Fraud happens, and new ways to commit fraud are always being developed. This is an unfortunate reality for all business. Because of this, fraud prevention has become a tricky and specialized field. Fraudsters targeting webhosts use different methods than they would for a florist, for example. 2Checkout has expert fraud analysts who are experienced at detecting these different methods and figuring out how to dissuade fraudsters in the first place. By assessing your business, your account’s history, and your own needs we can offer reliable, tested, effective strategies to assist you.

One aspect of 2Checkout’s fraud prevention that we’ve mentioned – but not discussed in depth, is our ability to tailor our fraud protections to suit your individual needs. While our normal fraud procedures provide sufficient protection for the majority of our vendors, from time to time a more tailored approach is helpful. Do you ever feel that we are flagging too many valid orders as fraud? Do you ever feel that your product attracts more fraudulent consumers than you expected? We are happy to work with you and offer suggestions to help reduce fraud and allow good sales.

These strategies may be as simple as changing how we review orders for your product or service. It may also be suggesting simple wording changes in your product explanations on your website. We have been doing fraud prevention for nearly 10 years; let us work with you and show you how effective we are.

Sebbe Jones, 2Checkout’s Fraud Czar, has spent a majority of his professional career fighting online fraud. He is one of 2Checkout’s most valued employees and is regularly called upon by the industry to speak on the subject. The following two-part blog, which will conclude tomorrow, is Sebbe’s narrative on 2Checkout’s fraud fighting history, the lessons learned along the way and a brief look at his department’s methodology… that is, the part he is allowed to share with you. This rare glimpse into “Sebbe’s World” will provide you the reasons why 2CO’s fraud scrubbing service is so highly valued by its customers who receive the service as a value-add, and why no e-commerce business should attempt to stand alone in the war against online fraud.

Allow me a moment to introduce myself and talk about my history at 2Checkout. My name is Sebbe Jones. I am the manager of Fraud Detection and Prevention at 2Checkout and manage a staff of analysts and investigators.

We are very good at what we do, but don’t take my word for it. Let our record and departmental process speak for itself.

Today and tomorrow, I will post a two-part blog describing 2Checkout’s daily fraud mitigation efforts – what goes into our daily work, a little history behind the development and rejuvenation of our department, and ultimately explain why you shouldn’t try tackling fraud on your own.

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Do you have big celebratory plans for International Fraud Awareness Week? What do you mean — NO? Don’t worry, we’ve got you covered!

As you know, 2Checkout takes e-commerce fraud management very seriously and accurate and timely protection of your orders has always been a guarantee. But this week, to celebrate Fraud Week, we made our net even stronger.

2Checkout joined a global fraud-fighting community, powered by Ethoca – a leader in collaborative fraud management – to extend our fraud management services beyond our current system. Now, we have access to shared fraud data from a pool of online retailers designed to help augment our efforts in spotting and stopping fraudulent online behavior more efficiently, and guaranteeing less chargebacks related to fraud.

In partnership with our existing fraud detection technology, Ethoca will be an added layer of protection. The beauty of the system is that it not only red flags and records fraudulent findings from other retail sources but also helps identify honest customers as well, so they can receive a virtual “speed pass” through the clearance process and valuable departmental resources can remain focused on stopping criminal activity.

According to Sebbe Jones, Manager of Fraud Protection for 2Checkout, “Fraud protection isn’t just about stopping the bad guys. Providing a seamless and safe shopping experience for the legitimate consumer is equally, if not more important. Ethoca is yet another layer of security for us to ensure a safe shopping experience.”

We are proud to be an integral part of Ethoca’s network and are confident the model will help stamp out fraudulent transactions within the retail industry, resulting in substantial savings for customers and retailers selling online.

When legitimate e-commerce prospers everyday, there is still the growing threat of illegitimate business. Unfortunately, there is no way we can stop these people from attaining and using others information. However, we can prevent our vendors from associating with illegitimate buyers. A business that sells tangible goods will experience less fraud than a business that sells intangible goods. It is quite easy to generate great loss by sending a service to a free and untraceable email address opposed to sending a service to a physical address. Fraud will occur in every type of business, some more than others. We find that the most sought after services that accumulate the most losses are hosting, e-books, and templates.

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In the Card Not Present, e-commerce environment that 2Checkout and its suppliers actively sell in, a decision had to be made between real time or time delayed fraud protection. With the 60,000+ suppliers currently selling hundreds of thousands of different products and services, this is a topic debated regularly.

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