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New Account Fraud Prevention

What is new account fraud prevention? New account fraud prevention involves measures to detect and stop fraudulent activity during the creation of new accounts. This typically includes detecting and mitigating bot activity, identity verification, monitoring suspicious behaviors, and using advanced techniques to identify and stop fraudulent attempts. Understanding New Account Fraud Prevention New account fraud heavily relies on data breaches and identity theft to pull…

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Loyalty Fraud: Safeguarding Your Rewards Program

What Are the Risks of Loyalty Fraud for Your Business? The persistent threat of loyalty fraud looms large, posing substantial risks to businesses and customers alike. Did you know that 22% of merchants have encountered incidents of loyalty fraud, according to the MRC’s 2023 Global Payments and Fraud Report? Understanding the nuances of this type of fraud is crucial for implementing effective prevention strategies. From…

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Safeguarding Your Enterprise: Digital Fraud

What is digital fraud? Fraudulent activities conducted using digital means for financial gain are called digital fraud. Digital fraud causes financial loss, exposure of sensitive data, brand abuse and loss of trust among consumers and other stakeholders. Fighting off digital fraud is a continuous battle for businesses and consumers alike. The integration of advanced technology has led to the emergence of sophisticated methods of deception,…

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Understanding Fintech Fraud: Types, Risks, and Prevention Strategies

Fintech fraud encompasses illegal activities targeting digital financial services and technologies. From the exploitation of vulnerabilities in financial systems and applications to fraudulent transactions, phishing and fraud schemes, fintech fraud can take many forms. Types of fintech fraud What are the types of fintech fraud? Driven by the use of technology, fintech fraud continues to evolve. Some common types of fintech fraud include: Account Takeover…

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Banking Fraud: Comprehensive Guide to Understanding, Detecting and Preventing It

As banking increasingly shifts to digital platforms, the risks of fraud are also on the rise. Cybercriminals are constantly developing new tactics to exploit vulnerabilities in online banking systems, targeting both consumers and financial institutions. This comprehensive guide will break down the essentials of banking fraud, including how it occurs, its impact on banks and customers, and the best practices for detecting and preventing fraudulent…

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What Is Inventory Hoarding? Detection and Prevention

What is inventory hoarding? Inventory hoarding is when bad actors use automated bots to buy large quantities of products online, preventing legitimate consumers from purchasing them. This practice depletes stock, disrupts fair access, and causes artificial scarcity and inflated prices.  Defining Inventory Hoarding Attacks Automated systems or bots manipulate online inventories, especially in industries like e-commerce, travel, hospitality, entertainment, and gaming. They rapidly purchase…

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Card Testing Fraud: What It Is, How to Prevent It

What Is Card Testing Fraud? Card testing fraud involves cybercriminals validating stolen credit card details through small online purchases. They use these trials to confirm card validity before making larger fraudulent transactions or selling these validated payment credentials on the dark web, aiming to exploit active cards without raising suspicion. The Mechanics Behind the Attack Carders may employ a variety of techniques to test the…

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Unlocking CAPTCHAs: Moving Beyond Deterrence to Detection

Over the last six days alone, Arkose Labs identified and thwarted 189 million attacks for our customers. By tracking different classes of biometric inconsistencies, we gain insight into the evolving nature of bot attacks within specific customer traffic and across the platform. In the digital realm, traditional CAPTCHA has long been viewed as a necessary annoyance, a tool employed to thwart automated bots and ensure…