Webinar: PayPal fraud - Payment platform fraud in Travel and Gift Cards
Webinar on demand – View the recording
Key takeaways
PayPal’s popularity: The convenience of single-login payment methods was emphasized, underscoring PayPal’s dominance in e-commerce.
Concerns of illegitimate accounts: The discovery of 4.5 million potentially illegitimate accounts highlighted the importance of addressing PayPal-related fraud.
Webinar poll insights: 50% of the webinar participants who participated in the poll observed an increase in PayPal fraud since the pandemic’s onset, 35% were uncertain, and the remainder saw no rise.
Diverse fraud types: Various fraud types such as Account Takeovers (ATO), Friendly Fraud, and fake account creations were discussed.
Evolving fraudster tactics: It was noted that fraudsters are becoming more sophisticated, often altering their patterns to bypass detection systems.
Challenges of Friendly Fraud: The difficulty in detecting this type of fraud was highlighted, emphasizing the need for pattern recognition.
Overpayment and phishing scams: Tactics like overpaying sellers and then seeking refunds, or using impersonal greetings in phishing scams, were identified as prevalent methods.
Fraud prevention checklist: Key recommendations include monitoring overnight shipping for high-value orders, being cautious of shipping address changes post-payment, and identifying high-risk locations.
Merchant challenges: Issues faced by merchants, such as being “disconnected” by PayPal were brought to light.
Rise in e-money fraud: A significant increase in fraudulent activities across the e-money sector was underscored, stressing the need for vigilance.
Introducing the speakers
Feel free to reach out to speakers to dive deeper.
Jari van Dijk – Revenue Ambassador, specialized in boosting profits for high-risk industries.
As a specialist in online payment processing and fraud prevention, Jari advises high-risk businesses on how to enhance checkout security and boost conversion rates with innovative strategies that maximize profits without compromising customer satisfaction.
Lisa de Vreede – Product Owner Protectmaxx anti-fraud Solution at Alphacomm.
Lisa is a seasoned expert in the realm of digital goods sales, online payments and fraud risk. As the Product Owner for Protectmaxx, our cutting-edge fraud prevention solution, she brings a wealth of knowledge to the discussion and important insights.
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