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ONS reveal UK fraud boom
Posted by Global Risk Technologies™
Over the past few years, there have been an alarming number of incidents related to fraud across the UK. In a recent report published by the Office for National Statistics (ONS), estimated fraud figures were released for the first time, in response to an increasing public demand for more information. Last year alone…
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Black Friday: The new Retail Phenomenon for Merchants
Posted by Global Risk Technologies™
Over the last decade, Black Friday has become known as the busiest shopping day of the year. It is a retail phenomenon, originating from the United States, but has taken off throughout the United Kingdom in the last couple of years. Predictions claim that Black Friday this year on November 27th will…
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Don’t go it alone with fraud and chargeback management
Posted by Global Risk Technologies™
According to a new survey from Javelin Strategy & Research, retailers of digital goods spend up to 20% of their operational budgets on fraud and chargeback management as they struggle to cope with the problem. The report, titled "The Impact of Fraud and Chargeback Management on Operations" considers how companies may be expending financial…
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The True Cost of Fraud for Merchants
Posted by Global Risk Technologies™
LexisNexis has released its annual True Cost of Fraud study, revealing a staggering 94% increase in fraud losses for merchants since 2014. Merchants lost an average of 1.32% to fraud and fraud related costs this year, with mobile commerce and international retailers being hit the hardest. Though investments into fraud protection are being…
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New Visa chargeback regulations to hit in the New Year
Posted by Global Risk Technologies™
Visa has announced a number of updates to its merchant chargeback and fraud monitoring programs, which will all come into effect in the New Year to ensure global consistency across program thresholds, timelines, fees and non-compliance assessments. This uniformity is being introduced in a bid to offer aquirers a more efficient means of…
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