In the latest episode of The Voice of Retail, host Michael LeBlanc speaks with Yale Holder, Vice President of Customer Experience at Moneris, about emerging retail fraud prevention trends and strategies for payment security. Drawing on Moneris’ extensive transaction data—covering billions of annual payments—Yale explains how fraud cases in 2024 dropped by 15% overall, primarily due to increased awareness and more widespread adoption of secure payment technologies. Despite this good news, he notes that the real challenge lies in underreported incidents, signalling that fraud may still be more prevalent than official numbers suggest.

Moneris Fraud Resources

https://www.moneris.com/en/solutions/fraud-prevention/resources

A key issue is mail order and telephone order (MOTO) fraud, which accounts for 62% of reported cases. According to Yale, criminals gravitate toward the easiest targets, and card-not-present transactions remain especially vulnerable. He recommends that retailers of all sizes adopt secure online gateways for phone or email orders rather than manually keying in credit card numbers. Yale also highlights how modern point-of-sale systems, such as Moneris’ new generation of devices, have built-in tools—like secure payment links—that help small businesses reduce fraud exposure.

While online fraud decreases thanks to built-in multi-factor authentication and centralized security measures, in-person fraud rises through “crimes of opportunity.” One growing concern is refund fraud involving stolen terminals, representing nearly a third of reported cases. Yale urges retailers to implement strong password protection on every terminal and to store portable devices securely. He underscores that these simple, often-overlooked steps can dramatically reduce refund fraud and terminal theft.

Regional insights reveal that Ontario leads with around 40% of reported fraud due to higher transaction volumes, followed by Quebec at 30%. Saskatchewan stands out for its high incidence of employee refund fraud, emphasizing the need for tighter controls and individual employee logins. Meanwhile, Alberta shows an uptick in account takeover, underscoring the importance of guarding personal and business information against phishing attacks.

Throughout the conversation, Yale returns to a central theme: proactive fraud prevention is far less costly than remedial action. He stresses immediate reporting of suspicious activity and diligent monitoring of transactions, enabling acquirers like Moneris to reverse or block fraudulent payments. From robust password protocols to leveraging secure e-commerce gateways, Yale’s guidance provides retailers with clear, actionable strategies to safeguard revenue and maintain consumer trust. Ultimately, the episode serves as both a wake-up call and a resource for merchants seeking to stay ahead in the evolving world of retail fraud.

Michael LeBlanc is the president and founder of M.E. LeBlanc & Company Inc, a senior retail advisor, keynote speaker and now, media entrepreneur.  He has been on the front lines of retail industry change for his entire career. 

Michael has delivered keynotes, hosted fire-side discussions and participated worldwide in thought leadership panels, most recently on the main stage in Toronto at Retail Council of Canada’s Retail Marketing conference with leaders from Walmart & Google.  He brings 25+ years of brand/retail/marketing & eCommerce leadership experience with Levi's, Black & Decker, Hudson's Bay, CanWest Media, Pandora Jewellery, The Shopping Channel and Retail Council of Canada to his advisory, speaking and media practice.

Michael produces and hosts a network of leading retail trade podcasts, including the award-winning No.1 independent retail industry podcast in America, Remarkable Retail with his partner, Dallas-based best-selling author Steve Dennis; Canada's top retail industry podcast The Voice of Retail and Canada's top food industry and one of the top Canadian-produced management independent podcasts in the country, The Food Professor with Dr. Sylvain Charlebois from Dalhousie University in Halifax.

Rethink Retail has recognized Michael as one of the top global retail experts for the fifth year in a row, the National Retail Federation has designated Michael as on their Top Retail Voices for 2025, Thinkers 360 has named him on of the Top 50 global thought leaders in retail, RTIH has named him a top 100 global though leader in retail technology and Coresight Research has named Michael a Retail AI Influencer.  If you are a BBQ fan, you can tune into Michael’s cooking show, Last Request BBQ, on YouTube, Instagram, X and yes, TikTok.

Michael is available for keynote presentations helping retailers, brands and retail industry insiders explaining the current state and future of the retail industry in North America and around the world.