Blog

AML Software
Feb 28, 20251411 min read

How AML software combats money laundering and fraud

KYC requirements
Feb 20, 20252010 min read

KYC requirements – Guidelines for secure customer onboarding

Centralized fraud operations
Aug 21, 202417010 min

Centralized fraud operations – The power of advanced orchestration systems in modern banking

Single Factor Authentication (SFA)
Aug 16, 202418315 min

Single Factor Authentication (SFA)- Exploring its role

Instant Approval
Aug 9, 202416320 min

Navigating instant approval in a fraud-prone world

Mobile Registration
Aug 2, 202418017 min

Safe mobile registration while protecting data from fraud

Data security and privacy as pillars of fraud prevention
Jul 19, 202424619 min

Data security and privacy as pillars of fraud prevention

Facial-recognition-systems
Jul 10, 202424220 min

Facial recognition systems -A new approach to fighting fraud

Account-opening
Jul 3, 202423920 min

Streamlining account opening while mitigating fraud risks

Alternative-data
Jun 28, 202421721 min

Alternative data – Enhancing accuracy in fraud detection

Risk monitoring
Jun 17, 202425915 min

Risk monitoring best practices – Staying ahead of threats

Fraud reporting and compliance The key to combatting fraud (1920 x 1080 px) (1200 x 627 px) Browser fingerprinting
Jun 7, 202426928 min

Browser fingerprinting – A thorough overview

Fraud reporting and compliance The key to combatting fraud (1920 x 1080 px) (1200 x 627 px) What is smurfing?
May 31, 202428514 min

What is smurfing? – Everything from methods to mitigation

Fraud reporting and compliance The key to combatting fraud (1920 x 1080 px) (1200 x 627 px) New account fraud
May 24, 202427916 min

New account fraud – Understanding and preventing it

Fraud reporting and compliance The key to combatting fraud (1920 x 1080 px) (1200 x 627 px) Account verification?
May 20, 202445713 min

What is account verification? – Best practices

Chargeback management
May 10, 20242639 min

Chargeback management – Essential insights for businesses

Fraud reporting and compliance The key to combatting fraud (1920 x 1080 px) (1200 x 627 px) Fraud risk assessment
May 2, 202437013 min

Fraud risk assessment – A proactive approach

How to prevent chargeback fraud Preventing chargeback fraud requires a proactive approach and implementation of robust strategies. Here are some effective measures businesses can take to mitigate the risk of fraudulent chargebacks: Enhance transaction monitoring Implement real-time transaction monitoring systems to detect suspicious activities and potential instances of fraud. Flag transactions that deviate from typical purchasing behavior, such as unusually large orders or multiple transactions from the same IP address. Implement Address Verification Systems (AVS) Use AVS to verify the billing address provided by the customer with the address on file with the credit card issuer. Mismatches may indicate potential fraud and warrant further investigation. Require CVV verification Requesting the Card Verification Value (CVV) during online transactions adds an extra layer of security. Fraudsters may have stolen credit card information but not the CVV, making it more difficult for them to complete fraudulent transactions. Employ fraud detection tools Adopt fraud detection tools and algorithms that analyze transaction data to identify patterns indicative of fraudulent activity. These tools can help flag suspicious transactions for manual review and reduce the likelihood of chargeback fraud. Educate customers Provide clear and transparent policies regarding purchases, returns, and chargebacks. Educate customers about the consequences of chargeback fraud and the importance of resolving disputes directly with the merchant before initiating a chargeback. Optimize customer service Offer exceptional customer service to address concerns and resolve issues promptly. A responsive customer support team can prevent misunderstandings that may lead to unwarranted chargebacks. Secure payment processing Ensure that your payment processing systems are secure and compliant with industry standards. Use encryption and tokenization to protect sensitive customer information and prevent data breaches that could lead to fraudulent transactions. Implement fraud filters Configure fraud filters to automatically flag transactions that exhibit suspicious characteristics, such as high-risk countries, multiple failed payment attempts, or mismatched billing and shipping addresses. Maintain detailed records Keep comprehensive records of transactions, customer interactions, and shipping details. Documentation can serve as evidence in dispute resolution processes and help refute fraudulent chargeback claims. Stay Informed Stay abreast of emerging fraud trends and continuously update your fraud prevention strategies accordingly. Attend industry conferences, participate in forums, and collaborate with other merchants to share insights and best practices. Chargeback-fraud
Apr 19, 202432820 min

Chargeback fraud – Insights and prevention strategies

Anomaly detection for fraud prevention
Apr 10, 202439725 min

Anomaly detection for fraud prevention – Advanced strategies

Fraud reporting and compliance The key to combatting fraud (1920 x 1080 px) (1200 x 627 px) Credit card chargeback
Mar 27, 202433016 min

Credit card chargeback explained – A comprehensive guide

Fraud reporting and compliance The key to combatting fraud (1920 x 1080 px) (1200 x 627 px) Financial risk
Mar 25, 202438016 min

Financial risk – Mitigation strategies against fraud

What is a chargeback
Mar 15, 202435816 min

What is a chargeback – Understanding the basics