Fraud Detection & Prevention

Knowing exactly how and when a transaction is suspect using real time detection with all the right information to help you make the best decision while keeping consumer experience hassle free.

Kinds of fraud

  • Stolen/Fake Card
  • Referral Program
  • Shipping scams
  • Gaming the system

Penalties & Loss

  1. Chargebacks
  2. Replacement cost of lost goods
  3. Shipping expenses
  4. Legal & Administrative costs 

User data

 

  1.   Device Fingerprint
  2.   IP Geo-Location Data
  3.   Proxy Detection
  4.   Social Graph
  5.   Customer History
  6.   Issuing Bank Data
  7.   Cross Merchant Blacklists
  8.   Transaction Velocity

Risk Scoring

  • Multiple orders placed by the same person using different credit cards
  • Do billing and shipping addresses match?
  • Is this an average order amount?  
  • Did the buyer select rush shipping?
  • Is the order for an unusual number of the same item? 
  • Is the order for very high value items? 
  • Is the shopper using a free web-based email address?  
  • Is the computing device from which the transaction originates located in a high risk region? 
  • Is the computing device from which the transaction originates associated with past fraudulent activity (check active database)? 
  • Does the shopper’s phone number have a valid area code? 
  • Does the shopper’s area code match their billing address? 

Tools for Detecting and Preventing Fraud Transactions

  1. Automated transactional risk scoring
  2. Real-time categorizing and resolution
  3. Post-purchase transaction management 
  4. Adjusting Fraud Rules and Parameters

The Benefits of Fraud Management Tools for eCommerce Merchants

  • Access fast, efficient ways to help filter out risks
  • Instantly accept or deny most orders based on easily defined and easily changed rules 
  • Quickly adjust scoring and resolution parameters to optimize results for changing business needs 
  • Reduce staff time spent on costly manual reviews of orders that don’t “fit the mold” of an ideal order 
  • Focus more staff attention on growing the business instead of thwarting fraud 
  • Stay current with the latest tactics of fraud perpetrators  
  • Reduce overall chargeback costs and use an integrated fraud dashboard to manage chargebacks that do occur

Questions?

Fraud Detection & Prevention

By ketansjain

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Fraud Detection & Prevention

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