Mr. Montague is the founder and President of The Fraud Practice. He has spent the last fourteen years working in the eCommerce space, and is well respected for his business knowledge and thought leadership. His background includes an in-depth application of innovative solutions for preventing e-commerce fraud. Mr. Montague is a published author, having written "Fraud Prevention Techniques For Credit Card Fraud", and speaks regularly about eCommerce fraud. He has been a featured speaker at such events as: Direct Response Forum (DRF), National Retail Federation (NRF) Fraud and Loss Prevention Conference, Retail Week’s Retail Solutions Show, Retail Week’s United Kingdom Risk Management Conferences, CyberSABOTAGE Conferences, Nestor Fraud Symposiums, Microsoft Tech-Ed and a host of other seminars and workshops around the world. Mr. Montague is an active member of the Association of Certified Fraud Examiners ACFE, Project Management Institute PMI.
We are all well aware of the complaints about consumer adoption, issuer adoption, complexity in signup, usability and protection rights with these programs, but we have all been trying to quantify if there is a real impact to sales conversion. Mick Scott of Lastminute.com was quoted in the recent article “Industry lays into 3-D Secure”, Phil Muncaster, IT Week, 11 April 2008 as saying "We turned on Verified by Visa in Spain and it was horrific," said Scott. "There was a 30 per cent drop... Read Full Story
The article from SCMagazineUS.com “Clothing retailer settles with FTC over credit breach” by Dan Kaplan may seem routine. It discusses the missteps the FTC believed the company Life is Good had taken and it outlined the corrective actions. But take a minute to reread the statement by Dan Kaplan; “The FTC said the merchant deceived customers by stating on its website that it valued and secured private data.” Wow, that got my attention. How many retailers take that statement for granted... Read Full Story
On June 4th 2008 Australia will roll out the capability for card present merchants to offer consumers the choice of confirming payment authorization using a physical signature or by entering a 4 digit pin. Notable Quote: According to Pen or PIN project spokesman Simon Greig "Australians are among the most prolific card users in the world, making more that 118 million card transactions a month," Quote is taken from the Herald Sun Article by Alice Coster tittled “Credit card PINs punch wrong... Read Full Story
For those of you that haven’t come across them yet, Fididel is a new eCommerce technology offering the ability for real time negotiation of purchases online. Unlike a traditional auction, buyers don’t have to wait for the auction to end to make a purchase. Additionally buyers that want to buy an item, but aren’t willing to pay the asking price can negotiate in real time with the seller or their representative in real time. For sellers this means a greater opportunity for converting sales... Read Full Story
Based on the article “Card fraud threatens development of European payments network-EU” by Finextra.com on 28 April 2008, it appears that payment fraud is undermining consumer confidence to a level that is impacting initiatives to develop a cross-border payment network in Europe. For more information related to this subject go to the Finextra.com on 28 April 2008 article titled: “Card fraud threatens development of European payments network-EU” Read Full Story
The Australian government is investigating if eBay Australia's policy of forcing payment using PayPal, which eBay owns, or cash on delivery/pick-up, breaches trade practice and competition laws. For more information related to this subject go to theage.com 22 April 2008 article titled: “Reserve bank could Scuttle eBay’s plans” Read Full Story
According to the Javelin Strategy & Research 2008 Card Issuers’ Identity Safety Scorecard results, the greatest opportunity for Issuers to reduce fraud losses is to expand on their abilities within prevention and detection. Other notable excerpts: “Bank of America Scores highest ranking on the Javelin’s 2008 Card Issuers’ Identity Safety Scorecard; second place went to Discover, followed by FNB Omaha and U.S. Bank.” Javelin Strategy & Research “Findings Show That Arming Consumers with... Read Full Story
Dmitry Ivanovich Golubov is known by some as the Godfather of Credit Card Fraud. Mr. Golubov is active on the underground Web site CarderPlanet and he is considered an expert at both Trojan horse and malware hacking. His arrest in July 2005, at the ripe old age of 22, was front page news in the war on computer crime. To read more on this article go to the Cape Cod Times April 29, 2008 article: “Meet Mr. Malware, and see how to avoid him”. Read Full Story
According to The Economic Times, the going rate for stolen credit card numbers ranges from $0.40 to $20 while bank account information ranges from $10 to $1000 per account. They also indicated that if you were willing to buy in bulk you could acquire 50 credit card numbers for $40 or 500 credit card numbers for $200. In case you were curious, the same article quoted Symantec Corporation as stating that email passwords sell for as little as $4.00 to $30.00, while full identities are selling... Read Full Story
According to the Javelin Strategy & Research 2008 Card Issuers’ Identity Safety Scorecard results, the greatest opportunity for Issuers to reduce fraud losses is to expand on their abilities within prevention and detection. Other notable excerpts: “Bank of America Scores highest ranking on the Javelin’s 2008 Card Issuers’ Identity Safety Scorecard; second place went to Discover, followed by FNB Omaha and U.S. Bank.” Javelin Strategy & Research “Findings Show That Arming Consumers with... Read Full Story
