Of the 800 online merchants that responded to the Mobile Payments & Fraud: 2017 Report, 64% said that currently they get at least 10% of their revenue from the mobile channel. Two years from now, 80% of those merchants project that mobile will account for at least 10% of their sales. Further, in two years, mobile will make up at least half of all sales for more than 2.5x as many online businesses as it does today (26% of merchants in two years vs. 10% today).Read More
The actual rate of online fraud in the USA is less than 1%. Meanwhile, the decline rate is about 2.8% of domestic orders and 7.6% of international orders (the decline rate involves orders that are turned down due to suspicion of fraud).
The delta between the actual fraud rate and decline rate means that for every fraudulent order, merchants are turning away approximately 2x as many US orders as they should (out of fear of getting scammed) and more than 7x as many foreign orders as they should.Read More
How far will fraudsters go to steal information?
Forget phishing. Now there’s an insidious new tactic: FRAUDSTER chatbots! Before we examine this perverse technique, here’s a brief primer on legitimate chatbots.Read More
We may have used this analogy before on the Kount Blog, and we’ll call upon it again because it’s true: fighting fraud is like fighting the many-headed hydra—when you shut down one criminal element, another pops up in its place. Furthermore, it’s pretty difficult to cut any monster head off in the first place, a feat that requires herculean fraud prevention efforts.
A recent piece of news concerning the dark web illustrates this point.Read More
In 2015, auto thieves boosted a car about every 45 seconds, according to statistics released by the FBI. In all, more than 700,000 vehicles went missing totaling $4.9 billion in losses.
The good news is that auto theft has actually been dropping year over year, largely due to advances in onboard security technology. The bad news is that fraud-based online theft in the automotive and powersports industry is becoming easier by the day.Read More