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Displaying 1 - 10 of 129 Payments Risk Management blog posts

  • memorial day weekend fraud scams

    Slam the Brakes on Gas Pump Fraud and Rental Car Scams This Memorial Day Weekend

    Monday, May 21, 2018

    The process of secretly reading data off credit and debit cards (aka skimming) could be netting criminals as much as $3 billion a year in the US, according to

    As we look forward to Memorial Day weekend here in the U.S., travelers are getting ready for road trips to their favorite destinations. Whether it’s a beach party in Miami, snorkeling in Catalina Island, or even a staycation, payments – and more specifically, payment fraud – is a huge consideration for travelers, especially during the holiday weekend. I sat down with one of our payments fraud experts, Seth Ruden, to talk about what travelers must look out for regarding payment fraud and how they can keep their money safe. Here’s what he told me.

  • Artificial Intelligence and Fraud Management

    Despite the Hype, Machine Learning, Models, Behavioral Profiling and the Customer Experience are Still Fundamental

    Tuesday, May 08, 2018

    Think about the last time you got a fraud decline. Where were you? In the grocery store? Buying airline tickets? On holiday? Shopping in the same place you’ve been a dozen times, but across the border? How frustrating was that, what did it do to your perspective, your mood, your confidence in your financial institution? This can be embarrassing and inconvenient, stressful and alarming for the consumer. There are few things that can be more disruptive in our day-to-day lives then the lack of access to your funds, or the care taken by your financial institution after a fraud occurs. According to ACI’s Global Consumer Fraud Survey, 20% of people may decide this is too much and move along to another financial institution.

  • International eCommerce fraud perspective

    Cross-Border eCommerce Expansion: A Fraud Perspective

    Monday, April 30, 2018

    For merchants that are expanding their online presence overseas, enabling the right locally-preferred alternative payment methods and connecting to local acquirers can be a critical determinant of success. But without considering fraud management strategy in tandem with payments strategy, the road to cross-border success could be a bumpy (not to mention costly) one.

  • 12 threats to payments

    The 12 Biggest Security Threats to Payments

    Thursday, April 26, 2018

    Consumers ask a lot of you in terms of convenience, speed and, above all, security. This puts the pressure on you to offer a pain-free consumer experience that is also highly secure. And when you accept payments, you need to secure all parts of your organization. Here’s an actual example: one major breach occurred when an air conditioning vendor was hacked, allowing hackers to access the corporate network and finally the point of sale network. This highlights the importance of understanding the threat landscape we face today.

  • fraud awareness month

    Fraud Awareness Month Canada – Return of the Lost and Stolen (and Authenticating Wearables in Canada)

    Monday, March 26, 2018

    A couple years ago, I penned a blog post to commend the Canadians on what made their culture so resilient to fraud that it developed the lowest fraud rates in the Northern Hemisphere. It got a bit of circulation and created significant positive feedback. This time, I would like to bring awareness back to Canada about a potential threat as it relates to the increasingly popular Tap payment channel.

  • Getting ahead of fraud in Australia

    Securely Growing Online Sales in 2018: An Australian Perspective

    Monday, February 26, 2018

    Back in November 2017, I participated in a panel discussion for NORA (National Online Retail Association), where I looked at fraud trends in Australia over the previous holiday shopping season and made predictions to help retailers prepare. Now looking back, I am sorry to say that my predictions were painfully accurate.

  • private cloud security

    When Is Processing Payments in The Cloud More Secure?

    Wednesday, January 17, 2018

    Back when I started my career, “Jessie’s Girl” by Australian rocker Rick Springfield topped the charts, the federal funds rate was 20 percent and most organizations were reliant upon one or more mainframe computers that were hosted in an internal “computer room.”

  • cybersecurity threats

    More Than Half: The Story of Cyber-Attacks and Global Organizations in 2017

    Friday, January 12, 2018

    Three words. It might not seem enough to cause a rethink of your 2018 cyber-security strategy, but it should. Why? Because according to the latest Forrester report, “Top Cybersecurity Threats for Retailers in 2018,” attackers breached more than half of all global enterprises in 2017.

    More. Than. Half.

  • Changing seasons of payments security regulation

    The Seasons Are Changing (And So Are Fraud and Regulations)

    Monday, November 13, 2017

    If you smell the air, you can sense the seasons changing; a little crispy cold moving in suddenly, the leaves are reddening and the winds of Faster Payments and PSD2 are kicking up. Smooth transition, right? So, yeah, seasons change, and so do regulatory regimes. In the US, we’ve been largely left to our own discretions about how to run our fraud shops, with some regulatory oversight regarding disputes handling. Historically, financial institution processes around authentication and fraud monitoring (including analytics and strategy) could be anything or nothing, depending on an institution’s risk appetite. Like the seasons, this might be in transition.

  • Lessons from data breaches

    Learning Lessons From Large Scale Breaches

    Wednesday, September 20, 2017

    At this point, there’s no ignoring it: our financial security is compromised daily. And no doubt, many reading this wouldn’t hesitate to recount all the breaches they have been a part of as consumers; merchant breaches in which replacement cards forced you to update your linked accounts, or data compromises where personal information was stolen and identity theft protection was provided, forcing you to consider freezing new credit originations.