Download the Ethoca study involving 95 top ecommerce retailers over a 5 month period. Fill the form to get the free 10 page PDF (350KB).
Highlights
- In 10% of the cases studied, a single credit card was used to commit fraud at more than one merchant.
- When a fraudster commits fraud at multiple merchants, the victimized merchants do not typically all belong to the same industry or vertical.
- In 86% of the cases studied, the fraudster stopped using the same cards during the first 24 hours.
About the study
Ethoca engaged in a program with credit card issuers and participating online merchants. The 95 merchants studied in this program represent 61% of the top 500 Internet merchants as measured by revenue and as defined by Internet Retailer for 2009 (top500guide.com). All the merchants were enrolled in Ethoca’s Issuer Confirmed Fraud Alerts service from June 2010 through October 2010.
About the authors
Dr. Micci-Barreca is a leading expert in fraud detection applications of pattern recognition and data mining technologies. He is a principal at Elite Analytics, a specialized consulting firm which he recently co-founded. Previously, he was Sr. Director of Fraud Solutions at ClearCommerce Corporation, where he led the research and development of advanced fraud detection solutions and advices major clients on risk management strategies. Dr. Micci-Barreca developed data mining applications for Fortune 100 clients and state government organizations while working as Director of Data Mining at Intelligent Technologies Corporation and NeoVista Software. He holds a Ph.D. in Cognitive and Neural Systems from Boston University and a Master in Computer Science from the University of Houston.
Julie Fergerson is Vice President of Emerging Technologies at Ethoca. Fergerson has 20 years of experience in the online payments and fraud management industry and holds patents for secure transaction order management processing and preventing fraudulent electronic transactions. Before joining Ethoca in 2010, Fergerson was Vice President of Emerging Technologies at Debix and Co-Founder and Vice President of Emerging Technologies at ClearCommerce. She is a co-founder and board member emeritus of the Merchant Risk Council (MRC) and a board member of the Identity Theft Resource Center, where she created and lead the Victim Assistance Program.
About Ethoca
Ethoca’s mission is to eliminate ecommerce fraud. Ethoca provides fraud management services to card-not-present merchants (those receiving orders by website, catalog, or telephone) and to card issuers. Ethoca partners with payment processors, fraud prevention vendors, identity solution providers, card acquirers, resellers and industry organizations. Download Ethoca's latest report to learn more.