Kount Blog
Blog Against Fraud

6 Visible and Hidden Costs of eGift Card Fraud

Posted on Thursday, September 14, 2017

eGift cards are easy to buy and easy to give, which explains their skyrocketing popularity. In fact, digital gift cards are the fastest growing segment in the $127 billion gift card industry, with $14 billion in sales projected for this year. Perhaps that’s also why 8 out of 10 of the top Internet retailers offer them.

Unfortunately, these same attributes make eGift cards and stored value cards prime targets for card-not-present (CNP) fraud.

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Topics: fraud, egift card

Football Season Kicks Off and So Does Online Ticketing Fraud

Posted on Wednesday, September 13, 2017

The college and pro football seasons have kicked off. And to paraphrase the famous jingle: “Are you ready for some fraudsters?!”   

The incentives for fraudsters to steal and resell tickets online are lucrative and growing. The average ticket price for a professional football game in 2017 ranges from a low of $131 to a high of $618, according to TicketIQ's Blog. And those are just the published prices. Think about the higher costs that sellers in online ticketing marketplaces can command for in-demand games.

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Topics: online ticketing, tickets, football

Everyth1ng Y0u Kn0w Ab0ut P@ssw0rds 1s Wr0ng

Posted on Tuesday, September 12, 2017

The near-continuous revelations of data breaches bring into sharp relief a small but critical way that weak passwords can turn weaponized data from breaches into an even more dangerous attack tool:

More than 80% of adults reuse the same password across multiple accounts.

And that means that once hackers get their hands on weaponized data, they can run through account after account after account, seeking to exploit this common vulnerability.

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Topics: passwords, weaponized data

The Two Biggest Obstacles to mCommerce Adoption Are NOT Fraud or Security

Posted on Monday, September 11, 2017

In light of the mobile fraud statistics below, you might think online businesses would be especially fearful of fraud risk in the rapidly-growing mobile channel.

  • 60% of fraudulent transactions originate from a mobile device, based on research from RSA.
  • The fraud rate for mobile commerce is twice as high as for conventional eCommerce, according to The Fraud Practice.
  • $2.33 in costs for every $1 in fraudulent mobile transactions, per LexisNexis estimates of the “true cost” of mobile fraud.
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Topics: mobile commerce, fraud prevention

What’s Worse than Coal in your Stocking? High Holiday Fraud & Chargeback Rates

Posted on Friday, September 8, 2017

A new report from eMarketer shows that sales for the 2017 holiday season are expected to increase 15.8 percent from last year. We know from our recent survey that retailers are already behind when it comes to fully protecting their mobile offerings. Factor in the additional negative effects of post-holiday season chargebacks, and the stage is set for merchants to be as disappointed as a child with a lump of coal. 

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Topics: chargeback, holiday fraud

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