The rate of fraud on all Australian cards and cheques increased. Card-Not-Present Fraud is growing rapidly. Account Takeover Fraud (ATO) and New Account Fraud (NAF) are also a stand out.
E-commerce has transformed not only the way we shop, but also how retailers plan and execute their business growth and marketing strategies around the peak shopping season.
Before businesses can even start the decision-making process, they must have a solid understanding of their specific fraud protection needs.
Take a moment to evaluate your fraud management system, used to detect and prevent fraudulent transactions online.
You could be wrongfully turning away legitimate sales. Known as false positives, overzealous online retailers are losing money in their bid to reduce the risk of fraudulent transactions.
Just because you’re an online retailer doesn’t mean you accept card-not-present fraud as a cost of doing business. You need a solution – but how do you sort the good from the not-so-good?
The latest weapon in the fight against fraud is a professional managed service that uses the best of AI and machine learning.
Retail fraudsters may be more aggressive and sophisticated these days, but so is fraud detection and prevention technology. Unfortunately, many retailers continue to miss out by falsely identifying legitimate purchases as fraudulent.