Holiday Retail Fraud: Stopping Scammers in Their Tracks
The holiday shopping season has always been a make it or break it time for retailers but this year holds unprecedented challenges due to the remarkable increase in fraud brought about by the supply chain crisis, the COVID-19 pandemic, and the increase in organized smash-and-grab theft around the country.
.png)
The holiday shopping season has always been a make-it-or-break-it time for retailers but this year holds unprecedented challenges due to the remarkable increase in fraud brought about by the supply chain crisis, the COVID-19 pandemic, and the increase in organized smash-and-grab theft around the country. I recently shared insights with TotalRetail about what retailers and customers need to do to stop scammers in their tracks this December. Keep reading to learn my top three tips, or read the full article for the full scoop.
- Watch out for phishing scams: The supply chain crisis is making it difficult for retailers to keep items in stock, stressing out customers and creating an opportunity for fraudsters. Fraudsters regularly create phishing sites that are designed to resemble big-box retail sites in order to lure in hurried customers eager to purchase hard-to-find gifts and steal their personal and credit card information.
- Beware of porch pirates: As the COVID-19 pandemic drags on, consumer behavior continues to shift toward e-commerce. Unfortunately, all that shipping gives thieves the opportunity to steal packages while the rightful recipient is away. Requiring a customer’s signature is one way to cut down on such theft.
- Complete identity verification at every step: It’s imperative that retailers take every step to verify their customer’s identity to ensure the legitimacy of a transaction. Implementing device intelligence, phone-centric identity signals, and biometrics can even be used to detect irregularities in data and intelligently control and mitigate loss.
Read the full story on TotalRetail.
To learn about Prove’s identity solutions and how to accelerate revenue while mitigating fraud, schedule a demo today.
The modern
way of proving identity
Trusted by 2,000+ leading companies to reduce fraud and improve consumer
Mary Ann Miller is the Fraud & Cybercrime Executive Advisor and VP of Client Experience at Prove. Mary Ann is a well-respected expert in the fraud and identity space who has been quoted by Sky News, TechCrunch, American Banker, USA Today, and others. Mary Ann was most recently Head of Fraud Strategy at Varo Bank, where she led the fraud strategy process for transitioning the fintech to a nationally chartered challenger bank. Prior to that, Mary Ann's held directorships and executive roles at well-known organizations such as USAA, PayPal, Lloyd's Banking Group, and other technology firms. She has also served on the US Federal Reserve Secure Payments Task Force and is a current member of the Federal Reserve’s Scams Definition and Classification Work Group.
Keep reading
Read the article: Stop Account Takeover Fraud Without Slowing Down Real Customers in the Contact CenterLearn how Prove for Amazon Connect helps banks and insurers prevent account takeover, authenticate callers, reduce handle time, and improve customer experience.
Read the article: Solving for the Gap Between a Verified Identity and a Trusted InteractionGAO findings show how fraudulent accounts passed Login.gov identity checks and why cryptographic possession and persistent identity are essential
Read the article: Blend And Prove Cut Application Drop-Off By 16% For Banks And Credit Unions
