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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.
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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
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