Intellicheck Offers Free Fraud Protection to Financial Institutions & Retailers as Online Fraud Soars During Nationwide Stay-...
April 28 2020 - 8:13AM
Business Wire
Intellicheck, Inc. (Nasdaq: IDN) is offering its leading fraud
fighting technology solution Retail ID Web to banks, credit card
issuers, payment providers and retailers at no cost for 90 days in
response to the explosion in online fraud during the nationwide
COVID-19 stay-at-home and limited reopening environment. Multiple
financial institutions and retailers are using this tool to stop
fraudulent account takeovers, new account openings and purchases in
this increasingly person-not-present environment.
Intellicheck CEO Bryan Lewis said fraud is attacking the
economic backbone of communities nationwide. “Criminals don’t stop
committing identity theft for a pandemic. With stores closed, they
have just accelerated online fraud. Given social distancing and
curbside pickup, we are seeing an increase in the use of stolen
credit card numbers for buy online, pickup in store transactions.
The CDC distancing guidelines also mean less bank visits and more
calls to the bank call center – leading to more account takeover
and account opening losses.”
Lewis said the company is committed to making a difference. “Our
technology, which requires no integration, just a log in to a
website, puts a stop to it for the businesses who use Retail ID Web
and their customers. We are honored to do our part by providing our
powerful online fraud fighting weapon at no cost to protect the
economic vitality of our communities.”
With more than 99% accuracy, Retail ID Web quickly and
seamlessly responds to business and consumer financial services and
purchase requests, whether through call centers or online access.
Retail ID Web deters losses associated with fraudulent account
take-overs, new account applications and purchases. Information on
terms of usage and how to obtain Retail ID Web at no cost can be
obtained through Intellicheck’s website on the contact page.
The growing cost of coronavirus-related scams adds to the
already record-setting pace of data breaches fueling incidents of
identity theft and fraud. 165 million records containing personal
data were exposed through data breaches in 2019. Javelin’s recently
released 2020 Identity Theft Survey highlighted that the $16.9
billion in losses to identity theft in 2019 is only part of the
story. The survey found account takeovers rose 72% in 2019.
Verizon’s 2019 Data Breach Investigations Report found
card-not-present fraud now accounts for nearly 75% of all
card-related fraud. Formjacking, where fraudsters steal credit card
data from online payment forms, is up 117% according to the
Identity Theft Resource Center and other research shows new account
credit card fraud climbed 88%.
About Intellicheck
Intellicheck (Nasdaq: IDN) is a trusted industry leader in
technology solutions that stop identity theft and fraud with
real-time identification authentication and age verification. We
make it possible for our clients to increase revenues, improve
customer service, and increase operational efficiencies. The
company is focused on partnering with banks, credit card issuers
and retailers to prevent fraud. Intellicheck also serves law
enforcement agencies, national defense clients and diverse state
and federal government agencies. For more information on
Intellicheck, visit us on the web and follow us on LinkedIn,
Twitter, Facebook, and YouTube.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200428005242/en/
Media and Public Relations: Sharon Schultz (302) 539-3747
Investor Relations: Gar Jackson (949) 873-2789
Identix (NASDAQ:IDNX)
Historical Stock Chart
From Jul 2024 to Aug 2024
Identix (NASDAQ:IDNX)
Historical Stock Chart
From Aug 2023 to Aug 2024