Kount Blog
Blog Against Fraud

On the Hunt for ‘Easter Eggs’ in Fraudulent Transactions

Posted on Thursday, April 13, 2017

Easter is right around the corner, and with the holiday comes bunnies, candy, and of course, Easter eggs. We’re not talking about the kinds filled with caramel, stuffed with prizes, or dyed in pastel colors, but the ‘hidden messages’ or warning signs that merchants can look for within transactions that may indicate a sign of fraud.

Like the Easter bunny, fraud can hop in and out quickly, but leave a trail of Easter eggs in their wake. Read on for common signs of suspicious activity.

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Topics: fraudulent transactions, easter, fraud system, easter eggs

The Surprising Costs of Data Security in Fraud Prevention

Posted on Wednesday, April 12, 2017

When building an in-house anti-fraud system, there are a number of costs to consider. A couple that can be overlooked involve the areas of data security and PCI compliance.

Many businesses adequately plan for the costs of the underlying IT infrastructure and equipment on which the anti-fraud software and technologies run, as well as the people required to support and operate that infrastructure.

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Topics: fraud prevention, PCI compliance, data security

Tax Season 2017: Fraud Down, But Not Out

Posted on Tuesday, April 11, 2017

It’s peak Tax Season as April 18th is fast approaching and tax preparers – professional and amateurs-alike – are rushing furiously to file. And while it’s been a notorious target for fraudsters, the IRS has actually been cracking down on tax return fraud with new technologies.

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Topics: IRS, tax season, tax fraud

Entrepreneurship Is In Our Roots

Posted on Friday, April 7, 2017

The spirit of entrepreneurship is alive and kicking in the Utah Region — and we couldn’t be happier to be a part of all the action! Our CEO Brad Wiskirchen was recently announced as a finalist in EY’s Entrepreneur Of The Year 2017 Utah Region Awards program.

As the world’s most prestigious business award for entrepreneurs, Entrepreneur     Of The Year has been at the forefront of identifying game‐changing business leaders for more than three decades. The program has honored the inspirational leadership of such entrepreneurs as Howard Schultz of Starbucks Coffee Company, John Mackey of Whole
Foods Market Inc., Pierre Omidyar of eBay, Inc., Reid Hoffman and Jeff Weiner of LinkedIn Corporation and Mindy Grossman of HSN, Inc. We’re honored to have Brad recognized among so many other notable business luminaries in the Utah Region.

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Topics: entrepreneur of the year, entrepreneur, ernst and young

In The Kitchen With Fraud

Posted on Thursday, April 6, 2017

By: Josh Johnston, Data Scientist at Kount

When I want to spend all day watching something cook, I usually smoke a pork shoulder or nice rack of ribs. I don’t have the patience to watch bread rise. I do make a ridiculous falafel with tzatziki, though, which demands a quality flatbread. 

My flatbread recipe uses 3 cups of flour. There are a few billion grains of flour in those three cups. That’s how many transactions there are in the database we use to train our classifiers at Kount. My recipe also uses 1 tsp of salt. The mixture is 0.7% salt by volume. That’s about the chargeback rate many of our customers experience before they come to Kount. If we pretend the grains are the same size, we can imagine the grains of flour are good transactions and the grains of salt are bad ones.

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Topics: artificial intelligence, fraud, flour, salt

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