Intellicheck’s Technology Saves Retailers & Consumers From Black Friday Fraud Losses as Chinese Fake ID Seizures Highlight ...
December 05 2019 - 8:13AM
Business Wire
Intellicheck (NYSE AMERICAN: IDN) President and CEO Bryan Lewis
says the company’s state-of-the-art technology solutions, driven by
Retail ID and Retail ID Online, saved retailers, consumers and
financial institutions from millions of dollars in potential losses
on Black Friday. Early data shows attempted fraudulent purchases at
retailers using Intellicheck’s fraud detection solutions jumped
across key retail categories during the Black Friday sales event
compared to pre-Black Friday fraudulent purchase attempts. The
company’s Retail ID SaaS solutions halted an attempted 77% increase
in fraudulent purchase attempts at specialty retailers, a 57%
increase in fraudulent transaction attempts at tool and equipment
retailers and a 22% increase in fraudulent purchase attempts at
furniture retailers. The new data comes as the problem of fake IDs,
which power identity theft and fraud, again drew national attention
with the U.S. Customs and Border Protection (CBP) announcement of
the seizure of nearly 3,000 fake driver’s licenses and more than
3,100 blank card stocks used to create fake IDs.
Retail ID and Retail ID Online provide real-time identification
authentication that prevents fraudsters from using stolen
information to perpetrate fraudulent transactions, while delivering
a frictionless customer experience. The cutting-edge technology
solutions can be deployed on mobile devices including tablets and
smartphones as well as online and on point of sale systems that
store associates use for day-to-day operations.
Lewis said identification authentication and verification is
critical to protect consumers. “The CBP seizure is just the tip of
the iceberg. Fake IDs from China and other international and
domestic sources are flooding the country and it’s no surprise.
This year’s record-setting pace of data breaches has given crooks a
wealth of personally identifiable information that fuels the supply
of sophisticated fake IDs used in identity theft. With more than 14
million victims of identity theft in the U.S. annually, consumers
understand these threats are real and very serious. In fact,
consumers are sending retailers the very pointed message that they
blame the retailer and will take their business elsewhere when
their data is compromised. It’s clear that retailers must act to
put proven solutions in place to protect their bottom line and the
consumers who entrust them with their sensitive data.”
Retail ID and Retail ID Online have been deployed at more than
17,000 retail locations nationwide. The advanced technology
solutions deliver real-time identification authentication that is
more than 99% effective allowing retailers to realize the benefits
of fraud prevention instantly and affordably, while protecting
consumers from the devastating impact of ID theft and fraud.
About Intellicheck NYSE American: IDN Intellicheck 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. Under new direction, 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
http://www.intellicheck.com/ and follow Intellicheck on Twitter, on
Facebook, on LinkedIn and on YouTube.
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