Fraud and Dispute OLD permissions changed Market Trends

Across the globe we are observing an increasing pressure from fraudsters. Their technical and professional competences are growing and they are operating on an international scale. Especially internet fraud is a lucrative and low risk area for criminals as they can operate out of safe havens, and thus are difficult to prosecute.

Due to our intelligence and analytics, we are capable of delivering knowledge about the newest fraud trends to our customers.

Too good to be true offers

"Latest iPhone for €1 only" or "Now you can get this luxurious bag only for $5". These are both examples of the too good to be true offers that consumers face online, especially on social media. Often these offers lead into subscription traps and disputes.

Automated attacks

Cybercriminals use software to perform automated payment attacks. Attacks are extremely fast, consisting of multiple simultaneous authorisations. They are impossible to detect and prevent without modern sophisticated fraud solutions.

E-commerce fraud increases

E-commerce is increasing tremendously all over the world. Nordic consumers purchased goods online with a total value of 21.9 billion Euros in 2016 which was a 21 % increase compared to the previous year. At the same time, unfortunately, data breaches involve larger amounts of card numbers leading into higher levels of e-commerce fraud.

More sophisticated forms of fraud

Fraudsters are always looking for the weakest link and new ways of making profit. Fraud is nonstationary and new trends are constantly evolving. Nets is committed to stay in front, not just with our latest technologies within artificial intelligence, but also by continuously optimising and enhancing our teams ability to combat fraud efficiently.

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