Once upon a time, there was a small business owner named Alice, who fought to keep her retail establishment afloat amid the stormy seas of a global pandemic. Like many other merchants, she embraced the digital revolution and moved her store online. This allowed her to reach more customers and keep her business buoyant. Her store, Alice’s Wonderland, offered a vibrant range of local handicrafts that started garnering attention on social media. It was a tale of small business success.

Ali Solehdin – The Banking Exchange In 2022 alone, the Supplemental Nutrition Assistance Program (SNAP) distributed over $113.9 billion to nearly 22 million households across the United States. This figure represents an increase of over $5 billion from the year prior and nearly a $40 billion increase from 2020. Unfortunately, as the SNAP allocation has increased, criminals — from individuals to organized crime rings — have stolen an increasing share of these benefits.

It’s the third day of your long-awaited vacation. While relaxing at the beach, you hear a not particularly welcome chime on your phone (because who takes a vacation from their phone), indicating a new email notification. Your bank notifies you that a significant transaction has been made on your account― a purchase you immediately realize you didn’t authorize. Your heart pounds as you log into your banking app only to find your account empty.

Picture a quaint, small town enveloped in the tranquility of a peaceful night. The only signs of life are flickering street lamps and the glow from the neighborhood automated teller machine (ATM). You spot someone approach the ATM, withdraw cash and walk away. It all looks so normal. What you don’t realize is that you have just witnessed a fraud attack, specifically, transaction reversal fraud (TRF).

It’s a typical Monday morning. You’ve just brewed a comforting cup of tea and are about to dive into the weekend sales reports for your online store. As usual, business seems to be booming until a glaring anomaly catches your eye – an alarmingly high number of transaction reversals over the weekend. A sense of unease creeps in as you probe deeper, only to uncover a chilling truth. Your business has become the latest prey to an insidious form of fraud, chargeback fraud.

Picture a quaint, small town enveloped in the tranquility of a peaceful night. The only signs of life are flickering street lamps and the glow from the neighborhood automated teller machine (ATM). You spot someone approach the ATM, withdraw cash and walk away. It all looks so normal. What you don’t realize is that you have just witnessed a fraud attack, specifically, transaction reversal fraud (TRF).

VANCOUVER, B.C. June 15, 2023 – BC Tech is proud to announce the finalists across 9 Technology Impact Award categories who achieved exceptional success in the past year. As BC Tech celebrates the 30th Anniversary of the Technology Impact Awards, this year’s awards celebrates 30 years of innovation in BC.

You’re in your favorite coffee shop, which you’ve frequented for years. The barista knows your order by heart – a medium, iced, sugar-free vanilla latte with soy milk. As you pay for your coffee, you casually chat with the staff about the weather, completely oblivious that you’ve just been the victim of fraud.

Scott McClallen – Staff Reporter – The Center Square (The Center Square) – Nationwide, electronic benefits transfer fraud is estimated to cost taxpayers up to $4.7 billion annually, according to the Government Accountability Office. In 2022, the Supplemental Nutrition Assistance Program distributed over $113.7 billion to nearly 22 million households. The federal government entrusts states to reduce fraud in safety net programs. In March, the U.S.