What is fraud triangle

In the 1970s, criminologist Donald R. Cressey published a model called the “fraud triangle”. This model focuses on his research of people who were caught embezzling. There are three elements that made up his model; opportunity, pressure, and rationalization. Using this model, we are able to gain an understanding of […]

The importance of an evolving fraud prevention system

Online stores have always encountered fraud cases when it comes to e-commerce transactions. The only difference is that with the pandemic, more and more people started buying things online. As a result, fraud cases have risen significantly as well. Smaller merchants may find themselves struggling to vet all online order […]

Why repeat customers are important

In today’s competitive business landscape, customer retention has emerged as a strategic approach of sustained success. Customer retention encompasses both repeat purchases and repeat customers, but it goes beyond just these two concepts. Repeat purchases and customers are closely related concepts that are integral to understanding customer behavior and business […]

What is return fraud and how to minimize the impact

It is a fraud when a customer is trying to cheat the seller via the product return process. Fraudsters will abuse the return policy when committing return fraud. Return fraud is particularly common in countries like the United States, where the return policies of most merchants are relatively flexible and […]

How Sellers Can Safeguard Their Customers and Business

Customers are a critical component of any business’s success because they are the primary source of revenue for most companies. Without customers, a business cannot generate sales, and without sales, a business cannot make a profit or sustain itself in the long term. Therefore, businesses must focus on building strong […]

Customer trust VS Data trust

Do you sell products or services from an online store? If yes, then you need to read on. Today, we are going to cover when to trust your customers and when to perform due diligence for fraud orders. As long as there have been e-commerce sites, there have always been […]

Protect your business from loyalty fraud

Businesses use loyalty programs as a marketing strategy to motivate customers to make repeat purchases of their products or services by offering rewards or benefits. Loyalty programs which include discounts, exclusive offers or free products or services are good in strengthening customers’ relationships with brands or services and thus boosting […]

Machine learning in fraud prevention

What is artificial intelligence? Artificial intelligence (AI), refers to the use of machines to perform tasks that a human being normally does. These include speech recognition, image recognition, translations and so much more. One of the famous example that had been introduced recently is ChatGPT. ChatGPT is an AI chatbot […]

How to Spot Fraud and What Next?

Fraud is becoming a growing concern in our society, affecting individuals, businesses, and even entire economies. According to Statista, e-commerce losses to online payment fraud is estimated to hit 48 billion U.S. dollars in 2023. It is important to be vigilant and actively spot fraud in order to protect yourself […]

Fraud Prevention with Tokenization

You may heard of tokenization lately but do you know why it is becoming popular in many industries such as e-commerce merchants, payment processors, and banks? Fraud is what happens when someone uses illegally obtained information such as credit card information to make purchases. For online businesses, this has become […]