prevent online fraud from your business and why you need to stamp it out
DESCRIPTION
Online card payment fraud is a $8 billion industry, a very small number of businesses have the correct procedures in place to prevent it, this guide will make you think about it.TRANSCRIPT
Risk Management
System
Fraud Affects All Merchants
Online credit card fraud is $8.53 billion Industry.
4% of Revenue lost due to frauds
Percentage of accepted orders which are later
determined to be fraudulent is approximately
2.5% for domestic & 4.7% for international orders
Less than 5% of the Merchants have effective
Fraud prevention in place
How Do Fraudsters Obtain Consumer Information?
Unsecured servers & databases
Unknown log files
Unsecured websites & shopping carts
Employee misconduct
Phishing Emails
4
Common Online Fraud Prevention Tools Can Fall Short
CVC/CVV – Card Verification Value/Code
AVS – Not accurate
3D Secure (VBV/MCSC) – offers limited coverage
IP address spoof/proxy
5
Sample of a Compromised Credit Card Data
Fraud Detection & Risk Analysis
what do we do? (1/2)
Forensic Client Device Identification
Covertly gathers around 80 Parameters about a
device to provide a unique fingerprint
Combine device parameter with user entered
information in to 600+ Rules and Algorithms
User-defined Risk Models
Create a Time difference comparison test
9 Point geo-matrix to fortify results
Fraud Detection & Risk Analysis
what do we do? (2/2)
Real-time Telephone Authentication for flagged
transactions
Link all activities to device used regardless of
identity assumed or IP address
Nexus – Maps fraudulent patterns in transactions
Keystroke – Speed, Recording
Velocity Checks
Negative Database – IP Ranges, Chargebacks,
Carders, Hackers, Bots
Process Overview
AVS
Blocklist
Velocity
Checks
Device
Information
Layered Security: Augmenting other tools F
raud F
ilters
GOOD
SUSPECT
FRAUD
TRANSACTIONS
Nexus
Product - Screen Shots
Screen Shots – Investigation View
Screen Shots – Investigation View
Screen Shots – Investigation View
Screen Shots – Investigation View
Screen Shots – Investigation View
Screen Shots – Investigation View
Screen Shots – Investigation View
Nexus