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Jun 25, 2024 | 
merchantfraudjournal.com | Ronen Shnidman |Bradley Chalupski
Israel is a significant development center for technology that combats fraud and financial crime. Below are seven of the most promising anti-fraud Israeli startups of 2024. Expect to hear more about them in the future. Chargeflow was founded in 2021 by Israeli-American entrepreneurs Ariel Chen and his brother Avia Chen, who had previously assembled the team that founded Babe Cosmetics. They had a successful enterprise but a massive chargeback issue that resulted in the birth of Chargeflow.
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Jun 17, 2024 | 
merchantfraudjournal.com | Bradley Chalupski
Apple announced it is shutting down its Buy Now Pay Later (BNPL) service. The announcement was made via a statement to the popular 9to5Mac website. In the statment, Apple states the reason for the shutdown is a desire to focus on financing products delivered through credit and debit cards, as well as other lenders. Starting later this year, users across the globe will be able to access installment loans offered through credit and debit cards, as well as lenders, when checking out with Apple Pay.
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Jun 7, 2024 | 
merchantfraudjournal.com | Bradley Chalupski
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May 29, 2024 | 
merchantfraudjournal.com | Bradley Chalupski
As the world continues its march toward digitalization and people spend increasing amounts of time online, the importance of robust ID verification mechanisms cannot be overstated. Two recent trends have accelerated this urgency: the proliferation of misinformation about prominent political figures and global conflicts, and the introduction of new legislation aimed at enhancing online safety.
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May 22, 2024 | 
merchantfraudjournal.com | Bradley Chalupski
Volume of human-initiated attacks surged by 40%, while automated bot attacks increased by 2%. Cybercriminals are utilizing remote scam centers based in Southeast Asia to launch attacks on consumers globally. Third-party account takeover is the most common fraud classification reported by clients (29% of all classifications).
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May 21, 2024 | 
merchantfraudjournal.com | Bradley Chalupski
The rest of 2024 promises a dynamic and challenging environment within the interconnected world of fuel, fraud, and payments. Sustainability concerns are reshaping the fuel landscape, with electric vehicles (EVs) taking centre stage and demanding eco-friendly solutions. This surge in EVs necessitates the development of more unmanned charging stations, which in turn attracts opportunistic fraudsters who exploit vulnerabilities in data collection methods and security protocols.
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Mar 22, 2024 | 
merchantfraudjournal.com | Bradley Chalupski
Dealing with chargebacks can be a tough part of doing business for many retailers, especially when they’re caused by fraud, mistakes on the merchant’s part, or, sometimes, unfounded accusations. While the first two scenarios can offer valuable lessons, it’s the unfounded accusations that test the integrity of the chargeback process. When these unfortunate situations arise, merchants have a chance to turn things around if they can put forward a strong, evidence-based argument.
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Mar 20, 2024 | 
merchantfraudjournal.com | Bradley Chalupski
A chargeback is when a customer makes an online purchase with their credit card and then requests a chargeback from the issuing bank after receiving the purchased product or service. Below is a guide that will share the essential things merchants need to know to understand the different types of chargebacks, their effects, and prevention strategies. What is a chargeback? A chargeback is a process that allows credit cardholders to dispute a transaction and secure a refund for their purchase.
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Feb 29, 2024 | 
merchantfraudjournal.com | Bradley Chalupski
Return fraud is a significant challenge for retailers, costing the industry billions of dollars annually. It occurs when individuals exploit return policies to obtain money or goods dishonestly. Understanding the various types of return fraud and implementing effective prevention strategies is crucial for businesses to protect their bottom line. Below are some common forms of return fraud and an explanation of the best practices for preventing it.
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Feb 28, 2024 | 
merchantfraudjournal.com | Bradley Chalupski
Chargeback reversals are a significant concern for businesses of all sizes. Originally designed as a consumer protection mechanism against fraudulent transactions, chargebacks are also abused by fraudsters, leading to lost revenue, damaged reputations, and operational headaches for businesses. However, chargeback reversals can refund the money lost from a fraudulent chargeback. And with the right approach, it’s possible to successfully contest and reverse chargebacks.
