Most crimes, as the saying goes, are crimes of opportunity. And that’s bad news for small businesses, whose lack of resources and challenges when accessing financing often leaves them ill-prepared for fraud schemes and scams — particularly given the shot in the arm that innovations...
Friendly fraud is a bit of a misnomer; first-party card misuse would be more accurate. That’s because, just like other types of fraud and cybercrime, friendly fraud is anything but friendly. And with more people conducting transactions online and purchasing digital goods, the opportunities for friendly fraud...
Transaction disputes are massing across digital channels. Mike Lemberger, head of risk for North America at Visa, told PYMNTS that friendly fraud, also known as first-party fraud, accounts for as much as 16% of fraud disputes, as estimated by Merchant Risk Council. With a nod...
May 02, 2024
Most crimes, as the saying goes, are crimes of opportunity. And that’s bad news for small businesses, whose lack of resources and challenges when accessing financing often leaves them ill-prepared for fraud schemes and scams — particularly given the shot in the arm that innovations like artificial intelligence (AI) have given to bad actors. “Larger […]
April 17, 2023
Transaction disputes are massing across digital channels. Mike Lemberger, head of risk for North America at Visa, told PYMNTS that friendly fraud, also known as first-party fraud, accounts for as...
