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We’re excited to announce that Signifyd has been shortlisted in the Merchant Risk Council’s (MRC) 2013 Emerging Technology Award (METAward) in the startup company category. This is a re-post from a recent press release.Read More
Signifyd is different than the above companies in several ways: First, Signifyd is not a detection mechanism that you ping to get a score and integrate into your own decision system, or decide on your own whether you want to approve or reject a purchase. Signifyd delivers a decision; if you so choose (and you should), Signifyd will decide whether it approves or rejects a purchase. Especially for smaller merchants this is crucial since they have little or no risk management capabilities.Read More
Selling digital and virtual goods is a lucrative business, but one that also attracts a lot of fraud attempts. The logic is obvious: no shipping requires no physical presence or appearance of one, fast delivery allows fraudsters to quickly buy multiple items and exploit much more of every stolen card, recourse by the seller is almost impossible due to the speed and finally, reselling stolen products is much easier than tangible goods. After our blog was featured in Balanced’s post about fraud, we saw multiple questions about fraud in digital goods. One of them was this comment on HN. One reason for Signifyd getting a lot of retailer attention is our ability to provide quality fraud prevention decisions that help reduce fraud in cases where there’s little recourse. We wanted to share some insights.Read More
Last week we touched on the top fraud problems retailers have to deal with. Since then, we’ve heard repeated questions about several of these topics. This week, after seeing many discussions about hacked accounts following PayPal and Lenovo’s password-killer announcement, we’d like to touch on the Account Take-Over problem, or ATO for short.Read More
Online fraud prevention is a tough business, especially if you’re a small or medium business being targeted by fraudsters. Whether professional or amateurs, fraudsters A/B test too and try to find weaknesses in your defenses. That is why one of the things you realize very quickly once you fraud prevention team is set up is that there are indeed clear cut good and bad cases, but a lot of the purchases you look at fall in between, in the hard-to-categorize category that’s difficult to make a decision on. That’s part of the reason so many purchases are still reviewed manually, and when reviewed, are usually being decided on incorrectly. In our work with large and small retailers we’ve discovered several of these areas, and we’d like to tell you a bit about why they happen and what we do to solve them.Read More
In the early days of eCommerce almost no payment gateway offered merchant protection. Liability was shifted to the merchants in card not present purchases and few services were provided to deal with it. Merchants had to defend themselves by imposing multiple limitations on their business and their consumers, to make sure that they stay under the chargeback limit set by the card associations.Read More
Some of the most common questions we get asked are around social data. How do you use social data in fraud prevention? What’s the right way to leverage social network analysis in fraud investigations and real time decisions? We’ve had to deal with this issue with many of our customers, and found a few major obstacles and some very interesting use cases.Read More
One of the most flexible ways to deal with fraud trends and changing behaviors is your fraud operations team, reviewing cases and changing rules as needed to deal with emerging issues. However, while highly flexible, this is often a high maintenance option costing the company a lot of money. An average review in the industry takes 5-10 minutes, over multiple systems, and false positive numbers range between 20-80%.With over 27% of orders being manually reviewed at most retailers, this is a major cost center that often has a hard time justifying itself and any further investment. On the other hand, every penny saved goes to the bottom line.Read More
When you manage a fraud prevention operation, your day to day looks like a constant war. There’s always something happening: a new fraud ring, an uptick in losses, manpower assignment and management looking for numbers and analysis. Coupled with attrition and how straightforward the review work is, it’s hard to justify investment in agent training and tools – there’s always something better to tend to. What are the top 5 reasons for you to look into tools and training despite this?Read More
An excellent research report from the team at Javelin Research showing that Social Media and Mobile are forming the new fraud frontier.Read More