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Dive Brief:
E-commerce retailers are at risk of losing over $20 billion in 2021 due to online fraudulent activities, a Juniper Research report found. This loss would represent an 18% increase, compared to $17.5 billion recorded last year.
Identity theft, chargeback fraud, silent fraud, account takeovers and pharming are major fraud threats for online shoppers and merchants. China is expected to be the largest e-commerce fraud market in the world, accounting for over 40% of e-commerce fraud losses globally by 2025, at over $12 billion.
Automated behavioral analytics using artificial intelligence and clear messaging around security checks will be essential to conserve user experience and save customers from fraud, the report stated.
Kansas remains a top state for unemployment fraud despite officials seeking solutions
Morning Sun
PITTSBURG, Kan. It is no secret that the Kansas Department of Labor has had a challenging year amid the COVID-19 pandemic, with former Labor Secretary Delia Garcia resigning last June and the department having been led by a series of actingsecretaries since then. One major issue the KDOL has been dealing with is rampant unemployment insurance fraud.
“Fraud is unacceptable and will not be tolerated. It’s stealing from taxpayers at the worst possible time and all attempts at fraud will be referred in the strongest possible manner to law enforcement,” Gov. Laura Kelly said in February. “All 50 states have been overrun with coordinated, sophisticated criminal fraud attempts, and that’s why I wrote a letter with fellow Governors, calling on Congress to provide funding to secure and modernize our systems.”
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Every day, about four or five times a day, Doug Kenyonâs phone lights up with news of another scam.
âLetâs see what todayâs is â oh, another debit card fraud,â he said, scrolling through the notification. Ten minutes later, he gets another â this time about car warranty robocalls.
As a member of the Green Valley Sheriffâs Auxiliary Volunteers for more than eight years, and now commander of the SAV, Kenyon has seen waves of scam activity flood the Green Valley area.
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FTC Defense Lawyer on the Highly Anticipated Supreme Court Decision in AMG Capital Management and a Potential Legislative Fix to the FTC’s Embattled Enforcement Authority Under 13(b) Thursday, April 22, 2021
The issue in AMG is whether the FTC is statutorily entitled to use Section 13(b) of the FTC Act to obtain monetary remedies in federal court.
On April 20, 2021, the Senate Commerce Committee convened a hearing titled, “Strengthening the Federal Trade Commission’s Authority to Protect Consumers.” The hearing addressed the Commission’s endangered consumer redress authority; the Commission’s efforts to fight fraud during the pandemic - including its new first-time civil penalty authority for COVID-related scams - and the Commission’s tools and capabilities in the information age, including $30.4 million in funding for consumer protection matters that Congress provided in the American Rescue Plan Act.
BBB invites community to take part in Secure Your ID Day shred event
Published Monday, Apr. 19, 2021, 12:10 am
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Saturday, April 24, at the Salem Civic Center parking lot.
BBB encourages local residents to bring up to three boxes or bags of sensitive documents to be shredded on-site to lessen the risk of identity theft in our area.
According to the FTC’s 2020 Consumer Sentinel Network Report, identity theft was the most common scam in Virginia, with more than 15,500 identity theft scams reported.