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Tag: fraud

BOPIS fraud is up 250% in 1 year. Can retailers protect their profits without losing customers?

As “buy online pickup in store,” or BOPIS, grows in popularity for consumers, it is also becoming an enticing platform for fraudsters. Retailers are facing a new set of challenges with click-and-collect services that many are not prepared to handle. Although it is hard to compare the rates of fraud in BOPIS to other channels, …

BOPIS fraud is up 250% in 1 year. Can retailers protect their profits without losing customers?Read More

Luckin Coffee says probe into sales fraud is ‘substantially’ complete

Luckin Coffee said Wednesday that it has “substantially” completed its independent internal probe into the sales fraud scandal that implicated its top executives. The independent investigation found that the Chinese coffee chain’s 2019 sales were inflated by 2.12 billion yuan ($300 million) and its expenses by 1.34 billion yuan ($190 million) that year. The fraud began in …

Luckin Coffee says probe into sales fraud is ‘substantially’ completeRead More

BOPIS fraud is up 250% in 1 year. Can retailers protect their profits without losing customers?

As “buy online pickup in store,” or BOPIS, grows in popularity for consumers, it is also becoming an enticing platform for fraudsters. Retailers are facing a new set of challenges with click-and-collect services that many are not prepared to handle. Although it is hard to compare the rates of fraud in BOPIS to other channels, …

BOPIS fraud is up 250% in 1 year. Can retailers protect their profits without losing customers?Read More

How retailers can fight fraud without compromising customer experience – Retail News – A1 Retail Magazine

  Ryan Kemp, Director of Retail at TransUnion in the UK explores what retailers should be doing to combat the ever-evolving fraud threat How do you keep your customers’ information secure and prevent fraudulent transactions whilst maintaining that ever-important smooth checkout experience? Our philosophy here at TransUnion is ‘friction-right’ design. This means ensuring customers have …

How retailers can fight fraud without compromising customer experience – Retail News – A1 Retail MagazineRead More

Ethoca wins Most Innovative Online Solution at the UK Fraud Awards 2019

Ethoca, the leading provider of collaboration-based technology solutions that help card issuers and online merchants increase card acceptance and stop ecommerce fraud and disputes, has won ‘Most Innovative Online Solution’ at the UK Fraud Awards 2019.  Hosted by Retail Risk, the awards celebrate the best anti-fraud and security technologies on the market today. The winners …

Ethoca wins Most Innovative Online Solution at the UK Fraud Awards 2019Read More

Ecommerce consumer law may include social media shopping, Retail News, ET Retail

BENGALURU: The government is thinking of regulating products and services sold on social networks such as Facebook, Instagram, Pinterest and WhatsApp under the upcoming rules to protect consumers who transact on ecommerce portals. The move comes amid increasing complaints, both on the National Consumer Helpline and other portals that track consumer grievances, about products sold …

Ecommerce consumer law may include social media shopping, Retail News, ET RetailRead More

Survey: Payment fraud is booming

Both retailers and consumers are reporting growing levels of fraudulent online and in-store transactions. According to the American Express 2019 Digital Payments Survey, almost seven in 10 (69%) U.S. retailer respondents reported that significant amount of company time and expense is dedicated to dealing with payment fraud. Nearly eight in 10 retailer respondents (77%) reported …

Survey: Payment fraud is boomingRead More

Survey: Payment fraud is booming

Both retailers and consumers are reporting growing levels of fraudulent online and in-store transactions. According to the American Express 2019 Digital Payments Survey, almost seven in 10 (69%) U.S. retailer respondents reported that significant amount of company time and expense is dedicated to dealing with payment fraud. Nearly eight in 10 retailer respondents (77%) reported …

Survey: Payment fraud is boomingRead More

363% jump in fraud cases on e-commerce website, Retail News, ET Retail

PUNE: The Cybercrime police have registered more than 1,000 cases of fraud on one e-commerce website this year, a 363% jump over last year. In 2018, the police had registered 25 complaints. This year, till the first week of November, the number has touched 1,042 cases. Police said they have tracked down the location of …

363% jump in fraud cases on e-commerce website, Retail News, ET RetailRead More

Study: Retail fraud attempts triple in two years

As retail fraud rises, so do the average losses. According to the 10th annual True Cost of Fraud report for the retail sector from LexisNexis Risk Solutions, overall retail fraud attempts have doubled year-over-year and tripled since 2017. The study also found merchants pay $3.13 per lost dollar on average, up 6.5% from $2.94 in …

Study: Retail fraud attempts triple in two yearsRead More