Comment from Adyen Following Identity Fraud News

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Attila Doğan, Head of Revenue Protect at Adyen, says:

“Today’s research by Cifas shows identity fraud attempts against bank accounts and plastic cards continue to plague the sector. We see spikes in fraud attempts that tend to immediately follow data breaches. This can represent a significant loss for businesses and a hassle for consumers, demonstrating this is a growing concern for businesses and shoppers alike.

“Use of sophisticated technology can protect businesses against the usage of stolen card data and identities. Intelligent data solutions are vital in understanding the difference between a fraudulent transaction and one by a genuine shopper. Blocking genuine shoppers also presents a great loss in revenue for businesses.

“The key is identifying bad behaviour early and removing the friction for legitimate customers. The basis of this needs to be comprehensive access to data points to make an intelligent assessment of each transaction, which only a data rich end-to-end platform can provide.”

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