With summer a distant memory and the kids back in school, it’s time to look ahead to the last few months of 2019. For retailers and many other businesses this will mean preparations in earnest for the busy holiday season. Stretching from Thanksgiving and across the Black Friday weekend to Christmas and Hannukah,...
At Simility, we often talk about the need for machine learning-powered systems to combat a new wave of sophisticated digital fraud. But what exactly is machine learning – and how can it be leveraged to provide an advantage over legacy rule-based tools? Tapping the Power Of AI Machine learning is a sub-discipline...
Online fraud is a complex problem requiring a sophisticated solution. We all know it’s on the rise. But there’s no single, definitive cause. Instead, a confluence of factors including digital transformation, the rise of dark web sites, credential stuffing tools and more have come together to create a unique challenge...
It’s no secret that fraud is on the rise, fueled by persistent data breaches, and the widespread use of anonymizing technology and automated account takeover tools. Over 14 million consumers fell victim last year, and this estimate by Javelin Strategy & Research could be just the tip of the iceberg.1 Against the growing...
Cybersecurity and fraud prevention go hand-in-hand for both businesses and consumers, just as cybercrime and online scams are intrinsically connected. That’s why we’re supporting National Cybersecurity Awareness Month (NCSAM) in the US again this October. With it comes a host of events and opportunities to spread best practices and make the digital world a safer place. For us...
Data breaches come so quick and fast these days that both consumers and businesses are in danger of becoming desensitized. In August alone, tens of millions of customer records were compromised after two online apparel companies were hit. This, supposedly, came in one of the quietest months of the year...
Card fraud is a constant challenge for modern businesses. Any organization accepting card payments online is exposed to chargeback losses, customer churn, brand damage and the many other financial and reputational impacts of internet-based scams. Yet businesses not only have an obligation to themselves and their customers to tackle fraud, but...
Fraud prevention is an increasingly important part of running a modern business. If you accept online card payments, the chances are your organization will be exposed to digital scams. The cost of fraud can extend well beyond lost sales to customer attrition, reputational damage, and regulatory and administrative fines. New rules...
Fraudsters are always looking for new ways to drive revenue and evade the scrutiny of risk teams. This cat-and-mouse game has seen the bad guys continually adapt their tools and techniques to stay one step ahead of those out to stop them. Despite headline card fraud losses in the US...
The digital economy has given rise to disruptive business models that make it convenient for customers to transact online. Customers can easily set up and operate accounts online by providing personal information at sign-up and log-in, respectively. This ease and convenience also has a flip side. If fraudsters gain unauthorized...
