Etailers Unwrap Ecommerce Fraud Prevention Tips from Ethoca
Posted on Tue, Nov 16, 2010 @ 05:00 AM
As sales volumes start their rapid Christmas ascent in November leading up to Black Friday and Cyber Monday, the fraudsters are also getting ready with a whole new set of threats to watch out for. Based on the top fraud trends observed this year, Ethoca offers its Christmas 2010 Top 6 Anti-Fraud Measures for Online Merchants list
(PRWEB) November 16, 2010 -- Ecommerce fraud prevention company Ethoca has published Christmas 2010 Top 6 Anti-Fraud Measures for Online Merchants and begun a six-part series of anti-fraud tips on the company blog.
Written by Julie Fergerson, Vice President of Emerging Technologies at Ethoca, the tips come just in time for the busiest retail season of the year. Fergerson was a co-founder of Merchant Risk Council and is a well-known expert in the field of fighting online fraud.
The first tip in the series warns of "friendly fraud" committed by the cardholder or someone known to them. It is rising, due to the continuing bleak economy and high unemployment rates.
Fergerson goes on to detail the types of merchants most at risk for friendly fraud, and how best to fight it.
Subsequent tips warn merchants to:
- Be careful not to flag repeat customers as suspicious when they don't have a "digital fingerprint"
- Monitor cancelled orders triggered by fraud screens, and resulting call center complaints
- Test fraud rules to make sure they can catch coupon fraud
- Tune fraud screening processes to handle very high AVS mismatch rates resulting from gift cards
- Ensure that fraud rules are multi-channel
“Ecommerce payment fraud continues to be a prime target for cybergangs in 2010,” said Ethoca VP, Emerging Technologies, Julie Fergerson, “and as sales volumes start their rapid Christmas ascent in November leading up to Black Friday and Cyber Monday, the fraudsters are also getting ready with a whole new set of threats to watch out for.”
Merchants who subscribe to the company's Fraud Intel Blog will get each tip as soon as it becomes available. Merchants also can download a PDF with all six tips at ethoca.com/anti-fraud-tips.
About Ethoca
Using Ethoca’s anti-fraud technology, ecommerce (card-not-present) merchants cut fraud losses, reduce false positives (wrongly rejected orders), and reduce fraud management costs. Learn more at Ethoca.com
Ethoca™ is a registered trademark of Ethoca Limited.