The Fraud Prevention Industry Benchmarks Survey was focused specifically on merchants doing business in the Card or Customer Not Present (CNP) channel. This study was designed to gain insights and information for comparison of key performance indicators (KPIs) such as manual review rates, chargeback rates, false positive rates and other metrics across different types of merchants, while the analysis report is intended to serve as an industry resource and point-of-reference for organizations looking to benchmark and compare the performance of their fraud prevention strategy against others in their vertical.

Scott Adams has been at the front lines fighting fraud in the world of online games as former Vice-Chair Merchant Board at Payments Ed Forum, and former Director of Fraud and Risk Management at Riot Games. For nearly four years, he led his group to greatly reduce fraud and increase account security for the millions of people who play League of Legends worldwide. Scott’s experience and expertise includes Payment Processing, Anti-Fraud/Chargeback Management, and Connecting the Marketing/Business Departments with Customer Service and Information Technology Departments (Cross-Departmental Communications). Kount asked him to share his industry expertise and insights for combating card-not-present (CNP) fraud in the Online Games market.

This report takes a closer look at the threat of friendly fraud, by first explaining the spectrum of friendly fraud and exploring whether merchants and issuers are in fact “training” cardholders to initiate disputes. It also examines the balancing act that merchants and issuers must navigate while trying to reduce friendly fraud, while also preserving important customer relationships. Lastly, it details how two companies are addressing the problem, and then outlines six best practices for controlling the damage.

From the report, “The bottom line is that good customers who transact online are suffering a bad purchasing experience – and this is doubly harmful to both card issuers and merchants. Cardholders may elect to abandon a purchase altogether, seek a different online store to minimize purchase friction, or pull out a different card – sending their go-to card to the back of wallet. This paper explores the size of the problem, explains the destructive impact on customers who are wrongly turned away, delves into why transactions are declined and reveals how the industry currently manages declines from both a card issuer and merchant perspective. Finally, it presents some possible approaches to the problem, including several pilot programs that Ethoca currently has underway with card issuers and merchants.”

This report offers the latest trends and insights into securing digital identities and transactions.

This guide offers helpful insight into online fraud.

From the report, “The report also looks at the trends in the usage by fraudsters of specific methods or directions of attack (e.g. location manipulation, account takeover, etc.). This is to provide insight into the various techniques commonly employed by today’s savvy fraudster. The increased sophistication of the online criminal underworld, where a huge and connected marketplace exists to provide numerous services that make theft easier (and where stolen data can be found easily and cheaply following the massive data breaches of the last few years), means that fraudsters have direct access to the tools and information they need to commit online fraud. This has lowered the barrier to entry for new fraudsters to enter, and enabled experienced fraudsters to increase the scale, sophistication and speed of their attacks. This report is designed to reflect the current patterns in that scene and help merchants to understand further and prepare for the attacks they are seeing or are likely to face.” Read on to find out more.

From the report, “At Feedzai, we recently completed a project: building a machine learning system to perform transaction fraud detection for a global payment service provider. This client does over a million transactions a day. We designed, trained, tested, and compared hundreds of models in just over a month. In the end we achieved a 16 percentage point increase in money recall with 20x fewer alerts. The fact that we’re continuing to deliver on projects of this scale, in this speed, makes me excited for the future. In this paper, I want to discuss why speed of data science matters, why we’re able to achieve it, and why it helps us deliver value for enterprises fighting fraud. ” Read on to find out more.

The Open Banking & API Report 2017 gives insight into the nascent landscape of Open Banking in Europe. Divided into two parts, it aims to give you both the basis of knowledge necessary to understand the latest developments on the topic, as well as practical examples and best practices in Open Banking. First, the report elaborates on the innovations in Open Banking and the issues that still stand in the way of universal adoption. Afterwards, we will dive into the best practices and new business models in both banking and fintech.

From the report, “The widespread digitization of financial services is causing large-scale and sweeping transformations across various facets of the business, creating new growth opportunities but also new challenges and inherent risk. In the insurance sector, particularly, digital transformation is driven by new competitive threats, ongoing cost pressures, aging technology and increasing regulatory requirements. Put all together, there is a huge opportunity to modernize, to create new business models, acquire customers on new channels and create competitive and compelling customer experiences. ” Read on to find out more.

From the report, “Each marketplace has to approve each game being sold, which gives your company credibility. Consumers also have the ability to rate the games with reviews in order to warn others about a game or a developer. Adding the consumer reviews is a layer of credibility for your game, as long as the reviews are positive. Being able to sell games directly online is great for merchants, but also opens them up to the possibility of fraud and chargebacks.” Read on to find out more.

From the report, “Forter and PYMNTS.com have partnered to track, analyze and report on important fraud trends in the world of payments and online commerce. Every quarter, we monitor fraud attempts on U.S. merchant websites to give you the latest insights on what’s going on. (Note: For each of the Indexes in 2016, we’re using 2015’s fraud rates as a benchmark.) Our take-home this quarter: Fraud rates are climbing. They climbed last quarter and are still climbing this quarter. In fact, overall fraud rates have increased by 14 percent from last quarter to this quarter. To find out how fraudsters are doing it and what methods they favor, keep reading.” Read on to find out more.

From the report, “Forter and PYMNTS.com have partnered to track, analyze and report on the important trends happening in the world of fraud as it relates to payments and commerce online. Every quarter, we are monitoring fraud attempts, reflected as a percent of U.S. sales transactions , on U.S. merchant websites. How big is the storm? Where is it? How is it changing? Read on to find out. For each of the Index editions in 2016, we are using the fraud rates observed in 2015 as a benchmark for comparing the state of fraud each quarter.” Read on to find out more.

Forter and PYMNTS.com partnered together to track, analyze and report on the important trends happening in the world of fraud as it relates to payments and commerce online. Every quarter we will monitor how fraud attempts, reflected as a percent of U.S. sales transactions, on U.S. merchant websites are trending. Up? Down? Stable? Time to panic? Hopefully not.

From the report, “Overall, 2016 saw a steady rise in online fraud attack rate, which increased 8.9% over the course of the year. The frightening “tsunami” of fraud attempts that many merchants experienced at the end of 2015 was not repeated, but the moderate rate of increase was sustained. For several industries, primarily apparel, digital goods and travel, 2016 was a year of dramatic fluctuations, affected by numerous fraudsters who were looking for new vulnerabilities they can exploit.” Read on to find out more.

This report offers insight into 6 different fraud profiles in the online world.

From the report, “As such, Forter creates a biannual Fraud Attack Index to highlight these changes as they affect e-commerce and mobile merchants and to provide anti-fraud professionals with the context they need to succeed. This report leverages Forter’s data to examine the trends in online fraud attacks across industries, comparing the different fraud experienced by different verticals. The report also looks at the prevalence of specific fraud methods or directions of attack (e.g. location manipulation, botnets, etc.). This is to provide insights into the various techniques commonly employed by today’s cunning fraudsters.” Read on to find out more.

In this paper the CTO of Feedzai writes about several of the misconceptions related to organizations leveraging in-house resources to create their own machine learning system for risk. He discusses the lack of success surrounding those decisions.

From the report, “This report shares Feedzai’s original research. We found that fraudsters are attacking in methods that are faster and faster – and continuously new. The time horizon for the future of fraud has been shrinking. Today, the time horizon has shrunk to now. What does this new now look like?” Read on to find out more.

This very thorough report offers insight into how criminals take advantage of technology. It also reports on how breakthrough technologies can help financial institutions achieve better results with fewer staff.

From the report, “The advent of big data happened to coincide with the advent of better computing, better algorithms, and new AI-focused organizations, allowing us to take this data and turn it into something even better: meaning. This brings us to machine learning. Later in this guide, we’ll look at how machine learning works and how it can work for you. But first, let’s take a closer look at all the ingredients that got us here.” Read on to learn more.