Fraud is prevalent in all Internet transactions, especially when the product is intangible. We have been in this industry long enough to see significant growth and development. We have also been here to see the growth and development of fraudulent activity. We would like to remind you that it is important to utilize 2Checkout’s fraud [...]
Posted in Minimizing Fraud
Tagged consumer fraud, Fraud, fraud protection, fraud review, intangible, International Fraud Awarness Week
Situation: A merchant selling PC to Phone services was being targeted by a fraud ring. This type of fraud is very tricky to catch. The orders appeared to look legitimate. The card BIN, billing addresses and I.P. addresses all matched. What tipped off the fraud analyst to further investigate this, was the spelling of the [...]
Posted in Minimizing Fraud
Tagged consumer fraud, Fraud, fraud protection, fraud review, International Fraud Awarness Week
One of the more challenging issues we have to work around involves new merchants. While we do have a wealth of knowledge and experience relating to the various types of fraud, it can prove somewhat more problematic to link this knowledge with a new vendor. First, we must understand our vendor and the aspects of [...]
Posted in Minimizing Fraud
Tagged chargeback, consumer fraud, Fraud, fraud protection, International Fraud Awarness Week
One of the biggest challenges facing online (card not present) merchants is “Friendly Fraud”. What do we mean by friendly fraud? The standard definition for friendly fraud is when a customer uses a credit card to make a purchase, and then disputes the charge with their credit card company once the item(s) are received. Consumers [...]
