Ecommerce Fraud Detection

ecommerce fraud detection

Ecommerce fraud detection is crucial to the success of your ecommerce business. It impacts your customer relationships, your reputation and your revenue.

The most common form of ecommerce fraud is identity theft. It can range from stolen card details to stealing the account and shipping addresses of legitimate customers.

Detecting fraud isn’t easy or inexpensive, especially when you have millions of orders to review. This can be a huge burden on your budget and human resources, which is why it’s important to have the right tools in place.

Signifyd is a cloud-based platform that automates ecommerce fraud prevention through real-time machine learning. It evaluates scores for purchases by leveraging risk factors such as geo-location data, social information, customer history, issuing bank data, blacklists and more.

Fraud blacklists can help you identify and ban known or probable fraudsters who might be abusing your policies to receive items for free or use fake accounts. These blacklists can be set up to block orders by an individual IP address or a specific device.

Maximizing Fraud Protection with AI-Powered Ecommerce Tools

Velocity limits, also called velocity checks, scan for suspicious transactions based on the rate at which a buyer submits multiple transactions. This can identify cases of card testing, which is when a fraudster attempts to run multiple transactions with a valid card number.

Riskified has a full suite of conversion-oriented products that are designed to streamline good shoppers’ journey and prevent ecommerce fraud attacks. Their machine learning models deliver instant decisions that can help you capture good sales and recapture lost revenue.

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