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Industry News

MasterCard is supporting businesses by helping delay or defer billing disputes related to COVID-19

MasterCard is helping companies impacted by the pandemic by cutting down, or even bypassing, the chargeback process. MasterCard will use its technology to give banks and credit unions the ability to share near-real time alerts about disputed transactions.

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Visa’s new COVID-19 Issuer Dispute Monitoring Program is effective as of April 1

Visa is modifying its programs to reduce the burden on its clients and merchants directly impacted by the pandemic.

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FBI warns that uncertainty surrounding the COVID-19 pandemic is leading to fraud and scams

Business email compromise (BEC) is a scam that targets anyone who performs legitimate funds transfers. Recently, there has been an increase in BEC fraud targeting municipalities purchasing personal protective equipment or other supplies needed in the fight against COVID-19.

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Weekly eCommerce
and Fraud Tracker

The current global situation and the impact of coronavirus has introduced major shifts in eCommerce and fraud. Kount is tracking the data:

eCommerce Trends:

403%
  • Purchases of wine as well as crafts skyrocket as consumers buy supplies to make CDC-recommended face masks
  • Expedited shipping is beginning to come down after a spike of a 183% increase

Fraud Trends:

Retailers need to watch for resellers, retail arbitrage, cashing out, and friendly fraud.

  • With products like hand sanitizer being in high demand (up 1244% in March), retailers need to watch for resellers

Read more

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Kount Updates
and News

Leaders in Payments Podcast: An Interview with Brad Wiskirchen

Kount CEO Brad Wiskirchen sat down with Greg Myers of the Leaders In Payments Podcast to talk payments, fraud prevention, the current global situation, the Identity Trust Global Network, and Brad’s advice.

Take a listen

Gartner’s Sr. Fraud Analyst, Jonathan Care, to speak at Kount’s Digital Protection Summit on April 16

This is a rare opportunity to hear from a top analyst at a leading global research and advisory firm. Care’s expertise includes today’s fraud prevention trends, the convergence of cybersecurity, fraud prevention and customer experience, and the rise of account takeovers.

The virtual summit will address current insight into today’s changing fraud trends and how increases in digital eCommerce are generating increases in fraud.

Register now

Kount and Aite Group hosted a webinar: How to Stop the Fast-Moving Target of Account Takeover with Adaptive Protection.

Account takeover (ATO) fraud is evolving rapidly. Its impact on businesses extends beyond financial loss to poor customer experiences that cause long-term brand reputation damage. In this webinar, experts shared insights on the shifting tactics of ATO fraud, the elements of adaptive ATO fraud protection, and how to adapt friction levels to deliver desired customer experiences in real-time.

Listen to the recording

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