Online fraud increased significantly during the recent pandemic and economic downturn, with losses of an estimated $12 billion worldwide.1 To ensure continuous protection, organizations need modern solutions to protect from a range of fraud—from payment fraud, bots, account takeover, and returns and discounts fraud.
Identity authentication is a crucial part of any fraud protection and access management service. That is why Microsoft Dynamics 365 Fraud Protection and Microsoft Azure Active Directory work well together to provide customers a comprehensive authentication seamless access experience.
Successful fraud protection relies on a lot of information. The more insights you have into transactions and accounts, the better you will be able to detect suspicious activity.
In this blog series we are exploring the latest fraud related events and issues on the rise in our digitized world. The first installment in the series explored account takeovers (ATO) and the $7 billion yearly loss affecting even the largest organizations.
In this blog series we are exploring the latest fraud-related events and issues on the rise in our digitized world. The first installment in the series explored account takeovers (ATO) and the $7 billion yearly loss affecting even the largest organizations.
This year has been unexpected to say the least. As 2019 ended and business forecasts were written, no one would have ever guessed what was to come in 2020.
The majority of people with a credit card have heard or read the words, “Your card has been declined.” When a card issuer detects fraudulent activity, this phrase protects cardholders from illicit charges or identity theft.
Our lives have shifted quickly over the last few months, and so have businesses as they work to respond to changing needs. Merchants, together with consumers, have had to rely more on doing business online as the new situation globally demanded it.
As Microsoft continues to support organizations on the front lines of the COVID-19 crisis, a priority is providing customers with the right tools to protect their revenue in this challenging economic environment. Customers and companies alike are increasing their online presence, becoming more vulnerable to fraud.
The COVID-19 crisis has impacted all aspects of our lives, shifting the way we live, interact, do business, and more. Retail merchants worldwide are dealing with emerging sales scenarios to address contactless selling, rising operational challenges, and plunging demand exasperated by increased fraud.
Many of us have experienced a rejected credit card transaction when shopping online. Questions flood the mind such as “Did I pay my bill?” “Have I exceeded my credit limit?” “Was my card stolen?
Fraud is a huge barrier for everyone involved in an e-commerce transaction. From the bank, to the merchant, and the customers themselves, fraud prevention can add friction to the customer experience and cause inaccurate approvals or wrongful rejections that result in increased operational costs and, ultimately, decreased revenue.