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CARDING & HACKING
Payment Systems & Bank Carding
ANTIFRAUD: WHAT IT IS AND HOW IT WORKS IN THE BANKING SECTOR
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<blockquote data-quote="Plotu" data-source="post: 832" data-attributes="member: 5"><p><strong>Antifraud and conversion rates</strong></p><p>As you can see, the system for monitoring fraudulent transactions requires fine-tuning in order to maintain a high level of security, while not losing most of the profit.</p><p></p><p>In our company, we have identified several main ways to solve this problem:</p><ul> <li data-xf-list-type="ul">Individual system configuration for the client-specialists analyze the business of an online store, its average receipt, and the geography of the client base, and configure the necessary filters in accordance with the results obtained.</li> <li data-xf-list-type="ul">Providing the user with a mechanism for" manual approval " of transactions. Here, the online store can see for itself which transactions were considered suspicious by the system, and skip them manually. To confirm the identity of the cardholder, the buyer can even request a copy of the passport and bank card with a masked number (the first six and last four digits) and the reverse side with the owner's signature. Based on these documents, the online store can make its own decision on making a payment.</li> <li data-xf-list-type="ul">Providing the partner with the ability to manage part of the system's AntiFraud elements. This decision is made on an individual basis and depends on a number of factors.</li> </ul><p></p><p>In what case can I disable a number of filters in order to maintain a high level of payment conversion? The best way to choose a conversion is if:</p><ul> <li data-xf-list-type="ul">The online store has a high margin and well-organized work with customers in terms of collecting and verifying user data, verifying, confirming and tracking orders;</li> <li data-xf-list-type="ul">Low-risk goods / services that involve a low level of fraud due to their specifics (housing and utilities, city telephone service, home Internet, public services).</li> </ul><p></p><p><strong>Let's take an example:</strong> there are two online stores. One sells branded clothing at a 100% mark – up, the other sells airline tickets at a 3% mark-up. In both cases, 100 payments were made, one of which turned out to be fraudulent. Let's assume that the average receipt in both stores is 10,000 rubles. This means that the clothing store will receive a profit of 10,000 rubles from the next sale (due to a high margin), which will cover losses from fraud. Ticket offices receive only 300 rubles from the sale at a 3% mark-up, and to cover the damage of 10,000 rubles, you will need to sell more than 30 tickets. That is why experienced stores with high margins have more opportunities to "weaken" some filters, because with proper work, income from an increased number of successful payments can reduce losses in the event of fraud.</p><p></p><p>For low-margin businesses, the losses will be more significant – In their case, to increase the conversion rate, it is better not to disable filters, but to switch them to notification mode. The notification mode will mark "suspicious" transactions and allow the online store to manually make a decision on skipping or rejecting a payment. In case of physical delivery of the goods, the courier will be able to ask for an identity document and present the card with which the payment was made before the delivery of the goods. Possible options for insuring your own risks should always be discussed with the payment partner.</p></blockquote><p></p>
[QUOTE="Plotu, post: 832, member: 5"] [B]Antifraud and conversion rates[/B] As you can see, the system for monitoring fraudulent transactions requires fine-tuning in order to maintain a high level of security, while not losing most of the profit. In our company, we have identified several main ways to solve this problem: [LIST] [*]Individual system configuration for the client-specialists analyze the business of an online store, its average receipt, and the geography of the client base, and configure the necessary filters in accordance with the results obtained. [*]Providing the user with a mechanism for" manual approval " of transactions. Here, the online store can see for itself which transactions were considered suspicious by the system, and skip them manually. To confirm the identity of the cardholder, the buyer can even request a copy of the passport and bank card with a masked number (the first six and last four digits) and the reverse side with the owner's signature. Based on these documents, the online store can make its own decision on making a payment. [*]Providing the partner with the ability to manage part of the system's AntiFraud elements. This decision is made on an individual basis and depends on a number of factors. [/LIST] In what case can I disable a number of filters in order to maintain a high level of payment conversion? The best way to choose a conversion is if: [LIST] [*]The online store has a high margin and well-organized work with customers in terms of collecting and verifying user data, verifying, confirming and tracking orders; [*]Low-risk goods / services that involve a low level of fraud due to their specifics (housing and utilities, city telephone service, home Internet, public services). [/LIST] [B]Let's take an example:[/B] there are two online stores. One sells branded clothing at a 100% mark – up, the other sells airline tickets at a 3% mark-up. In both cases, 100 payments were made, one of which turned out to be fraudulent. Let's assume that the average receipt in both stores is 10,000 rubles. This means that the clothing store will receive a profit of 10,000 rubles from the next sale (due to a high margin), which will cover losses from fraud. Ticket offices receive only 300 rubles from the sale at a 3% mark-up, and to cover the damage of 10,000 rubles, you will need to sell more than 30 tickets. That is why experienced stores with high margins have more opportunities to "weaken" some filters, because with proper work, income from an increased number of successful payments can reduce losses in the event of fraud. For low-margin businesses, the losses will be more significant – In their case, to increase the conversion rate, it is better not to disable filters, but to switch them to notification mode. The notification mode will mark "suspicious" transactions and allow the online store to manually make a decision on skipping or rejecting a payment. In case of physical delivery of the goods, the courier will be able to ask for an identity document and present the card with which the payment was made before the delivery of the goods. Possible options for insuring your own risks should always be discussed with the payment partner. [/QUOTE]
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ANTIFRAUD: WHAT IT IS AND HOW IT WORKS IN THE BANKING SECTOR
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