Fraud Best Practices & Emerging/Continuing Fraud Trends
Fraud case management tools are systems that accumulate internal and external data specific to the transaction and cardholder such as IP addresses, email addresses, geolocation, previous purchase history, billing addresses, etc. For each transaction, assigning risk at the time the order is placed. Some case management tools include a rules based fraud scoring system, assigning a score for each risky attribute of an order based on linear rules set by either the merchant or the provider. Others rely on machine learning to determine the risk of an order and others combine both rules and machine learning. Many can be used to create rules or rely on machine learning to automatically pass low-risk transactions, reject high-risk transactions and flag transactions for manual review. Orders can be canceled or accepted manually (during manual review) or through automatic rules, dependent on risk factors.
MERCHANTS OFTEN USE THIS FOR:
Standard CNP payment fraud; most CNP companies use a fraud case management system (in-house or 3rd party) to assess the risk of all fraud types, and augment with additional verification tools to assist in identifying specific fraud types.
- Preventing Mobile Fraud in 5 Steps | Merchant Guide
- Fraud vs. Friction: How Barneys Prevents Fraud While Improving the Customer Experience | Webinar
- Synthetic ID Fraud | Merchant Guide
- Bot Management: An Overlooked Layer in Account Takeover Defense | White Paper
- The Silicon Valley Perspective on Payments and Fraud: 5 Trends Every Online Retailer Should Know | Webinar
- Attack Account Takeover Fraud in 5 Steps | Merchant Guide
- Fight back: Preventing Account Takeover Attacks | Webinar
- Account Takeover and Account Creation Fraud | White Paper
- 5 Steps to Help Fix Your Fraud Problem | Merchant Guide
- Eliminate Friction by Investing in the Right Fraud Prevention Tools: Report | Article
Preventing Mobile Fraud in 9 Steps | Merchant Guide
Last year, the share of online purchases transacted on mobile devices grew to nearly 60% worldwide and fraudsters are following consumers. As fraud professionals, we have only slowly come to understand that fraud perpetrated via mobile is significantly different
When consumers think of security, they always think of friction—complicated password requirements, difficult to remember security questions, and continual demands to answer the question, "Are you a robot?” These measures lead to customer frustration and cart abandonment. DJ is joined by Arthur Fontanilla from Barneys New York and Niki Aggarwal from Shape Security as they examine why the fraud landscape changed at Barneys, how they shifted the burden of security from their customers to fraudsters and discuss actionable ways all retailers can reduce fraud while also reducing customer friction.
Synthetic ID Fraud | Merchant Guide
Synthetic identity fraud is reported to account for 80% of new account fraud with over $800 million in losses last year and a growth rate of 35% year-over-year. Average losses are estimated at over $10,000 per account and organized crime is heavily involved. As a merchant, you need very specific knowledge to root out these potentially huge liabilities. Get our Merchant Guide to understand what synthetic ID fraud is and the factors driving its record growth, learn the various methods fraudsters use, reveal the challenges that make detecting synthetic ID fraud so difficult, recognize the specific indicators of synthetic ID fraud and find out how to attack this growing fraud type.
Bots are able to test hundreds of millions of username/password combinations stolen in data breaches across the Internet at scale, yielding a significant number of valid login credentials fraudsters can then use to take over accounts, becoming the most dangerous
The Silicon Valley Perspective on Payments and Fraud: 5 Trends Every Online Retailer Should Know | Webinar
Most online retailers are leaving money on the table. In this webinar, DJ is joined by Loren Kelley and Rob Simpson from Bolt as they debunk myths on big data, machine learning, and blockchain and hone in on the real promise of FinTech for online businesses. We discuss key opportunities e-commerce and marketing directors should pursue to keep their sites abreast of new changes in
Attack Account Takeover Fraud in 5 Steps | Merchant Guide
Over the past several years, in an effort to make online checkout more streamlined for returning customers, e-commerce merchants have encouraged them to establish online accounts and store their payments credentials. Fraudsters quickly adapted their strategies to take advantage of this vulnerability and account takeover fraud (ATO) has spiked at a terrifying rate. Get our Merchant Guide to understand how to identify compromised accounts, learn how fraudsters are leveraging proxies, mobile emulators and remote desktops, find anomalies in customer behavior patterns that signal ATO, identify concrete ways to place multiple layers of technology in the way of fraudsters and expose vulnerabilities in your customer service and fraud departments.
Account Takeover and Account Creation Fraud | White Paper
As veritable oceans of stolen usernames and passwords become available for sale and mobile develops into the preferred method of accessing the Internet, e-commerce businesses large and small are reporting significant increases in a new method of attack. Account takeover and account creation fraud are on the rise. Get this white paper to better understand account takeover fraud and the options available to protect yourself and your customers from this new scourge.
5 Steps to Help Fix Your Fraud Problem | Webinar
As e-commerce continues to grow, fraudsters will continue to find new ways to exploit your vulnerabilities and as a merchant, the liability is yours. Companies that don’t pay attention to their losses and to suspicious order behavior are the ones who pay. Get our merchant guide to help reduce your decline rates, chargeback rates
Online businesses are wasting valuable resources investing in “status quo fraud prevention methods,” according to a newly published survey from Sift. Coinciding with an announcement that it has rebranded from Sift Science, the San Francisco-based antifraud technology company released a report revealing the results of a study in which it surveyed 500 professionals across North America whose responsibilities include fraud, risk, mobile or e-commerce operations