Showing posts with label fraud. Show all posts
Showing posts with label fraud. Show all posts

Tuesday, November 29, 2016

Happy Christmas Campers

FROM THE INBOX:

Just off phone with Co-Founder John Daniels and boy is he excited!!!

We have 21  Stryde cases in the hopper and 4 of them already have contracts and all documents signed.
Minimum $$$ recapturing for each of these 4 biz owners is $400,000.

Some of you are gonna be happy campers.


Also he told me another  of our $1,000,000 + Merchant accounts isnow  active with their multiple  terminals.

We will be able to post a copy of the  40% commission check when issued.  Gonna be a shocker for sure!

Mike
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ALSO FROM INBOX:

Received an urgent email from a dry cleaner merchant who refused to get a chip terminal last year when we asked him to -- he just got hit with a $75 fraud charge due to NO CHIP so now he is begging for that free emv terminal!

Hmmmm... should we hurry one to him or not?


Just kidding; WE WILL, OF COURSE!   And now might be a good time for you to check back in with those stubborn Anti-EMV merchants from your past!

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Happy Free Chip Readin' Terminal Snowman!







Monday, November 14, 2016

The Un-dead Horse



Image result for fall excitement almost here      IT'S COMING~~

It'll be here before you know it!

Stay tuned for incredible news from the DW/Stryde front.  Some of that news may be from YOUR team!
 Image result for fall border clipartImage result for fall border clipart
 The easiest approach to a merchant IN THE UNIVERSE surely must be ours with Digital World:  

"Our company helps business owners recover, recapture and reduce business expenses -- over $400 million has been recovered for our clients in the past decade.  Just schedule a NO OBLIGATION 15 min. Discovery Call today."
 There is no upfront cost to the merchant:  if we don't get them MONEY, they don't owe us a dime!  It's Christmas in November already!

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Great training with EPI Exatouch expert tomorrow:   check your interface for details!

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Talk fraud to your merchants:

Point-of-sale credit card theft has remained high in the U.S., where 47 percent of all credit card fraud occurs, though the country only represents 24 percent of worldwide credit card volume, according to CreditCards.com.
A full one quarter of American cardholders have been victims of card fraud.  And it's because here, old credit card technology is still widely in use.
Craig Shearman, vice president of government affairs and public relations at the National Retail Federation, said the U.S. has been slow in adopting the latest and greatest credit card tech and moving on from the magnetic strip.
"That magnetic strip is about as sophisticated as an eight-track tape from the 1980s," he said.
Magnetic strips are relatively easy to copy. And blank magnetic strip cards, at the same time, are easy and legal to come by. The strip technology on your credit and bank card is the same technology hotels use today in throwaway guest room keys.
But there is a better credit card technology out there, said Shearman, and it is  The EMV (short for Europay MasterCard Visa) card, equipped with a more secure data chip, is currently being ushered into wide use by American card users. Chip cards create a unique code at every purchase, making it much more difficult to create a fraudulent copy.
Chip cards also emit a signal at each purchase, signaling legitimate use.  "It's not something that's as easy to create as a magnetic strip," said Shearman.
Retailers across the country were given an October 2015 deadline to begin implementing chip card technology in stores. So far, around 1.6 million stores locations — or one-third of all store locations — are chip card-enabled, according to MasterCard.

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 This horse isn't dead: that's why we keep beating it!



U.S. Credit Card Fraud Could Top $10 Billion by 2020

New card fraud protection technology has been slow to catch on in the United States. 

 Source: http://losspreventionmedia.com/insider


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Get some  merchants set up for a Stryde audit  this week and let them know some of the above info --- that will lead to Good Stuff!  For them and for you! 


Image result for fall clip art
 

Monday, June 27, 2016

From John Daniels, update on fraud for those merchants without chip readers: (copy and paste for your merchants to read)

PAYTHINK
It Is Possible for Merchants to Accelerate Chip Card Acceptance
By Xavier Giandominici

June 16, 2016


Despite some early success, it can’t be ignored that there are still many merchants that cannot accept EMV chip cards.

That's not because they haven’t started their migration, but because the payments applications developed by their VAR, ISO and ISV partners or themselves have not yet been certified.

Now, merchants are starting to see their chargebacks mount—chargebacks for card-present transactions increased 50% following the liability shift. While not all chargebacks are due to the chip card migration, it has become a significant point of motivation for merchants in trying to accelerate their chip card acceptance programs.

With this surge of organizations now trying to get through the testing and certification process, they have overwhelmed the industry's resources and created a certification backlog. But this isn’t the only reason for the backlog— we’re also seeing that when many merchants finally get to the front of the certification “rush hour” line their application fails to pass certification.

This not only frustrates the merchant and delays their plans of chip card acceptance, it also compounds the traffic jam and makes the backlog problem worse. When an organization fails the certification test, acquirers and other certifying entities need to spend more time with them to identify why they failed and assist them in resolving the problem. Eventually, the certification has to be resubmitted, further stressing the capacity.

The good news is, there is something merchants can do to not only make their trip through the certification backlog more successful, but make it successful the first time: call a DW Agent!

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Advanced training with Mike Lammons:






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Wednesday, June 15, 2016

From John




ATTENTION BUSINESS OWNER:  want to reduce operational costs and increase profits?


Digital World offers YOU a way to recover, recapture, reduce and save money on your top business expenses.  Digital World Audits Serve Many Industries:

DW is known for excellence in merchant card processing, but we also offer a wide variety of merchant solutions to a wide variety of industries. We bring complex specialized tax incentives to small and midsize business owners, without a hassle. We understand most owners are focused on their core business, and do not have the time or resources to look for available programs.  We have hundreds of specialists available to work for you!

Our team understands the value of your time, and will work quickly to determine which programs you may qualify for. In as little as 15 minutes we can determine if you qualify for any programs, and even provide an estimate of how much benefit you may be looking at.

If you meet any of the following criteria:
  • Own Commercial Property
  • Directly Employ U.S. Staff
  • Pay Real or Personal Property Tax
  • Pay State or Federal Income Tax
You should call us today!

Our programs, from hiring incentives to credit card processing and everything in between, fit each businesses’ special needs, while delivering outstanding customer service, superior rates, and state-of-the-art technology. We have over 15 years of successful business-to-business experience. With our excellent support, our free equipment offer, and our unique 45-day and $500 guarantees, we give both honesty and integrity.  A+ rating with Better Business Bureau!

We get paid for performance:  contingency fee only.  We have recovered over $400 million for our clients in the past decade.  Call to schedule your Discovery Call today.

CONTACT:   

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Feel free to copy-and-paste the above for your own biz building!  

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Congratulations to all the Agents who have signed on new Merchants this week!  You guys (and girls) are amazing!  Neat story:  an Agent worked with a private school last year to get them as a Merchant....apps were sent back and forth but the 'deal' was never signed.  That was last year this time.  

Last week, school reconnects with Agent and sent along the app they had held onto since last year!  Agent got them a current app which they have completed and submitted.  

Lesson:  just get your info out to all the merchants you want to -- you never know when they will get everything in but sooner or later, watch out!

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FROM CO-FOUNDER JOHN DANIELS:


You might want to get this out to everyone. If you remember I talked about the fact that everyone would wait to the last minute and the thing that would move them was the bad publications. That is starting to happen that is why it was important to get those post cards in the hands of  the merchants because there will be many, many, more articles about merchants having to pay all the fraud. It is coming. It took a little longer than what I predicted, Jan, & Feb.



09
JUN 16
There’s the Beef: Wendy’s Breach Numbers About to Get Much Meatier
When news broke last month that the credit card breach at fast food chain Wendy’s impacted fewer than 300 out of the company’s 5,800 locations, the response from many readers was, “Where’s the Breach?” 
Today, Wendy’s said thenumber of stores impacted by the breach is “significantly higher” and that the intrusion may not yet be contained.
On January 27, 2016, this publication was the first to report thatWendy’s was investigating a card breach. In mid-May, the company announced in its first quarter financial statement that the fraud impacted just five percent of stores.
But since that announcement last month, a number of sources in the fraud and banking community have complained to this author that there was no way the Wendy’s breach only affected five percent of stores — given the volume of fraudthat the banks have traced back to Wendy’s customers.
What’s more, some of those same sources said they were certain the breach was still ongoing well after Wendy’s made the five percent claim in May.
Today, Wendy’s acknowledged in a statement that the breach is now expected to be “considerably higher than the 300 restaurants already implicated.” Company spokesman Bob Bertini declined to be more specific about the number ofstores involved, citing an ongoing investigation. Bertini also declined to say whether the company is confident that thebreach has been contained.
“Wherever we are finding it we’ve taken action,” he said. “But we can’t rule out that there aren’t others.”

The company also emphasized that all of the breached stores were franchised — not company-run — entities. Here is the statement that Wendy’s provided to KrebsOnSecurity, in its entirety:
Based on the preliminary findings of the previously-disclosed investigation, the Company reported on May 11 that malware had been discovered on the point of sale (POS) system at fewer than 300 franchised North America Wendy’srestaurants. An additional 50 franchise restaurants were also suspected of experiencing, or had been found to have,other cybersecurity issues. As a result of these issues, the Company directed its investigator to continue to investigate.
Iand the number of franchise restaurants impacted by these cybersecurity attacks is
now expected to be considerably higher than the 300 restaurants already implicated. To date, there has been no
indication in the ongoing investigation that any Company-operated restaurants were impacted by this activity.
Many franchisees and operators throughout the retail and restaurant industries contract with third-party service
providers to maintain and support their POS systems. The Company believes this series of cybersecurity attacks
resulted from certain service providers’ remote access credentials being compromised, allowing access to the POS
system in certain franchise restaurants serviced by those providers.
The malware used by attackers is highly sophisticated in nature and extremely difficult to detect. Upon detecting the
new variant of malware in recent days, the Company has already disabled it in all franchise restaurants where it has
been discovered, and the Company continues to work aggressively with its experts and federal law enforcement to
continue its investigation.
Customers may call a toll-free number (888-846- 9467) or emailPaymentCardUpdate@wendys.com with specific
questions.
Wendy’s statement that the attackers got access by stealing credentials that allowed remote access to point-of-sale
terminals should hardly be surprising: The vast majority of the breaches involving restaurant and hospitality chains
over the past few years have been tied to hacked remote access accounts that POS service providers use to remotely
manage the devices.
Wednesday’s story about a point-of-sale botnet that has stolen at least 1.2 million credit cards from more than 100
Cici’s Pizza locations and other restaurants noted that Cici’s point-of-sale provider believes the attackers in this case
used social engineering and remote access tools to compromise and maintain control over hacked cash registers.
Once the attackers have their malware loaded onto the point-of-sale devices, they can remotely capture data from each
card swiped at that cash register. Thieves can then sell the data to crooks who specialize in encoding the stolen data
onto any card with a magnetic stripe, and using the cards to buy gift cards and high-priced goods from big-box stores
like Target and Best Buy.
Many retailers are now moving to install card readers that can handle transactions from more secure chip-based credit
and debit cards, which are far more expensive for thieves to clone.
Gavin Waugh, vice president and treasurer at The Wendy’s Company, declined to say whether Wendy’s has any
timetable for deploying chip-based readers across it’s fleet of stores — the vast majority of which are franchise
operations.

Wednesday, June 8, 2016

All you need to know about Cost Audits... and much more!

Jim Colip of IBPS on with you ---

Thursday, Jun 9, 2016      5:00 PM  PDT

Please join meeting from your computer, tablet or smartphone.

https://global.gotomeeting.com/join/908571093

You can also dial in using your phone.

United States +1 (872) 240-3212
Access Code: 908-571-093

Join Meeting


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From DW Co-Founder John Daniels:
"Please make sure that  All the information that we have received about fraud is part of our presentation to those merchants who do not have up to date emv equipment. Many do not understand they they will be paying a lot of money over the next year in  fraud losses." 




U.S. Card Issuers Lose $10.9B Annually to Fraud: LexisNexis



By Tanaya Macheel


With Credit Cards Accounting For 71% of Losses, Study Authors Anticipate a Rush of Counterfeit Card Fraud as Mag Stripe Window Closes and EMV Takes Hold


U.S. card issuers lose $10.9 billion each year to card fraud, according to research released Tuesday by LexisNexis Risk Solutions.


Credit cards account for $7.6 billion (71%) of overall losses to card fraud; debit accounts, $2.7 billion (25%) and prepaid cards, $500 million. LexisNexis collaborated with Javelin Strategy and Research on the online survey of 100 risk and fraud decision-makers and influencers working at U.S. card issuers.
EMV chip technology is the strongest defense against fraud at the point of sale, Michael C. Smith, director of fraud market planning and author of the study, said in a June 6 news release. But as the U.S. payments industry continues to roll out EMV security, issuers are expecting an increase in certain types of fraud that EMV does not protect.

"With the window closing on easily replicable magstripe cards, we forecast a shift and bump in identity schemes —characterized by the use of synthetic identities and the misuse of true identities," he said in the release.

Application fraud – when someone opens an account using fake or stolen documents in another person’s name – and account takeover – usually the result of phishing, spyware or malware scams – represent the two most harmful types of fraud, each of which represents 20% of total fraud losses. Counterfeit card fraud represents 16% of losses and card-not-present fraud is expected to increase with or without EMV in place.

The misuse of payment cards that are lost or stolen (28% of fraud losses) and nonreceipt fraud (15%) – when the card is intercepted in the mail before the legitimate cardholder receives it – represent the biggest challenges to issuers’ ability to distinguish fraud committed by the cardholder and a fraudster, according to the study. Since EMV protects against counterfeit fraud, stolen and nonreceipt card fraud are unaffected by its protections

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Excellent webinar with DW Top Agent Rick Andersen!  If you missed it, BE SURE to catch the recorded version as soon as it's posted.  You will want guests to hear it, too!  Rick makes a clear and compelling case for building a DW biz based on his decades as a successful 'traditional' businessman.


Thanks, Rick!
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More on Fraud:



Best and Worst States regarding Credit Card Frauds Complaints reported by US Costumers per 100,000 Inhabitants
States with Highest Credit Card Frauds Complains
%

States with Lowest Credit Card Frauds Complains
%
District of Columbia
50.69%

North Dakota
5.94%
Nevada
36.02%

Wyoming
7.01%
California
34.75%

Vermont
7.03%
New York
30.97%

Iowa
7.12%
New Jersey
30.83%

Mississippi
7.42%
Source: Consumer Sentinel Network, Annual Reports 

From wiki:

Although incidence of credit card fraud is limited to about 0.1% of all card transactions, this has resulted in huge financial losses as the fraudulent transactions have been large value transactions. In 1999, out of 12 billion transactions made annually, approximately 10 million—or one out of every 1200 transactions—turned out to be fraudulent.[3] Also, 0.04% (4 out of every 10,000) of all monthly active accounts were fraudulent. Even with tremendous volume and value increase in credit card transactions since then, these proportions have stayed the same or have decreased due to sophisticated fraud detection and prevention systems. Today's fraud detection systems are designed to prevent one twelfth of one percent of all transactions processed which still translates into billions of dollars in losses.[3]
  
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DIGITAL WORLD:  always and ONLY in the Business of Helping Businesses!

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Tuesday, September 8, 2015

Now is the Time!!

FROM THE INBOX:

In the 115 year history of Network Marketing-- here is a fact: Sept, Oct & Nov are the MAIN months to build a foundation for following year. Now is the time!


Enroll TEN new Agents personally by end of November and watch what happens in 2016. And U will make an EXTRA $1,000 for XMAS 2015. We plan to do this-- How bout You????

Mike
Michael R. Lammons
National Director
Digital World Pay
559 824 3254 Cell & Text
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AD from DWP Agent on SmartGuy.com...doesn't this give you ideas for your own market?

"Looking for Best Credit Card Processor San Diego CA? We will beat your best credit card processing rate or pay you $500.00. Merchant accounts can be set up in one day. We offer free terminal and free gift card with each merchant account. We make credit card processing seamless and easy without any interruption. Our wireless mobile processing is in a class by itself with no monthly gateway charges. There are no hidden charges not even a PCI charge and no contract or early termination fees. If you are in San Diego CA and are looking for Best Credit Card Processor, please call 219-916-xxoo."
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Digitally sharing your DWP biz is a wise addition to your biz arsenal. From Slideshare.net "Crisis in Digital Communication":

3-Screen Approach 
Average Consumer Has… 
+Television on the wall 
+Laptop on lap 
+Cell phone in hand, texting/surfing 
F...




Consumers Seek Further Information 
• Intent to find out more information makes 
SEARCH results critical during a crisis 
...
Search Advertising 
Search ads are the most persuasive form of digital advertising 
• 41% of people don’t know difference ...Oops! There’s a Problem 
• The first place people go to find out more 
information on a breaking news event or 
crisis is ...
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Random emv terminal prices from the web just now ...  remember you GIVE AWAY state-of-the art  all-in-one emv, Apple Pay, NFC, and Google Wallet  terminals!


Verifone Mx830 EMV - Grey Scale Signature Capture Pin Pad (M094-309-04-R)

$510.00
Google Trusted StoreCardMachi...
Verifone VX 820 PIN Pad EMV (M282-703-03-R-3)

$235.00
Google Trusted StoreCardMachi...
UIC PP790 EMV Pin Pad (RH3DKD3UA)

$255.00
Google Trusted StoreCardMachi...
UIC PP795-EMV Signature Capture Pin Pad (NM0DKDOUB)
$395.00
Google Trusted StoreCardMachi...
USB SMART CARD READER (ROM)
$13.99
Google Trusted StoreTigerDirect....
First Data FD130 DUO WiFi Terminal and FD-35 EMV/NFC PIN Pad Combo
$441.50
Google Trusted StoreCardMachi...

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The Threat of Fraud And Fines For Small Businesses Not Prepared For The EMV Deadline

 The upcoming EMV deadline is quickly approaching – with October 1, 2015, less than a month away. Many big box merchants, such as Target TGT +1.42%, have already made the shift in accepting chip-enbabled credit cards, however many small businesses have yet to prepare. 

This new study offered insight as to why merchants haven’t adopted this new technology yet, with the report identifying that 34% say they don’t have the time to research and implement it, while 33% say it’s too expensive to adopt and a surprising 23% say its unnecessary. 

With this mind, small businesses need to be aware that they may be held responsible for in-store fraud if they have not adopted the necessary chip technology in our not-too-far future. Likewise, banks will be held responsible if they have not the made necessary adjustments for this upcoming change, either.

Mark Ranta, Senior Solution Consultant for Retail Banking, ACI, explains that “the consequences could be potentially devastating” for small businesses who don’t make necessary changes.
Small businesses risk devastating consequences if they aren’t prepared. This is especially true if they are running on tight margins to begin with. Once the liability shift occurs, if the proprietor accepts a fraudulent charge via swipe, they will be held liable for that charge if the terminal is not EMV compliant. The shift moves the liability from the issuing bank to the merchant, so the consequences are more of the roulette variety – they could be devastating or they could be a non-event,” explains Ranta.

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Don't let your merchants miss the boat.