Intellicheck’s Technology Saves Retailers and Consumers From Black Friday Fraud Losses as Chinese Fake ID Seizures Highlight Ongoing Risks
Intellicheck, Inc. (IDN)
NASDAQ:AMEX Investor Relations:
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Source: Business Wire
MELVILLE, N.Y.--(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
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