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Card cycling damages brands – even if it doesn’t happen in your environment

When fraudsters find websites where they can run a batch of credit cards to see which are valid, it costs you more than a sale. The long-term effects can damage your reputation with customers and issuers.Credit card cycling is a sneaky way of testing and validating stolen credit card credentials. It’s a pretty simple scheme, really. Fraudsters find a website with a vulnerable interface (donation platforms are common). They write a computer script that allows them to cycle through thousands

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Can You Do Me a Favor? – And Other Gift Card Fraud Tricks

When a simple request from a trusted person becomes fraud.Picture the scene: you get an email from your boss or relative asking if you can help them out. They happen to be working remotely when they need your help. They may want you to buy gift cards for staff prizes or make a purchase on their behalf because their card is not working. Fast forward to the final scene, featuring you out hundreds to thousands of dollars on your credit card, and the pretend boss or relative has accessed the money on the gift cards

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How COVID-19 is Affecting Online Traffic – And Other Graphs

Online crowdWhat a year.Life is being reshaped by lockdowns and social distancing, but online activities are changing just as fast.The sharp transformations are also stretching companies’ agility to adapt to the new user behavior, needs, and requirements stemming from the Coronavirus crisis.NuData is constantly monitoring its client’s traffic to help companies serve their users better while blocking online threats. It surprises no one that, as more people stay home and practice social distancing – your correspondent included – online user behavior

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Don’t get Stung by Tax Refund Fraud: IRS Warns Taxpayers of 2020 Schemes

The IRS has been working hard to eliminate tax fraud since 2015, but bad actors just find new ways to steal. Tax refund fraud costs the U.S. government millions of dollars a year. Thieves use stolen Social Security numbers, intimidation and fake tax collectors to try to get their hands on your money. How tax refund fraud works In this scheme, the bad actor creates a bogus tax return under a real person’s name and collects the refund. Then, when the legitimate person

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How do you Stop Payments Fraud With the CARTA Approach?

Spoiler alert: user verification happens ongoingly in the background, cutting customer friction. Adopt a continuous adaptive risk and trust assessment (CARTA) – aka Connected Intelligence in the Mastercard world – to prevent fraud and boost online sales. In our last post, we talked about assessing every step along the way in a customer’s journey. Starting at login and finishing at checkout, this approach to fraud detection is what Mastercard has been promoting as Connected Intelligence and Gartner supports under the name

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