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Fraud Management Institute

Welcome to the News View for "Fraud Management Institute".

Here, on these archive pages, you'll find all of the articles on Payments News for Fraud Management Institute listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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August 22, 2013

Headline News from - August 22, 2013

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it:!

August 19, 2013

Global Credit, Debit, and Prepaid Card Fraud Losses Up 14.6% in 2012

In a press release, The Nilson Report announced findings that "issuers, merchants, and acquirers of credit, debit, and prepaid general purpose and private label payment cards worldwide experienced gross fraud losses of $11.27 billion in 2012, up 14.6% over the prior year. Of that $11.27 billion, card issuers lost 63% and merchants and acquirers lost the other 37%." This amounts to a fraud loss rate of 5.22 basis points on total payment card volume of $21.604 trillion in 2012 - up from 5.07 basis points in 2011.

“Adoption of EMV at the point of sale is the strongest defense against counterfeit cards,” said David Robertson, publisher of The Nilson Report.

“EMV adoption would not only help U.S. issuers but also issuers in other parts of the world that must continue to put mag-stripes on their cards to accommodate POS terminals in the U.S. Fraudsters are willingly paying a premium for stolen mag-stripe data from EMV card countries in order to create counterfeit cards for use in the U.S.,” he explained.

Nilson noted that the losses were lowest on PIN-based debit cards where fraud losses were 1.1 basis points of PIN debit card volume.

Headline News from - August 19, 2013

On the web:

On the wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it:!

April 22, 2013

Headline News - April 22, 2013

On the web:

On the wires:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

June 19, 2012

Report Says 1.5% of Airline Online Booking Revenue Lost to Fraud

Worldpay logo 140px A global 'Perfect Passenger Payment' insights report, commissioned by WorldPay, finds that 66% of airline merchants are seeing fraud levels stay the same or increase as they lose 1.5% of booking revenue to fraudulent transactions. 29% of airlines reported that incidents of fraud have risen in the past year.
The good news for airlines is that customers are happy to accept a robust screening process when buying tickets online. 71% of consumers would prefer a slower payment process with more rigorous security checks than a faster process with fewer checks.

June 05, 2012

IdentityMind Launches its Antifraud Platform

IdentityMind logo 140x60px IdentityMind, a new on-demand platform tracking Internet identities and providing next generation anti-fraud services for online commerce, recently announced the availability of its Antifraud Platform for the general market.
IdentityMind proactive fraud prevention Platform offers real-time evaluation of payment transactions, account creation and login verification protecting merchants from accepting fraudulent transactions, acquirers and payment service providers (PSP) from fraudulent account creation and fraudulent merchants.

January 26, 2012

Vodafone Ventures Leads $11.3M Investment in Finsphere

Finsphere logo 140x60pxFinsphere has announced an $11.3 million investment led by Vodafone Ventures, the corporate venture capital arm of Vodafone Group.
"Through strategic relationships with mobile network operators and working with key industry partners, Finsphere enables wireless carriers to help protect their customers," said Mike Buhrmann, CEO of Finsphere. "Finsphere provides a sophisticated analytics platform for the development of non-intrusive identity services to enhance privacy and protect information across all industry segments."

January 24, 2012

CyberSource 2012 Online Fraud Report

Cybersource logo 140x60pxCyberSource has announced results of its 13th annual survey of eCommerce fraud based on an independent survey of hundreds of online merchants.
The overall picture: merchants are making gains against fraud but the battle continues. The fraud rate by order (the percentage of orders that turned out to be fraudulent) dropped from 0.9% in 2010 to 0.6% in 2011—the lowest in the 13 year history of the survey. But the cost of combatting fraud continues to grow. Dollar losses were up, manual review continued to climb, and merchants reiterated their concern that fraud is becoming more difficult to detect. 27% of respondents said they are engaged in mobile commerce and initial indicators regarding fraud in that channel are promising.

To obtain a copy of the survey results please visit

January 23, 2012

Survey Says Consumers Are Wary of Transacting on Tablets & Smartphones

Accertify logo 140pxAccertify recently commissioned a study of “connected” U.S. adults – or those with access to both a smartphone and a web-enabled computer – to learn more about how consumers perceive and are affected by online fraud.
… by large margins, online shoppers find computers more trustworthy than tablets or smartphones when making online purchases: 81% of respondents perceive their computer to be the most secure device for online shopping whereas only 7% trust their smartphone and 3% trust their tablets.

According to the survey, consumers today are conducting the most online transactions in the retail industry (57%), followed by banking and finance (51%), travel (27%), music and movie downloads (24%), and entertainment industries (18%).

July 13, 2011

Guardian Analytics Introduces Fraud Monitoring Managed Service

GuardianAnalytics logo 150pxGuardian Analytics has announced FraudDESK, a new fraud monitoring managed service that helps financial institutions immediately meet FFIEC Internet Banking Security expectations for anomaly detection without "staffing a new project, changing staff assignments or undergoing training."

May 18, 2011

CyberSource Airline Online Fraud Report - 2011 Edition

CyberSource logo 140pxCyberSource has released survey findings that "show that while airlines are gaining in their war against fraud, much work remains to be done. Airlines reported a loss of about $1.4 billion USD to online payment fraud in 2010."
Dr. Akif Khan, CyberSource's Director, Products and Services said: "The good news is that in terms of fraud loss rates, 2010 results showed a 31 percent improvement over 2008. Clearly, airlines have not only recognized the challenge but have made timely adjustments to it."

February 18, 2011

February 17, 2011

ClairMail Launches Mobile Fraud Management Solution

Clairmail logo 140pxClairMail has announced a new mobile fraud management solution for banks and their customers to oversee and quickly respond to fraudulent transactions directly through the mobile channel.
ClairMail's Fraud Solution works with existing FI fraud systems and processes to help mitigate card, Direct Deposit Account (DDA), online banking and identity fraud by leveraging all the capabilities of the ubiquitous mobile device and the robust alerting and orchestration capabilities of the ClairMail platform.
This video nicely illustrates how the whole thing works.

January 18, 2011

Chase Paymentech Launches Safetech Fraud and Security Solutions

ChasePaymentech_logo-140px.jpgChase Paymentech has announced the launch of Safetech™ Fraud and Security Solutions, a new suite of services designed to protect online merchants from fraud and POS merchants from data breaches.
“Chase Paymentech is wise to bring together these much needed solutions to their merchants,” said Carol Coye Benson, managing partner at Glenbrook Partners. “We now live in a world where managing risks associated with payment fraud and data security is part of the daily routine for merchants everywhere. By closely integrating these tools with the payment processing work streams, the Safetech approach makes the process more efficient.”
Safetech Fraud Tools were developed in partnership with Kount; Safetech Encryption was developed in partnership with VeriFone.

October 19, 2010

BlueCava Announces Series A Funding Round

bluecava_logo_140px.pngBlueCava recently announced the closing of a $5 million round of series A funding, which included two billionaire entrepreneurs - Mark Cuban and Tim Headington. BlueCava is positioning itself as a credit bureau for devices, providing information about good, bad, and historical activities conducted from desktop computers, mobile devices, and game consoles. The company hopes to find opportunities fighting online fraud and providing enhanced target marketing services. READ MORE »

July 29, 2010

Guardian Analytics Launches Industry Roundtable Series

GuardianAnalytics_logo-150px.pngGuardian Analytics recently announced the formation of an industry roundtable created to drive information sharing among financial institutions, law enforcement and industry experts. At their first industry roundtable participants shared "trends in threats and fraud attacks against the online and mobile channels and discussed trends in the online and mobile channels, the need to balance security with customer convenience, and the use of customer data as they key to defending against new and emerging cyber attacks."

Internet Crooks Craft Creative Counterfeiting Scam

Check fraud seems so old fashioned these days. But as this story points out, "these hackers got the account information in an unusual way: They broke into three websites that specialize in a little-known type of business — archiving check images online."

January 28, 2010

Verifi, Kount Partner on Risk Management for Card-Not-Present

Verifi and Kount have announced a partnership to jointly deliver a "next-generation technology solution to equip merchants with a powerful set of risk mitigation and business management capabilities. The partnership integrates Kount’s Multi-Layer Device Fingerprinting™ and predictive scoring technology into Verifi's platform, expanding the breadth of the Device Intelligence™ component of Verifi's innovative Intelligence™ Suite. Merchants are able to identify, track and defeat fraudulent users by linking suspect orders in real time, across the shared database." READ MORE »

March 04, 2009

Fraud Management Institute Report on Address Fraud

The Fraud Management Institute has released its first annual Address Fraud Survey.

This year, the Fraud Management Institute inaugurated its first annual Address Fraud Survey. We surveyed a wide variety of fraud management professionals in the banking, telecommunications and e-commerce industries to learn about their current experience with address fraud, the fraud risks they are giving top priority, and their implementation plans for different fraud management strategies. The results, and our analysis of those results, are published in this report.

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