Kount Blog | fraud prevention
Blog Against Fraud

Diamonds are a Fraudster’s Best Friend

Posted on Tuesday, September 19, 2017

The qualities that make diamonds "a girl's best friend" are the same qualities that make them (and other jewelry and luxury items) attractive to fraudsters.

  • Diamonds are high-value, highly-desired goods.
  • Diamonds don’t lose their value over time (in fact, they may even increase in value).

And even more important to fraudsters:

  • Diamonds store tremendous value in a small footprint, making them easy to warehouse (e.g., a $5,000 diamond ring takes up 2 inches of space, much less than a $5,000 4K Ultra HD 75-inch TV).
  • They can be easily turned into cash without significant discounting from the retail price.
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Topics: fraud prevention, diamonds, online jewelers

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

A False Positive Walks Up to the Register

Posted on Friday, September 1, 2017

Though this may open like a joke, the ending is less than hilarious. Let’s talk about false positives, and the negatives they create for your business. 

Just having a fraud prevention strategy to begin with is such a step in the right direction that merchants may be reluctant to examine a widespread dirty little secret— false positives that turn customers away and hurt merchants’ bottom lines by automatically rejecting legitimate transactions.

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Topics: fraud prevention, false positive

A Monster Named “TC-40”

Posted on Monday, August 21, 2017

Online businesses with small average ticket totals may be unaware of a monstrous—but mostly unknown—fraud problem until it is too late. Potential victims include:

    • Online game or gaming sites
    • Quick-service restaurants (QSR’s)
    • Music and entertainment sellers
    • Digital goods merchants
    • Nonprofits

Worst of all, this issue could lead to significant fines or even customers being unable to purchase on your website.

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Topics: fraud prevention, tc-40

Why Fraud Prevention Downtime is Costly

Posted on Friday, July 14, 2017

99% uptime sounds pretty good, right? But if you take a moment to calculate what that means, you’re looking at more than seven hours of downtime a month. That’s nearly an entire workday, every month.

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Topics: fraud prevention, downtime

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