Tech Guest Viewpoint: EMV: Why Online Retailers Should Pay Attention
If you only sell online, do you really need to care about EMV? The short answer:
Yep. And that's because we - along with many payment experts - believe that
while the overall net effect of introducing EMV may be positive, it's also
likely to cause an increase in card-not-present (CNP) fraud. Are you prepared?
Fraudsters gonna fraud
Learning from the U.K., Canada, France and Australia
Since 2003, more than 60 countries have rolled out EMV. The U.S. is fairly late
to the game, so we can look at fraud trends from other countries to get a hint
at what's to come - and while card present fraud declined significantly across
the board, increases in CNP fraud offset some of those gains. In the U.K.,
CNP fraud grew by 79% between 2005 (the EMV liability shift) and 2008. France
(adopted in 2002) and Australia (2012) both saw CNP fraud climb about 20% in the
first few years after the EMV migration. And Canada? A 133% spike in CNP fraud
between 2008 and 2013.
The expected uptick in CNP fraud after the EMV migration "reinforces the need
for a layered approach to security," according to the Smart Card Alliance, a
multi-industry association of payments experts. It's the perfect time to look at
your options for mitigating risk, so you can focus on what matters: building
Online Fraud to Increase 50% Come This October
This is according to security firm Forter and its reasoning is thus: October is
the month that the EMV payment standard goes into effect in the U.S. Cyber
thieves will double down on online fraud once it rolls out. "The truth is,
fraudsters take the path of least resistance. If the point-of-sale at physical
retailers is hardened they won't go there if there are easier targets."
Forter believes that New York is the top state for mobile fraud, according to an
analysis it performed for Forbes.com. "A highly-populated state like New York is
going to have a lot of public Wi-Fi," Zielke says. Forter says it accounts for
39.3 percent of all mobile fraud. Ditto the next states on its list: Maryland,
at 27.7 percent, Washington DC, at 23.5 percent, California's 22 percent and
Connecticut's 21.5 percent. It is logical, then, that when the EMV goes into
affect, mobile fraud will increase the most in these states for all of the
Is Alibaba's eCommerce Edge At Risk?
Alibaba's latest quarterly earnings showed that its growth is slowing - and
slowing in a way that has some analysts concerned - but that doesn't mean the
eCommerce giant hasn't come up with ways to keep its edge ahead of its smaller
rivals. Those newer players in the crowded Chinese eCommerce space have kept
Alibaba on its toes recently, and that topic was the subject of a recent Wall
Street Journal piece that dug into the rivalry referred to as "the great cat and
dog war," between Alibaba and JD.com. But no matter how hard JD tries to keep up
with Alibaba, it's like the physical retailers trying to keep up with Amazon.
Alibaba just has the edge, even during times of slowed growth. This has included
Alibaba's plans to grow its global retail presence, which is being done through
recent exclusive deals that it's tied up with more than 20 apparel brands. This
deal helps propel Alibaba's mission of driving retail sales from its site
outside of China and across the globe. These newfound partnerships will enable
Alibaba to use its most popular marketplace, Tmall.com, as its landing ground
for selling the third-party brands on its platform.
'Buy now' disrupts online retail
The future of online retail lies with the 'buy now' button as users come to
expect instant gratification, a development that could also fuel growth in
scannable advertising. Consumers would see items they wanted on Facebook or
Pinterest and would then expect to be able to simply scan the image, hit 'buy'
and have it delivered. "In the very near future, consumers will care less about
'who' delivers their purchases," he added. "This will disintermediate many of
today's online shopping services," Larry Logan told Luxury Daily.
Mobile commerce is now 30% of all U.S. e-commerce
In 2015 U.S. mobile commerce sales will total $104.05 billion, up 38.7% from
$75.03 billion in 2014. Internet Retailer estimates that mobile commerce in
2015 will grow 2.58 times faster than total e-commerce sales, which Internet
Retailer projects will grow 15% this year to an estimated $350.64 billion.
Mobile accounts for 30% of Urban Outfitters' Q2
Dick's Sporting Goods online sales up 24.4% in Q2 = 7.3% of sales
Walmart opens e-commerce fulfilment centre in
Global E-commerce generates $1.2 million revenue
every 30 seconds: Study
"Fraud is not a person - it is a dynamic grouping of statistics that deviate
from the norm."
Stuart B. Levine, CFI, CFCI
CEO, The Zellman Group & Zelligent
Buckhead (Atlanta) GA: 15 thieves take $60,000 in handbags in Christian
Louboutin store smash-and-grab burglary Police said a large rock was
used to break the front window and video surveillance showed about 15 teenage
males entering the store with their faces covered. The store owner arrived and
reported that about 20 to 30 high end hand bags were missing from the store,
valued at $60,000. There were several shoe display models taken as well.
Springfield, MO: Police raid home looking for shoplifted ammo
Springfield police served a search warrant last week at the home of a man
accused of walking out of at least two different Academy Sports stores without
paying for carts full of ammunition. What authorities found, according to court
documents, was 375 boxes of ammunition, along with two rifles, dozens of gun
accessories and various sporting goods like sleeping bags, a raft and a tent.
The warrant says 315 of the boxes police recovered were rifle and pistol ammo,
and 60 of the boxes contained shotgun ammo.
St Louis, MO: Woman caught stealing $500 worth of panties from American Eagle
St Louis woman confessed to stealing over $500 worth of panties from an American
Eagle store at the South County Center. Bobbie Winston, 34, police said, took 50
pairs of panties, valued at $10 each, from displays at the store and concealed
them inside a shopping bag on July 25. According to court documents, while
walking out of the store without paying for the merchandise, Winston was
apprehended and confessed to the theft.
Detroit man arrested stealing 26 cans of baby
formula from New Hudson Walmart store
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South Burlington, VT: JC Penney Shoplifter found dead in her Cell at Chittenden
Correctional Facility; facing 6 cases for failure to appear No foul
play is suspected in the death of Kristine L. Brennan, 49, who was found
unresponsive in her cell just after 3 p.m. Monday, Lt. Brian Miller said. South
Burlington Fire and Rescue provided immediate aid and Brennan was taken to the
Univ. of Vermont Medical Center, where she was pronounced dead. Brennan had been
at the women's prison on Farrell Street since Saturday afternoon. South
Burlington Police said they arrested her on a charge of retail theft for about
$65 worth of merchandise at JC Penney at the University Mall. South Burlington
Police Chief said while processing her at the police station, city officers
found Brennan in possession of two tablets that appeared to be controlled
New York, NY: 6 charged in JFK Airport Cargo Theft; $250,000 cash
Six people have been charged in a scheme to steal mail containing an estimated
$250,000 in cash at New York's Kennedy Airport. Federal prosecutors in Brooklyn
say three of the defendants were cargo handlers who targeted international
flights transporting mail with foreign currency. They say the crew would use
currency exchange businesses at Kennedy to convert their haul into U.S. dollars.
The case is the latest targeting rip-offs of cash and merchandise by cargo
handlers at Kennedy and LaGuardia airports. There have been 12 other arrests.
Agents nabbed the latest defendants on Tuesday morning. The defendants are
scheduled to appear in court later.
Two Florida men arrested in Willoughby, Oh with cloned credit cards
Humberto Delgado-Valdes, 27, and Esniel Delgado, 20, were arrested by Willoughby
Police. The two men are from Hialeah, FL. According to police, the two males
were positively identified as using a cloned credit card of one of the victims
to make several purchases at that gas station. The suspects were purchasing
loadable Vanilla Cards in increments of hundreds of dollars. Police learned the
two males were staying for several days at the Days Inn Hotel on state Route
306. A search warrant was conducted on Monday, in which detectives recovered
more than 45 cloned credit cards and Vanilla cards.
Juneau, AK: One of two $41,000 Costco jewelry burglars sentenced
One of the two men involved in the 2014 smash-and-grab burglary at Costco was
sentenced Monday to serve four years and two months in prison for a federal drug
crime. U.S. District Court Judge Timothy Burgess imposed Stanley Van D.
Stauffer's sentence for drug conspiracy during a hearing in Juneau federal
court. Stauffer, 36, and Joseph John Finn, 32, were arrested in Juneau after
they worked together to steal about $41,000 worth of jewelry from Costco on
Sept. 17, 2014.
GA: Sonic employees arrested after 'fake' robbery Two men are charged
with lying to police about getting robbed. Cadare Bonner and Donkier Morgan told
police that two masked men held them at gunpoint last Thursday night after they
got off work at Sonic. Investigators now believe the workers either set up the
crime or made up the whole thing. "We are going to be reviewing the video tape
of the building and the surrounding area to see what else we can come up with,"
said Americus Interim Police Chief Herman Lamar. Bonner and Morgan are charged
with theft by taking, making false statements, and false report of a crime.
Lumberton, SC : Two men wanted in Jewelry Store Robbery inside Biggs Park Mall
Lumberton police need the community's help in identifying two men wanted in
connection with a jewelry story burglary. Detective Leavitt with says two men
entered McNeill's Jewelry Store on July 24, inside Biggs Park Mall and stole
several items of jewelry. While one of the suspects distracted the sales person,
the other suspect grabbed a tray of rings from inside the display counter.
Smithfield, NC: Kay Jewelers burglary suspect sought, Police release photo
Smithfield Police are looking for the suspect who they say broke into a Kay
Jewelers store on Aug. 12. Police said the suspect broke into the Kay Jewelers
on Outlet Center Drive in Smithfield.
Baltimore, MD: FBI Searching For Serial Cell Phone Store Armed Robber
The FBI is offering up a $5,000 rewards for information leading to the arrest of
a serial armed robber. Investigators say the suspect has robbed six cell phone
stores in the Baltimore area. The most recent robbery was at Cricket Wireless
store at 3226 Greenmont Avenue on August 10. The suspect could be responsible
for the following robberies as well: July 20- Cricket Wireless, July 23 - Metro
PCS, July 27- Metro PCS, Aug 1 - Metro PCS, Aug. 6 - Metro PCS.
Woman, teen arrested after stealing 59 items from
Belk at Riverchase Galleria in Montgomery, AL
Cumberland Co, TN: Cumberland County Sheriff
prevents explosion at Family Dollar
Milwaukee, WI: Witnesses help police find suspects in Foot Locker robbery
Homer Glen, IL: Man steals Menards merchandise under clothing
Mobile, AL: Two wanted by Police, accused of using credit card stolen in
Thornton, CO: Burglars steal undetermined amount of Jewelry and Cash from D&D
Cedar Hills, TX: Kay Jewelers reported a Credit Card Abuse incident, merchandise
lost was valued at $2,056
Commerce, CA: Zales Outlet reported a 4am Burglary; loss has yet to be
Abel's Quik Shop - Hannibal, MO - Armed Robbery/ Murder of clerk
Advance America - Hutchinson, KS - Armed Robbery
AT&T - Derby, KS - Armed Robbery/ Customer shot
Boost Mobile - Gulfport, MS - Armed Robbery
Burger King - Oklahoma City, OK - Robbery/ Assault
CAD Auto Parts - Oakland Park, FL - Armed Robbery/ suspect shot
CVS - Lancaster, PA - Armed Robbery/ Photo released
CVS - Houma, LA - Robbery
Dollar General - Nashville, TN - Armed Robbery
Kleins - Regina, ON, CN - Armed Robbery
Metro PCS - Jackson, MS - Armed Robbery
Sonic - Americus, GA - Employee Theft/ Staged Armed Robbery
SnoWizard - New Orleans, LA - Armed Robbery
T-Mobile - Miami, FL - Burglary
Turkey Hill - Brodheadsville, PA - Armed Robbery
Verizon - Anne Arundel Co, MD - Armed Robbery
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