E-commerce payment fraud to exceed $25 billion annually

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A new study has found that merchant losses to e-commerce payment fraud will exceed $25 billion in 2024, from just of $17 billion in 2020, despite the ongoing implementation of SCA (Secure Customer Authentication) in Europe.

E-commerce payment fraud to exceed $25 billion annually

The research found that the popularity of e-commerce and increased card-present security with the introduction of EMV, have made e-commerce payments a compelling target for fraudsters. The research highlighted that e-commerce merchants outside Europe must adopt similar measures to SCA, including two-factor authentication, or they will suffer from increasing levels of sophisticated fraud. Payment gateways will

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Genstar Capital gives backing to formation of new insurance firm

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Private-equity firm Genstar Capital has announced that it has partnered with insurance industry executives to establish Obsidian Insurance Holdings, a new fronting insurance holding company, with US$100 million of capital.

Obsidian’s insurance carrier subsidiary, Obsidian Insurance Company, has a financial strength rating of A- from AM Best to issue policies underwritten by managing general agents, managing general underwriters and program managers. Obsidian will source, underwrite, and manage a portfolio of property, casualty, and specialty programs. It will also reinsure the majority of the business to select insurers.

Obsidian will be led by CEO William Jewett, who has more than 35

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Facebook commits $100 million to support news media hurt by virus crisis

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FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – Facebook Inc (FB.O) on Monday pledged $100 million in financing and advertising spending to support news organizations, including local publishers in the United States, reeling from pressure due to the coronavirus pandemic.

News publishers, especially print media, have taken the brunt as many advertisers pulled their marketing budgets to rein in costs because of virus-related uncertainty.

Vatican’s 160-year-old newspaper L’Osservatore Romano, which suspended printing last week, was the latest in line of a number of print

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J&J, Sanofi, Regeneron, La-Z-Boy, Apple & more

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Take a look at some of the biggest movers in the premarket:

Johnson & Johnson (JNJ) – The company announced it has identified a lead COVID-19 vaccine candidate, and plans to begin phase 1 clinical trials by September at the latest. Its intention is to have the first batches of vaccine available for emergency use by January.

Cal-Maine Foods (CALM) – The nation’s largest egg producer reported quarterly earnings of 28 cents per share, 10 cents a share above estimates, Revenue also beat forecasts and Cal-Maine said it is not seeing any supply chain disruptions as a result of the

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