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The ability to quickly search a customer on the web to discover their identity and connection to a purchase they may or may not have made on your website has led to Google, Facebook and LinkedIn, Whitepages and other sites becoming de facto fraud prevention tools. But the means of conducting a proper search is all but an art and lack of a repeatable science in fraud departments across corporate America.Read More
Users of Facebook (FB), Pinterest, and Twitter share personal details every day. Now credit bureaus and payment companies Equifax (EFX), EBay’s (EBAY)PayPal, WePay, and Intuit (INTU) have begun trials to see whether social posts can help prove identities or detect whether customers are lying about their finances. “We are investing a lot in how can we use unstructured data that is sitting out there in social media that can help us understand a little more about identity,” says Rajib Roy, president of Equifax Identity and Fraud Solutions. Fraud cost U.S. online retailers $3.5 billion last year, according to payment processor CyberSource.Read More
Pervasive use of social media has left a digital footprint for a large and growing chunk of the population. Our panel discusses how merchants can leverage the tracks left behind by Twitter accounts, Facebook pages and the proliferation of newer social sites to more effectively predict fraudulent CNP transactions. Learn how to integrate social data into your existing systems.Read More
At Finovate Spring 2013, Signifyd Debuted its Guaranteed Payments Solution to Help Online Merchants Minimize Card-Not-Present Fraud. This is a re-post from the Finovate Blog.Read More
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Industry’s First Deployment of Social Graph Data Stream Correctly Identifies Fraudulent Transactions in Real-Time; Provides Merchants a New Dimension to Combat ecommerce FraudRead More
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