Retail Decisions Provides Valuable Tips To Online Retailers.Where Will They Strike? Predicting Activity of Online Fraudsters during Holiday 2006 HAZLET, N.J. -- There is a swelling army of invisible thieves, perhaps the worst kind, who are pillaging online merchants via stolen credit and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. information. Criminals use stolen credit and debit card information to fraudulently purchase items for resale. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Retail Decisions (ReD), a world leader in card fraud prevention and payment processing, during holiday season 2006, online purchasing activity is predicted to peak for major retailers, December 11th, between 2:00PM and 3:00PM EST EST electroshock therapy. EST abbr. electroshock therapy . If Black Friday Black Friday, Sept. 24, 1869, in U.S. history, day of financial panic. In 1869 a small group of American financial speculators, including Jay Gould and James Fisk, sought the support of federal officials of the Grant administration in a drive to corner the gold was an early indication of how the number of transactions and volume of sales will increase, ReD is expecting to identify and stop greater volumes of attempted fraud this year. On a like for like basis, ReD saw volumes increase by 109% on Black Friday for its U.S. clients. Unfortunately, merchants without a sophisticated fraud prevention system will see fraudulent product purchases skyrocket. "Through our global fraud prevention services and payment processing, we record and analyze a significant portion of online purchases from some of the world's largest retailers." said Carl Clump, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Retail Decisions. "Each year, we analyze our data to provide trends for online purchase activity. We now have a good idea of the items that will be targeted by fraudsters during the 2006 holiday season." The top categories of products purchased fraudulently during 2006 up to Black Friday, were gift cards, electronics, tools, jewelry and apparel. By way of an example, attempted fraudulent transactions for one online mass merchant in November included 930 tool sets (valued at total $32,836), 738 gift cards (valued at total $26,895), 70 home theatres (valued at total $22,986) and 58 LCD widescreens at $59,983 total value. 89% of attempted fraudulent purchases were below $1000. How to spot a Fraudster fraudster Noun a person who commits a fraud; swindler Fraudsters typically: * Use free email domains, * Are urban dwellers * Want their items quickly - 56% of fraudulent orders are next day or two day delivery whereas only nine percent of genuine customers ask for next day delivery online. * Spend 2.5 times more than genuine consumer * Bundle their purchases with an average of four items at a time; legitimate customers typically purchase one or two items per transaction. ReD's fraud prevention service maximizes the number of transactions that can be safely accepted whilst minimizing the consumer's and retailer's exposure to fraudulent transactions. Some of ReD's clients include, Federated Connected and treated as one. See federated database and federated directories. Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , Walmart.com, Travelocity, and The Finish Line, Inc. About Retail Decisions Retail Decisions (ReD) is a payment card issuer and world leader in card fraud prevention and payment processing. A specialist supplier to the payments industry worldwide, ReD has over 18 years experience in the fraud prevention market. Its blue-chip international clients come from the global telecommunications, retail, travel, petroleum, logistics, banking and the broader e-commerce sectors. They include Wal-Mart, Macy's, Bloomingdale's, Tesco, Texaco, Shell, Asda, Comet, Travelocity, T-Mobile and Virgin Mobile. Based in the UK, the company has offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Australia and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. with representation in Japan and South America. More information about ReD is available at www.redplc.com. |
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