Card Not Present Fraud , Fraud Management & Cybercrime , Fraud Risk Management

The Impending Transaction Dispute Avalanche

Ryan Battles of EY Details Increasing Friendly Fraud Trends
Ryan Battles, Principal, Financial Services Office, Ernst & Young LLP

E-commerce has skyrocketed in 2020, but so have transaction disputes. Ryan Battles of EY explains how merchants can reduce “friendly” fraud.

See Also: Live Webinar | The True Human Impact of Financial Crime

Battles says that the majority of these disputes can be classified as first-person, or “friendly” fraud.

“Roughly 65% of the disputed transactions can be classified as friendly fraud,” he says. “A lot of them are purely, ‘We just don't recognize the transaction. I don't know what this is.’ Some of it was through the disruption that we saw earlier in the pandemic because of travel. And then, as the supply chains were adjusting to the pandemic, just the general disruption caused a lot of these as well.”

In a video interview with Information Security Media Group, Battles discusses:

  • Forces driving the spike in transaction disputes;
  • The cost to retailers for dealing with transaction disputes;
  • How better merchant/consumer communication channels can alleviate the problem.

Battles is a principal in the Financial Services Office of Ernst & Young LLP (EY), where he currently leads the banking and capital markets technology solution delivery group, specializing in mortgage, consumer and commercial originations technology and operations. Over the course of his career, he has led multiple large-scale transformational initiatives at some of the largest financial institutions in the country. He has extensive experience managing large-scale modernization programs across the banking and capital markets domains.


About the Author

Nick Holland

Nick Holland

Director, Banking and Payments

Holland, an experienced security analyst, has spent the last decade focusing on the intersection of digital banking, payments and security technologies. He has spoken at a variety of conferences and events, including Mobile World Congress, Money2020, Next Bank and SXSW, and has been quoted by The Wall Street Journal, CNN Money, MSNBC, NPR, Forbes, Fortune, BusinessWeek, Time Magazine, The Economist and the Financial Times. He holds an MSc degree in information systems management from the University of Stirling, Scotland.




Around the Network

Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing bankinfosecurity.asia, you agree to our use of cookies.