15 Aug

A Masquerade of Fraud

The Many Faces of Merchant Bust-Outs

According to ACI Worldwide, 50% of bust-out merchant fraud cases go unnoticed. Bust-out merchant fraudsters rack up high volumes of illegal transactions and then disappear, leaving others responsible for the subsequent chargebacks. As in a masquerade ball, fraudsters are able to go unnoticed, appearing to blend in as good merchants. Since different types of bust-out merchant fraud takes advantage of different aspects in the payments processing cycle, knowing the different types of merchant bust-out fraud can help lower the rate of undetected cases.

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15 Aug

Putting a Stop to the Cyclical Life of Bust-Out Fraud

A Look at Merchant Bust-Out Fraud

Highlighted by the breaches at Target, P.F. Chang’s and most recently StubHub, it seems the frequency of merchant fraud increasingly is making headlines. With that surge, it’s important to take a closer look at the different types of fraud you may encounter in order to be better prepared to combat them. Bust-out merchants, for instance, can be hard to spot as they have learned and adapted in order to go longer unnoticed.

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27 Nov

Bust-Out Merchant Tactics and Fraud Prevention Strategies

The payments industry continues to make advancements in fraud prevention and protection, leaving fraudsters to find more creative ways to cheat the system. One of the fastest growing fraud schemes today is bust-out merchants, fraudulent merchants that rack up transactions, steal money, and then close down shop before being caught. By the time the acquiring bank receives a chargeback notification, the merchant is already gone, leaving the acquiring bank responsible for chargebacks and any additional fees they incur as a result.

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