This week PRS has implemented our Fraud Detection Service on our consumer facing ecommerce Platform, Consumer Connect.
Techniques used in online card-not-present fraud are becoming more and more sophisticated. Traditional fraud screening tools can only determine if a credit card is legitimate or if the user-entered account information matches those on record. Today, fraudulent orderers can obtain personal credit card information, pose as the legitimate card holder, and bypass standard fraud checks.
In order to combat sophisticated fraud evasion techniques, PRS has partnered with MaxMind. MaxMind, hadles fraud screening in a different way. Transactions are vetted out from multiple angles.The tools are not geared towards verifying the authenticity of the credit card details used for the purchase, a process that is done during authorization, but rather, identifying if the purchaser is the legitimate card holder. Through this analysis, the integration identifies traits and patterns that are associated with fraudulent orders. By looking at all pieces of the 'evidence' presented, we can present businesses with the necessary information to detect fraudulent orders before the payment is processed.
Key features include: (Download MaxMind minFraud White Paper)
- Geographical IP address location checking
- High risk IP address and e-mail checking
- Issuing bank BIN Number country matching
- minFraud Network
- Post query analysis
