In the world of eCommerce, financial fraud is considered especially heinous. In the USA and abroad, the dedicated researchers  who collect the data and investigate these self serving crimes are members of an elite squad known as eCommFraud.com. These are their stories.

The Cost of managing online fraud has increased to 8% of a retailer’s annual revenue – April Berthene, October 3rd 2017

Merchants spent $12.3m on fraud management in the last year, up from $10.5

  • Unauthorized transactions = 33% increase
  • Account takeover fraud
  • “Friendly” fraud where a criminals don’t use stolen CCs but instead, commit fraud by falsely claiming a package never arrived etc.

 

 

eCommerce Fraud Stories

Posted on

Fraudster Sam Young the World Traveler

The World Traveler “Sam Young” purchased a highly customized, expensive item from a US based merchant in early 2018. There were few red flags, at first. The merchant began an email conversation with the Gmail account immediately after the order was received. The scammer replied, accepting the build timeline & confirming specific measurements. The first …

Continue reading “Fraudster Sam Young the World Traveler”