The Explosion of Fraud via Zelle, Venmo, and PayPal, and Why Fraud Losses Are Growing
Krista Tedder of Javelin Strategy says that criminals are working smarter – not harder – to commit a fewer number of fraudulent acts that yield higher funds. In a recent video interview, Tedder gives highlights from Javelin’s new report on identity fraud and account takeover.
Password-Spraying – Tool of Choice for Stealing Research Data
Authorities in the U.S. and U.K. are warning medical institutions, pharmaceutical companies, and universities that Advanced Persistent Threat Groups are using password spraying campaigns to steal COVID-19 research data in order to collect intellectual property, and intelligence that aligns with their national priorities.
Coronavirus Bailout Cash is a Big Target for Fraud
With such a large package of money being issued so quickly, the potential for scams and misuse runs rampant. Even a 1% loss to fraud represents $72 billion lost.
and Fraud Tracker
Kount tracks the impact of coronavirus on consumer spending habits.
For families at home, “ordering in” is replacing “going out.” Major quick service restaurants saw eCommerce transactions recover from a short dip in March, and food service volume is up 29% from the average week in February.
This week’s trends reveal:
- Crafts & Wine transaction volume dipped slightly after 8 weeks of growth
- Wellness & Vitamin sales rose to their second highest volume week
- Sporting Goods sales were up 462% vs April 2019
Kount’s Rich Stuppy Discusses “Identity” in a Tech Talks Daily Podcast
The Identity Trust Global Network can personalize customer experiences while weighing the risk of fraud, according to Stuppy. Kount Control is leveraging technology to help retailers and banks create targeted and focused interactions with their customers.
Securing the Growing Digital Opportunity
Gary Sevounts, Kount’s CMO, is featured in a PYMTS article that discusses how consumers and businesses have reoriented themselves around digital. Amid COVID-19, fraud is responding in real time, which means the tools to fight fraud have to be able to evolve just as fast, if not faster.
2020 Paladin Vendor Report Features Kount
Kount’s fraud prevention solution is featured in the 2020 Paladin Vendor Report.
Kount Teams with Barclaycard Business for a Webinar
The event will discuss current regulations, and how the pandemic has impacted fraud and eCommerce. Register for the event: Tuesday, May 12, 8:00 a.m. MT.