Online Retail Risk Management
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Online Retail Risk Management

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Online Retail Risk Management Online Retail Risk Management Presentation Transcript

  • Internet Retail Expo 2012 “ Online Retail Payment Fraud & Risk Management” Dipti Rajpal www.ebsrms.com Risk Management Solution
  • 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 intl. orders
    • Less than 5% of the Merchants have effective Fraud prevention in place
    • Merchants rejected intl. orders nearly three times higher than domestic orders
    Internet Retail Expo 2012
  • How do fraudsters obtain consumer Information?
    • Unsecured servers & databases
    • Unknown log files
    • Unsecured websites & shopping carts
    • Employee misconduct
    • Phishing Emails
    Internet Retail Expo 2012
  • Common Online Fraud Prevention Tools Can Fall Short
    • CVC/CVV – Card Verification Value/Code
    • AVS – Not accurate and N/A in India
    • 3D Secure(VBV/MCSC) offers limited
    • coverage
    • IP address – can be spoofed easily
    Internet Retail Expo 2012
  • Chargeback Types
    • No cardholder authorization
    • Goods not shipped/service not rendered
    • Goods not as described/defective
    • Duplicate processing chargebacks
    Internet Retail Expo 2012
  • Threats for Online Retail Merchants
    • Loss of Merchandise
    • Potential termination of merchant a/c due to Excessive Chargeback
    • Brand damage/Reputation
    • Fines from Visa/ MasterCard / Acquiring banks
    • Currency conversion risks
    • Other Operation/ Review costs
    Internet Retail Expo 2012
  • Preventive Measures for Stopping Fraud
    • Bulk orders from same customer
    • High value transaction
    • Velocity checks
    • Multiple retries
    • Negative/positive customer list
    • New technologies: Device Identification, Nexus, Proxy detector etc.
    Internet Retail Expo 2012
  • Guidelines for winning more Chargebacks
    • Strong refund policy
    • Crisp & clear Terms of service
    • Delivery schedule and terms
    • Email confirmation – After transaction & during Delivery confirmation
    • Shipment Tracking/Reference by email (must retain copy in server)
    Internet Retail Expo 2012
  • Overview- What We Do
    • Forensic Client Device Identification
    • 1000+ Rules and Algorithms
    • User-defined Risk Models
    • Velocity Checks
    • Negative & Positive Database - IP Ranges, Chargebacks, Carders, Hackers, Bots
    • Nexus - Maps fraudulent Patterns in transactions
    • Customizable Reports
    Internet Retail Expo 2012
  • abuse X Name: Mary Poppins Email:pop25@gmail.com 123 Las vegas blvd Las Vegas, NV 702-534-7698 IP:206.45.95.01 Geoloc: Nevada cc: 4563296511117777 X abuse Name: Abraham Zakaria email: az@chase.com 615 E. 35th St New york, ny 212-365-7878 IP:94.115.85.10 Geoloc: New york Cc: 5125189074381930 abuse X Name: Aaron Wall email: [email_address] 8 Hollyoke Ave Minneapolis, MN 320-698-8354 IP:72.138.11.9 Geoloc: Minnesota Cc: 4123234534568759 suspect suspect ? ? Fraud Management with Device Identification
  • Screen Shots – Device ID
  • AVS Blocklist Velocity Checks Device Information How EBS Fraud Prevention works? Fraud Filters Internet Retail Expo 2012 GOOD SUSPECT FRAUD TRANSACTIONS Nexus
  • Nexus Internet Retail Expo 2012
  • Risk Management Solution Visit us @ EBS Counter Free Chargeback Guide! [email_address] “ Fraudsters know you, Now you will know them Better” Thank you Internet Retail Expo 2012
  • Risk Management Solution Visit us @ EBS Counter Free Chargeback Guide! [email_address] “ Fraudsters know you, Now you will know them Better” Thank you Internet Retail Expo 2012