4 Most Important Things to Watch for in Fraud Prevention

Jun 12, 2013 11:22 AM  By

blue-3Watch Your Training / Coaching

It doesn’t matter how sophisticated your infrastructure is, if your staff cannot make good use of it, it will never live up to its potential. If you have a manual review team, be sure to use the intelligence gleaned from your fraud data to train and coach them. Also, it’s important to avoid “black and white rules” for your manual review team.

For example, less than a decade ago, a customer ordering in Malaysia with an American credit card was a definite chargeback. But now, the world is becoming a smaller place and for many businesses, orders from Malaysia tend to be a reliable.

A good anti-fraud specialist tries to find a plausible story for such “inconsistencies” in the data rather than memorizing and reacting to rules such as “no American cards on orders with Malaysian IPs.”