Risk management tools and techniques that are applied post-transaction often make these checks even more valuable, ultimately making the overall risk management strategy more effective and complete.
Sarasota, Florida (PRWEB) September 25, 2014
Most organizations primarily focus on the payment event when it comes to fraud detection and risk management, and once the transaction is processed the number and types of techniques used falls to anywhere between very few and none. However, there is much that can be gained by continuing risk management efforts post-transaction, and fraud prevention should not end once the order is processed.
Risk management tools and techniques that are applied post-transaction often make these checks even more valuable, ultimately making the overall risk management strategy more effective and complete. Prime examples include link analysis, post-transaction monitoring or reevaluating previously accepted transactions based on factors learned or that have changed following subsequent related transaction attempts. To further discuss the use of these post-transaction risk management techniques, as well as others, The Fraud Practice has released a free white paper entitled “Utilizing Post-Transaction Fraud Prevention in a Risk Solution” and is hosting an accompanying webinar on Making Use of Post-Transaction Fraud Prevention to further discuss these key concepts.
While it is natural for organizations to focus on the payment event when it comes to risk management it is also important to consider the benefits of continuing to monitor risk after the transaction has taken place. Fortunately for the fraudsters, however, the post-transaction activities most merchants do employ today are primarily centered on updating blacklists when fraud and chargebacks occur, but there can be quite a bit of time between the payment and associated chargeback events, allowing fraudsters to continue monetizing compromised card numbers or credentials.
The Fraud Practice’s latest free white paper, “Utilizing Post-Transaction Fraud Prevention in a Risk Solution,” now available, discusses several important considerations and techniques that can be applied or supplemented post-transaction. Post-transaction monitoring is a somewhat broad term that can be related to several specific techniques discussed in this white paper, including velocity checks, issuer alerts, link analysis, reporting, risk scoring, data sharing and negative lists. When it comes to repeat fraud, morphing fraud and other types of attacks or high risk patterns, a risk management program can achieve noticeable uplift performing post-transaction fraud prevention measures.
Request your free copy of this white paper and register for the Making Use of Post-Transaction Fraud Prevention webinar taking place at 1:00PM ET on September 30th.
About The Fraud Practice
The Fraud Practice is a privately held US LLC based in Sarasota, Florida. The Fraud Practice provides consulting services on eCommerce payments, fraud prevention, and credit granting as well as prepared research and training for payment and fraud professionals. Businesses throughout the world rely on The Fraud Practice to help them build and manage their payment, fraud, and risk prevention strategies.