last 12 months alone. Mr. Abagnale outlined instances of how an individual’s personal information is at risk, and there were many: The office manager at your doctor’s office that scans…