Transaction Level: Individual Interactions
Effective fraud prevention programs begin with monitoring transaction performance at the checkout page. Fraudsters exploit vulnerabilities, shifting from one attack method to another. Practitioners deploy checks at each touchpoint, but this can lead to increased false positives and negatives.
Account Level: Account Performance Over Time
Device intelligence, spending behaviors, geolocation, behavioral biometrics, and step-up verification interactions help identify account-level exploits like Account Takeovers (ATOs). Historical account performance provides clear fraudster behaviors, increasing confidence and accuracy.
Platform Level: Grouped Accounts
By tracking performance of both ‘trusted’ and ‘confirmed fraud’ accounts, practitioners can leverage these insights to reduce friction and decrease false positive rates. Fraud rings and multi-account attacks are quickly identified based on geolocation, device intelligence, and more.
Network Level: Partnerships
Partnerships with solution providers offer data enrichment and decisioning based on insight across their network. For example, a fraudster targeting a bank with stored value uses access to the account to transfer funds and request a card for an ‘Authorized User’.
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Until this point, we have spoken about the rich data available to practitioners operating in isolation. By partnering with a solution provider, your fraud program leverages the performance of all other practitioners. 'First seen to you is not first seen to us.'