How does Fraud Increase Leading Into The Holidays Fraud News

As the calendar turns to November, that means Fraud is on the rise. Karrise breaks down this and more in this week's Fraudology news.

There are often headlines about online fraud & cybercrime. But which ones do you need to know, and what do these stories mean for your company? 

On this episode, we cover:

• The big headline for payment processing from the last week: The FBI Raid on the US Warehouse of PAX technologies. Why did so many online fraud managers worry about this? And what can be done to assess any risk to your company? 

Original article:  https://krebsonsecurity.com/2021/10/fbi-raids-chinese-point-of-sale-giant-pax-technology/

Pax Technology's corporate statement to shareholders:https://www.paxtechnology.com/blog/pax-technology-announcement-and-resumption-of-trading

• The NRF has released it's predictions for the increase in sales volume for the Holiday season, and we dive into the numbers for e-commerce retail. Will fraud increase as well? And what can be done last-minute to prepare for this increased volume to reduce negative customer impact while minimizing chargebacks?

Original article: https://nrf.com/media-center/press-releases/nrf-predicts-highest-holiday-retail-sales-record

• As discussed on last week's episode, supply chain issues are expected to cause delays and items on back-order throughout the holiday season. In a recent report by Riskified, they predict this will cause e-gift card sales to soar even more than usual during the December Holiday season. How can merchants minimize risk on this already risky channel of business?

Original Article: https://news.cardnotpresent.com/news/supply-chain-issues-will-make-e-gift-cards-more-popular-than-ever-says-report

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Mentioned in this episode:

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