{"id":41421,"date":"2024-08-22T16:24:14","date_gmt":"2024-08-22T20:24:14","guid":{"rendered":"https:\/\/chargebacks911.com\/?p=41421"},"modified":"2026-03-25T13:51:52","modified_gmt":"2026-03-25T17:51:52","slug":"fraud-detection-tools","status":"publish","type":"post","link":"https:\/\/chargebacks911.com\/fraud-detection-tools\/","title":{"rendered":"Fraud Detection Tools"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>The 10 \u201cMust-Have\u201d Fraud Detection Tools &amp; Best Fraud Prevention Solutions<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s a startling statistic: <a href=\"https:\/\/merchantriskcouncil.org\/resource-center\/surveys\/2021\/2021-mrc-global-fraud-survey\" target=\"_blank\" rel=\"noopener\">according to the Merchant Risk Council<\/a>, the amount merchants spend to tackle online fraud increased five-fold between 2019 and 2021. In 2019, eCommerce merchants spent an average of 2% of their annual revenue on fraud prevention. By 2021, that share had grown to 10%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Given the scope of the problem, how can you tell if you\u2019re getting the most out of your fraud prevention efforts? What <a href=\"https:\/\/chargebacks911.com\/fraud-prevention\/\">fraud prevention<\/a> best practices should you have in place? And, what fraud prevention solutions and tools can you deploy to protect your business?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a merchant, these are a few of the questions that can keep you up at night. Not to worry, though: in this article, we\u2019ll answer them <em>all<\/em>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Today, we\u2019re looking at the top ten tools you need to have in your fraud detection toolbox. We\u2019ll also rundown some of the top service providers to consider, and talk about the most effective way to deploy a dynamic strategy for online fraud detection.<\/p>\n\n\n<div class=\"c-suggested-reading\"><div class=\"c-suggested-reading__inner\"><div class=\"c-suggested-reading__header\"><h3 class=\"c-suggested-reading__headline\">Recommended reading<\/h3><\/div><ul class=\"c-suggested-reading__items\"><li class=\"c-suggested-reading__item\"><a href=\"https:\/\/chargebacks911.com\/transaction-risk-analysis\/\" class=\"c-suggested-reading__link\">What is Transaction Risk Analysis? How Does it Work?<\/a><\/li><li class=\"c-suggested-reading__item\"><a href=\"https:\/\/chargebacks911.com\/verified-by-visa\/\" class=\"c-suggested-reading__link\">Verified by Visa: How Much Protection Does 3DS Offer?<\/a><\/li><li class=\"c-suggested-reading__item\"><a href=\"https:\/\/chargebacks911.com\/eci-indicator\/\" class=\"c-suggested-reading__link\">ECI Indicators: How to Understand 3DS Response Codes<\/a><\/li><li class=\"c-suggested-reading__item\"><a href=\"https:\/\/chargebacks911.com\/fraud-blacklists\/\" class=\"c-suggested-reading__link\">Fraud Blacklisting &amp; Whitelisting: The Right Move for You?<\/a><\/li><li class=\"c-suggested-reading__item\"><a href=\"https:\/\/chargebacks911.com\/3-d-secure-verification-failed\/\" class=\"c-suggested-reading__link\">3-D Secure Verification Failed? Here\u2019s How to Fix it.<\/a><\/li><li class=\"c-suggested-reading__item\"><a href=\"https:\/\/chargebacks911.com\/strong-customer-authentication-sca\/\" class=\"c-suggested-reading__link\">Strong Customer Authentication: What You Should Know in <\/a><\/li><\/ul><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Top 10 Tools for Fraud Detection<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Remember: a fraud prevention strategy is only as good as the tools you employ to get the job done.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fraud threats are constantly evolving and changing. Rising to meet these dynamic challenges means having multiple tools in place, all working in tandem. Think about it like a net; <em>the finer the mesh, the more you\u2019ll catch<\/em>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Criminals targeting your business will have their work cut out for them if you have the right fraud detection software, hardware, and monitoring tools in place. So, with that in mind, here\u2019s our list of top ten fraud tools you need to deploy in 2022:<\/p>\n\n\n\n<div class=\"c-icon-list\">\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2023\/04\/NEW-ICONS-DuoTone-customer-location.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">10. Geolocation<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\">Geolocation is the first fraud detection tool on our list. When a buyer submits a new order, geolocation technology pinpoints the user based on their physical location at the time of purchase. Comparing this with the information the issuer has on file lets you verify whether the buyer placed the order from a reasonable location.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The technology is not infallible, as a buyer could make purchases while traveling outside the country. However, geolocation-based fraud detection tools are helpful data nodes in the <a class=\"wpil_keyword_link\" href=\"https:\/\/chargebacks911.com\/fraud-scoring\/\" title=\"Fraud Scoring\" data-wpil-keyword-link=\"linked\" data-wpil-monitor-id=\"2725\">fraud scoring<\/a> process. For example, a buyer in Indonesia using payment information from a US cardholder should raise a red flag.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/geolocation\/\" class=\"c-btn c-btn-default\">Learn more about geolocation<\/a>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2021\/10\/NEW-ICONS-DuoTone-Lineal-Icons_DuoTone-Iconz_DuoTone-Iconz-39.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">9. Proxy Piercing<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\">Criminals can fool geolocation by using proxies to try and disguise their IP addresses. This makes it harder to flag transactions for review based on IP address or trace a fraudster\u2019s location. One way to contend with this threat is with proxy piercing technology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Proxy piercing is designed to see through a proxy address and identify the user\u2019s actual location. This is a valuable tool, but it is not foolproof. Many forms of proxy piercing can be disabled if the fraudster uses specific browser extensions to block sites from running Javascript.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/proxy-piercing\/\" class=\"c-btn c-btn-default\">Learn more about proxy piercing<\/a>\n<\/div><\/div><\/div>\n<\/div>\n\n\n\n<div class=\"c-shortcode-ebook c-shortcode-ebook--whitepaper\"><a href=\"https:\/\/chargebacks911.com\/chargeback-field-report\/\" class=\"c-shortcode-ebook__block\"><div class=\"c-shortcode-ebook__inner\"><div class=\"c-shortcode-ebook__graphics\"><div class=\"c-shortcode-ebook__graphics-inner\"><div class=\"c-shortcode-ebook__ipad\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/chargebacks911.com\/wp-content\/themes\/CB911\/assets\/img\/shortcodes\/ebooks\/ipad--field-report.png\" alt=\"2022\" chargeback=\"\" field=\"\" report=\"\"\/>\n\t\t\t<\/div>\n\t\t\t<div class=\"c-shortcode-ebook__cover\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/chargebacks911.com\/wp-content\/themes\/CB911\/assets\/img\/shortcodes\/ebooks\/cover--field-report.png\" alt=\"2022\" chargeback=\"\" field=\"\" report=\"\"\/>\n\t\t\t<\/div><\/div><\/div><div class=\"c-shortcode-ebook__content\"><span class=\"c-shortcode-ebook__title\"><span>A Real-World Look at<\/span> Chargeback Management<\/span><p class=\"c-shortcode-ebook__description\">Based on a survey of over 400 merchants, the report presents a comprehensive, cross-vertical look at the current state of chargebacks and chargeback management.<\/p><span class=\"c-btn c-btn--primary c-shortcode-ebook__btn\">Access the FREE Report<\/span><\/div><\/div><div class=\"c-shortcode-ebook__close\" data-shortcode-ebook-close=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\" fill=\"currentColor\"><path fill-rule=\"evenodd\" d=\"M4.293 4.293a1 1 0 011.414 0L10 8.586l4.293-4.293a1 1 0 111.414 1.414L11.414 10l4.293 4.293a1 1 0 01-1.414 1.414L10 11.414l-4.293 4.293a1 1 0 01-1.414-1.414L8.586 10 4.293 5.707a1 1 0 010-1.414z\" clip-rule=\"evenodd\"><\/path><\/svg><\/div><\/a><div class=\"c-shortcode-ebook__overlay\"><\/div><\/div>\n\n\n\n<div class=\"c-icon-list\">\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2021\/12\/Fingerprint-DuoTone-Lineal-Icons_DuoTone-Iconz_DuoTone-Iconz-copy-29.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">8. Device Fingerprinting<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/chargebacks911.com\/device-fingerprinting\/\" title=\"Device Fingerprinting\" data-wpil-monitor-id=\"1302\">Device fingerprinting<\/a> is a forensic technique used to identify each purchase on the device in question. The tool gathers unique information based on the hardware and software installed on a device that visits your site. This allows you to block devices associated with bad actors in past transactions, and keep track of trusted devices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This tool can help pinpoint suspicious activity that could suggest fraud tactics like account takeover. If an established customer accesses an account from an unfamiliar device, this should flag the transaction for closer examination.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/device-fingerprinting\/\" class=\"c-btn c-btn-default\">Learn more about device fingerprinting<\/a>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/06\/NEW-ICONS-DuoTone-safe-home-house-protected-shield.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">7. Address Verification<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\">The <a class=\"wpil_keyword_link\" href=\"https:\/\/chargebacks911.com\/fraud-prevention\/address-verification-service\/\" title=\"Address Verification Service\" data-wpil-keyword-link=\"linked\" data-wpil-monitor-id=\"3830\">Address Verification<\/a> Service, or AVS, is like geolocation in some ways. But, while geolocation tracks a user\u2019s IP address, AVS examines the billing information attached to a transaction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AVS compares the billing address provided by the buyer against the address on file with the card issuer. If the buyer can\u2019t provide the correct billing address, you should consider that a red flag for fraud.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Of course, AVS still has some shortcomings. For example, a fraudster may be able to provide a valid address, while a legitimate customer could simply supply the wrong information due to a typo or lack of attentiveness. So, you still can\u2019t base all decisoning on this one fraud detection tool.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/fraud-prevention\/address-verification-service\/\" class=\"c-btn c-btn-default\">Learn more about AVS<\/a>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2021\/12\/Speed-DuoTone-Lineal-Icons_DuoTone-Iconz_DuoTone-Iconz_DuoTone-Iconz-copy-8.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">6. Velocity Checks<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\">Fraudsters understand that time is not on their side. They want to steal as much as possible in a short amount of time before their activity is discovered. So, they often attempt multiple purchases, in quick succession, for goods with a high resale value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fraud detection tools focused on velocity checking will <a href=\"https:\/\/chargebacks911.com\/transaction-monitoring-software\/\" title=\"Transaction Monitoring Software\" data-wpil-monitor-id=\"364\">monitor the<\/a> data involved in each transaction. The tool watches for repeated purchases from the same user and flags them as suspicious. Having velocity checks in place can let you freeze activity if you receive a sudden batch of purchases from one user.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/velocity-checks\/\" class=\"c-btn c-btn-default\">Learn more about velocity checks<\/a>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2021\/12\/Device-Verification-DuoTone-Lineal-Icons_DuoTone-Iconz-copy-37.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">5. Biometrics<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\">Did you know you can take advantage of biometric technology, even in the eCommerce space? It\u2019s possible with mobile payments platforms like Apple Pay and Google Pay.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These payment apps employ two-factor authentication. The user needs to use a passcode\/thumbprint to unlock the device, then provide another positive ID to authorize a purchase. Plus, transactions made over mobile payments are tokenized, just like an EMV chip purchase.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/biometric-payments\/\" class=\"c-btn c-btn-default\">Learn more about biometric payments<\/a>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2021\/12\/Paper-Clipboard-DuoTone-Lineal-Icons_DuoTone-Iconz-copy-10.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">4. Fraud Blacklists<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\">Wouldn't it be great if you could create lists of buyers who are\u2014and who aren\u2019t\u2014allowed to do business with you? As a matter of fact: you can.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A \u201cblacklist\u201d enables you to block traffic from specific users based on a variety of variables. For example, you can block all transactions from specific countries or regions known for seeing high volumes of online fraud, or those which use a specific payment method.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Conversely, a \u201cwhitelist\u201d will block all traffic except for those outlined in the parameters of the list. If you only do business in the US and Canada, for instance, you can exclude all IP addresses based outside those territories from making purchases.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/fraud-blacklists\/\" class=\"c-btn c-btn-default\">Learn more about fraud blacklists<\/a>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2021\/10\/NEW-ICONS-DuoTone-Lineal-Icons_DuoTone-Iconz_DuoTone-Iconz-30.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">3. Machine Learning<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\">With machine learning, real-time insights are fed into models based on common fraud red flags. These transactions can be rejected outright or set aside for manual review.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The more data you have, the more accurate the system\u2019s decisioning becomes over time. The system becomes more adept at detecting fraud warning signs. That means that your systems will \u201clearn\u201d to detect fraud faster over time, and with greater accuracy.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/fraud-detection-machine-learning\/\" class=\"c-btn c-btn-default\">Learn more about machine learning<\/a>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2021\/12\/3d-Secure-DuoTone-Lineal-Icons_DuoTone-Iconz_DuoTone-Iconz_DuoTone-Iconz_DuoTone-Iconz-copy-7.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">2. 3-D Secure<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\">3D Secure is a technology that works like a PIN code for online purchases. The goal is to authenticate purchasers as authorized cardholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A lot of merchants were resistant to using the original version of 3-D Secure. However, the more recent 3DS 2.0 and later versions address many of the original technology\u2019s shortcomings. Many merchants now see 3DS as an indispensable tool to prevent fraud and resulting <a class=\"wpil_keyword_link\" href=\"https:\/\/chargebacks911.com\/chargebacks\/\" title=\"Chargebacks 101\" data-wpil-keyword-link=\"linked\" data-wpil-monitor-id=\"2014\">chargebacks<\/a>.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/fraud-prevention\/3-d-secure\/\" class=\"c-btn c-btn-default\">Learn more about 3-D Secure<\/a>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-icon-list__item\"><div class=\"c-icon-list__icon\"><object data=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2023\/07\/NEW-ICONS-DuoTone-meter-numbers-3.svg\" type=\"image\/svg+xml\"><\/object><\/div><div class=\"c-icon-list__content\"><h3 class=\"c-icon-list__title\">1. Fraud Scoring<\/h3><div class=\"c-icon-list__text\">\n<p class=\"wp-block-paragraph\">For our number one pick, we\u2019re going with fraud scoring.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This fraud detection tool examines each transaction based on multiple fraud indicators. It then generates a composite \u201cscore\u201d indicating the level of risk that the transaction represents.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fraud scoring lets you engage in very simple \u201cup-or-down\u201d decisioning. You can reject transactions that raise too many red flags automatically, or subject them to manual review. You'll need to add dynamic rules to the process for best results, though.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/fraud-scoring\/\" class=\"c-btn c-btn-default\">Learn more about fraud scoring<\/a>\n<\/div><\/div><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">How AI is Transforming Fraud Detection<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Traditional fraud detection methods relied on broad frameworks and internal controls to prevent and detect fraud.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Even today, these methods remain effective. <a href=\"https:\/\/www.acfe.com\/-\/media\/files\/acfe\/pdfs\/rttn\/2024\/2024-report-to-the-nations.pdf\" target=\"_blank\" rel=\"noopener\">In their 2024 annual report<\/a>, the Association of Certified Fraud Examiners (ACFE) revealed that the most common way that occupational fraud was initially detected was through a whistleblower tip (in 43% of fraud cases), followed by internal audit (14%), management review (13%), document examination (6%), and account reconciliation (5%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">One challenge in fraud detection, however, is that internal controls and the activities that they govern must be continually monitored after they\u2019re established. Manual processes are effective at establishing frameworks, but fall short at evaluating the large amounts of data required for successful monitoring.<\/p>\n\n\n<div class=\"cta-ab\"><span class=\"cta-ab__cta-content\">Stop fraud-related chargebacks today. The answer is just a click away.<\/span><span class=\"hs-cta-wrapper\" id=\"hs-cta-wrapper-f46a4ca9-3755-4911-b18a-8ad344729c8e\"><span class=\"hs-cta-node hs-cta-f46a4ca9-3755-4911-b18a-8ad344729c8e\" id=\"hs-cta-f46a4ca9-3755-4911-b18a-8ad344729c8e\"><!--[if lte IE 8]><div id=\"hs-cta-ie-element\"><\/div><![endif]--><a href=\"#\"  target=\"_blank\" data-open-demo-modal><img decoding=\"async\"  class=\"hs-cta-img\" id=\"hs-cta-img-f46a4ca9-3755-4911-b18a-8ad344729c8e\" style=\"border-width:0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/2611577\/f46a4ca9-3755-4911-b18a-8ad344729c8e.png\"  alt=\"REQUEST A DEMO\"\/><\/a><\/span><\/span><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">So what\u2019s the solution?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Automated rules-based systems and data monitoring tools show substantial promise. These systems use artificial intelligence and machine learning techniques to constantly monitor large data streams for outliers, anomalies, or suspicious patterns. In doing so, they\u2019re transforming the ongoing fraud detection process by lowering costs and improving anti-fraud response times.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report shows that automated fraud detection tools uncovered unauthorized activity faster than any other method recorded in the survey. Whistleblower tips, the most common fraud detection method, only uncovered fraud 12 months after it had first occurred, on average. Shortening the timeline between when fraud is first attempted and when it\u2019s discovered can help organizations prevent substantial losses and recover more lost revenue.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Questions to Ask Before Choosing a Service Provider<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Who you choose as a partner is important. The fraud detection platform you choose will serve as the base of your entire mitigation strategy. Any detection and revenue recovery tools you want to incorporate must be compatible with your platform as part of a comprehensive, multilayer solution.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It can be a challenge determining which fraud platform is right for you. Some service providers make incredible claims\u2026but offer little proof of their effectiveness. So, when comparing options for service providers, start by asking yourself a few key questions:<\/p>\n\n\n\n<ul class=\"wp-block-cb911-block-library-checklists c-checklist c-checklist--style-5 c-checklist--color-red\"><li class=\"c-checklist__item\">Can the technology be set up and deployed quickly?<\/li><li class=\"c-checklist__item\">Can the tools be adapted to meet the specific needs of your business?<\/li><li class=\"c-checklist__item\">How comprehensive is the data on which the solution provider relies?<\/li><li class=\"c-checklist__item\">Can you track its effectiveness with key performance indicators (KPIs)?<\/li><li class=\"c-checklist__item\">Can the service provider deliver observable, contextualized results?<\/li><li class=\"c-checklist__item\">How do the service providers' prices compare to competitors?<\/li><li class=\"c-checklist__item\">What kind of ROI can they deliver?<\/li><li class=\"c-checklist__item\">What track record does it have at detecting fraud for other clients?<\/li><li class=\"c-checklist__item\">How likely are you to experience the outcome you\u2019re looking for?<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Some Top Fraud Prevention Service Providers for 2026<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">So, which fraud solution providers will pass the test? We\u2019ve taken the liberty of pulling together some of the top names in criminal fraud mitigation to help start your search.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ratings and reviews were averaged based on real customer reviews from sources including <a href=\"https:\/\/www.g2.com\/categories\/fraud-detection\" target=\"_blank\" rel=\"noopener\">G2<\/a>, <a href=\"https:\/\/www.trustradius.com\/fraud-detection\" target=\"_blank\" rel=\"noopener\">TrustRadius<\/a>, <a href=\"https:\/\/www.softwaresuggest.com\/us\/financial-fraud-detection-software\" target=\"_blank\" rel=\"noopener\">Software Suggest<\/a>, and <a href=\"https:\/\/www.gartner.com\/reviews\/market\/online-fraud-detection-systems\" target=\"_blank\" rel=\"noopener\">Gartner<\/a>. The \u201cpros\u201d and \u201ccons\u201d we mention are also paraphrased directly from real, firsthand customer reviews. Providers are listed in alphabetical order:<\/p>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Company-Squares-02-CLEARSALE.png\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>ClearSale<\/span><\/h3>\n<p>ClearSale is a fraud and chargeback management tool that uses machine learning techniques to approve orders and detect suspicious transactions. ClearSale\u2019s software solution is used by more than 6,000 eCommerce merchants worldwide, and the company offers a $0 chargeback liability guarantee to its SMB customers.<\/p>\n<p>ClearSale offers integrations with many major eCommerce platforms, <a href=\"https:\/\/chargebacks911.com\/shopify-statistics\/\" title=\"Shopify Statistics\" data-wpil-monitor-id=\"2840\">including Shopify<\/a>, WooCommerce, Salesforce, Punchmark, BigCommerce, and others. The company complements its SaaS solution with implementation, customization, and anti-fraud consulting services\u00a0<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Flexible pricing models based on performance or KPIs<\/li>\n<li class=\"c-checklist__item\">Excellent customer support and onboarding process, backed by a 30-day satisfaction guarantee<\/li>\n<li class=\"c-checklist__item\">Simple and easy-to-understand dashboard<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Customers may experience slow order processing<\/li>\n<li class=\"c-checklist__item\">Chargeback refunds may take a month or longer to process<\/li>\n<li class=\"c-checklist__item\">Integrations may require occasional tweaks to maintain functionality<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Company-Squares-02-EKATA-11.png\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>Ekata<\/span><\/h3>\n<p>Ekata is an identity verification, data validation, and data enrichment provider that is used by more than 2,000 companies around the world. Acquired by payment network Mastercard in June 2021, the company\u2019s solutions help companies combat transaction fraud and mitigate chargebacks.<\/p>\n<p>At the core of Ekata\u2019s platform is its Identity Network, a solution that combines insights from Mastercard Identity with more than a billion behavioral and device data points to create an identity graph of customer profiles. These profiles help Ekata\u2019s customers conduct deeper fraud risk assessments and perform more thorough customer due diligence.<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Integrated with Mastercard\u2019s other offerings<\/li>\n<li class=\"c-checklist__item\">Tailored for financial services firms with KYC\/AML obligations<\/li>\n<li class=\"c-checklist__item\">Exceptional customer identity verification and fraud review capabilities<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Expensive and intended for enterprise customers<\/li>\n<li class=\"c-checklist__item\">Risk scores may not be accurate and may be based off incomplete data profiles<\/li>\n<li class=\"c-checklist__item\">User interface may be difficult to use<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Company-Squares-02-FORTER.png\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>Forter<\/span><\/h3>\n<p>Forter protects over $50 billion in transactions per year for more than 200,000 eCommerce stores across the world. The company\u2019s platform offers a suite of solutions, including fraud prevention and management, chargeback recovery, abuse prevention, payment optimization, and identity prevention.<\/p>\n<p>The company\u2019s solutions, which can deliver 99% of fraud decisions in under 400 milliseconds, have the potential to reduce chargeback rates by 72% and <a class=\"wpil_keyword_link\" href=\"https:\/\/chargebacks911.com\/false-declines\/\" title=\"false declines\" data-wpil-keyword-link=\"linked\">false declines<\/a> by 46%.<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Automated fraud detection process with manual reviews when necessary<\/li>\n<li class=\"c-checklist__item\">100% chargeback coverage for approved purchases<\/li>\n<li class=\"c-checklist__item\">Developer-friendly API for integration<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Limited customization for niches where fraud patterns can be different<\/li>\n<li class=\"c-checklist__item\">Initial setup can be time-consuming<\/li>\n<li class=\"c-checklist__item\">Unclear reasons for customer card declines<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Company-Squares-02-KOUNT.png\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>Kount<\/span><\/h3>\n<p>Founded in 2007 and acquired by Equifax in 2021, Kount is an AI and machine learning-enabled platform that allows businesses to improve the trust and safety of their offerings. The company collects data from more than 20,000 brands in 250 geographical locations across the world to help customers conduct due diligence, detect fraud, and manage chargebacks<\/p>\n<p>The company\u2019s platform <a href=\"https:\/\/chargebacks911.com\/banking\/payment-fraud\/\" title=\"Payment Fraud\" data-wpil-monitor-id=\"2479\">offers payments fraud protection<\/a>, identity management, and compliance solutions for eCommerce merchants, restaurants, healthcare providers, streaming services, rental car companies, and businesses in other verticals.<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Fully-customizable and reviewable fraud decisioning rules<\/li>\n<li class=\"c-checklist__item\">Dedicated account manager and excellent customer service<\/li>\n<li class=\"c-checklist__item\">User-friendly interface that\u2019s easy to use<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Pricing is not publicly available<\/li>\n<li class=\"c-checklist__item\">Reports of frequent price increases, especially post-Equifax acquisition<\/li>\n<li class=\"c-checklist__item\">No chargeback reimbursement guarantee for approved transactions<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Microsoft-Dynamics-365.jpg\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>Microsoft Dynamics 365<\/span><\/h3>\n<p>Microsoft Dynamics 365 is an enterprise resource planning software suite that combines sales, marketing, finance, and operations tools into a single platform. Among its modules is Fraud Protection, an AI-enabled solution that helps eCommerce merchants analyze connected data streams for malicious activity in real-time.<\/p>\n<p>Microsoft Dynamics 365 Fraud Protection can safeguard merchants from a wide range of illicit activities, including <a class=\"wpil_keyword_link\" href=\"https:\/\/chargebacks911.com\/ecommerce-fraud\/account-takeover-fraud\/\" title=\"Account Takeover Fraud\" data-wpil-keyword-link=\"linked\" data-wpil-monitor-id=\"2013\">account takeover fraud<\/a>, refund fraud, fake product reviews, reseller fraud, payment fraud, and free trial abuse.\u00a0<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Seamless integration with other Microsoft products, both inside and outside of Dynamics<\/li>\n<li class=\"c-checklist__item\">Available as both a cloud and an on-premises offering<\/li>\n<li class=\"c-checklist__item\">Uses adaptive AI technology that improves over time<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Complex setup and onboarding process<\/li>\n<li class=\"c-checklist__item\">No free trial<\/li>\n<li class=\"c-checklist__item\">Expensive and intended exclusively for enterprise customers<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<div class=\"c-shortcode-ebook c-shortcode-ebook--guide\"><a href=\"http:\/\/ad.chargebacks911.com\/rebuttal-letter-ebook-lp\/\" class=\"c-shortcode-ebook__block\" target=\"_blank\"><div class=\"c-shortcode-ebook__inner\"><div class=\"c-shortcode-ebook__graphics\"><div class=\"c-shortcode-ebook__graphics-inner\"><div class=\"c-shortcode-ebook__ipad\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/chargebacks911.com\/wp-content\/themes\/CB911\/assets\/img\/shortcodes\/ebooks\/ipad--rebuttal-letters.png\" alt=\"Writing\" winning=\"\" chargeback=\"\" rebuttal=\"\" letters=\"\"\/>\n\t\t\t<\/div>\n\t\t\t<div class=\"c-shortcode-ebook__cover\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/chargebacks911.com\/wp-content\/themes\/CB911\/assets\/img\/shortcodes\/ebooks\/cover--rebuttal-letters.png\" alt=\"Writing\" winning=\"\" chargeback=\"\" rebuttal=\"\" letters=\"\"\/>\n\t\t\t<\/div><\/div><\/div><div class=\"c-shortcode-ebook__content\"><span class=\"c-shortcode-ebook__title\"><span>Writing Winning<\/span> Chargeback Rebuttal Letters<\/span><p class=\"c-shortcode-ebook__description\">Learn how to create a winning debit or credit card chargeback rebuttal letter. Download our rebuttal letter template and writing checklist today.<\/p><span class=\"c-btn c-btn--primary c-shortcode-ebook__btn\">Get the FREE guide<\/span><\/div><\/div><div class=\"c-shortcode-ebook__close\" data-shortcode-ebook-close=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\" fill=\"currentColor\"><path fill-rule=\"evenodd\" d=\"M4.293 4.293a1 1 0 011.414 0L10 8.586l4.293-4.293a1 1 0 111.414 1.414L11.414 10l4.293 4.293a1 1 0 01-1.414 1.414L10 11.414l-4.293 4.293a1 1 0 01-1.414-1.414L8.586 10 4.293 5.707a1 1 0 010-1.414z\" clip-rule=\"evenodd\"><\/path><\/svg><\/div><\/a><div class=\"c-shortcode-ebook__overlay\"><\/div><\/div>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Company-Squares-02-RADIAL.png\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>Radial<\/span><\/h3>\n<p>Radial is a fraud protection and order fulfillment provider that\u2019s tailored for the eCommerce industry. R<a href=\"https:\/\/chargebacks911.com\/fraud-risk-management\/\" title=\"Fraud Risk Management\" data-wpil-monitor-id=\"1505\">a<\/a>dial Fraud Zero, the company\u2019s main anti-fraud service, is a fully-outsourced fraud management solution that protects merchants from unauthorized purchases and lowers chargeback risks.<\/p>\n<p>The company\u2019s offering is backed by a $0 liability guarantee for chargebacks arising from approved orders.<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Fully-managed, end-to-end fraud protection solution<\/li>\n<li class=\"c-checklist__item\">Tailor-made for eCommerce providers<\/li>\n<li class=\"c-checklist__item\">Can be integrated with other services, like order fulfillment and payment processing<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Opaque pricing structure<\/li>\n<li class=\"c-checklist__item\">User interface may be difficult to use<\/li>\n<li class=\"c-checklist__item\">Difficult to filter data for more precise insights\u00a0<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Riskified.jpg\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>Riskified<\/span><\/h3>\n<p>Riskified is a fraud monitoring and decisioning platform that analyzes over 480 data attributes to reduce fraud and abuse. The solution is tailored to merchants in a variety of different verticals, including retail, luxury fashion, digital products, travel, and athletics.<\/p>\n<p>The company\u2019s real-time fraud prevention solution uses deep learning, smart linking, and decision optimization techniques trained on over 1 billion past data points to make accurate decisions for merchants at scale.<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Optimized for compliance with <a href=\"https:\/\/chargebacks911.com\/PSD2\/\">the EU\u2019s PSD2 regulation<\/a><\/li>\n<li class=\"c-checklist__item\">High true positive and low false negative rate in fraud detection<\/li>\n<li class=\"c-checklist__item\">Flexible and integrates seamlessly with other eCommerce tools<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Steep learning curve for some new users<\/li>\n<li class=\"c-checklist__item\">Limited insight into the fraud decisioning process<\/li>\n<li class=\"c-checklist__item\">Prices are high and tend to increase often<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Company-Squares-02-SIFT.png\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>Sift<\/span><\/h3>\n<p>Sift is an AI-powered trust and safety platform that helps eCommerce, fintech, and travel companies reduce account takeover, payment fraud, chargeback fraud, and policy abuse risks.<\/p>\n<p>The company\u2019s payment protection, account defense, dispute management, and content integrity solutions help businesses reduce fraud rates by an average of 2.5%.<\/p>\n<p>The company\u2019s fully-customizable platform has been awarded more than 40 patents and is compliant with the EU\u2019s PSD2 and PSD3 regulations.<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Tight integrations with other SaaS tools in the eCommerce industry<\/li>\n<li class=\"c-checklist__item\">Data is easy to search and provides clear summary information via a Sift Score<\/li>\n<li class=\"c-checklist__item\">Robust fraud decisioning tool that can correctly resolve edge cases<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Initial setup process may be cumbersome<\/li>\n<li class=\"c-checklist__item\">Occasional downtime, user interface glitches, or technical errors<\/li>\n<li class=\"c-checklist__item\">Opaque risk scoring methodology<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Signifyd.jpg\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>Signifyd<\/span><\/h3>\n<p>Signifyd is a fraud detection tool for eCommerce merchants that detects unusual activity at each stage of the conversion funnel, from account creation and initial login to checkout and refund request.<\/p>\n<p>Customers who implement the solution usually see a 5% to 9% increase in revenue. And, merchants who use Signifyd are backed by the company\u2019s 100% chargeback reimbursement guarantee. If a purchase approved by Signifyd ends up being fraudulent, the merchant is fully indemnified for the loss.<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Platform is easy to use and understand<\/li>\n<li class=\"c-checklist__item\">Integrates seamlessly with other eCommerce tools, like Magento<\/li>\n<li class=\"c-checklist__item\">The Payments Optimization module is compliant with EU payments regulations and supports strong customer authentication (SCA)<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Custom checkout flows are difficult to implement and require code changes<\/li>\n<li class=\"c-checklist__item\">Customer transactions that are flagged as fraudulent may take time to manually approve<\/li>\n<li class=\"c-checklist__item\">Can be expensive; not suitable for all SMBs<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<div class=\"parentbox\">\n\n<span class=\"imgbox\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-41928\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2022\/03\/Company-Squares-02-TRANSUNION.png\" width=\"125\" height=\"125\" alt=\"\"\/><\/span>\n<div class=\"txtbox\">\n<h3 class=\"header\"><span>TransUnion<\/span><\/h3>\n<p>TransUnion is one of three consumer credit bureaus in the United States. The company maintains the credit histories of more than 500 million individuals and businesses globally, granting it access to data that can be used to combat fraud at inception.<\/p>\n<p>The company\u2019s fraud prevention, advanced analytics, investigative, customer engagement, and communications solutions equip financial services firms, healthcare companies, and public sector agencies with the tools to prevent and detect fraud.<\/p>\n<\/div>\n\n<\/div>\n<div class=\"leftpad\">\n<div class=\"procon row\">\n<div class=\"col-md-6 pcborder\">\n<p class=\"headblue\">Pros:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-1 c-checklist--color-blue\">\n         <li class=\"c-checklist__item\">Full suite of fraud prevention and detection tools for enterprise clients<\/li>\n<li class=\"c-checklist__item\">Deep insights into consumer and business via extensive credit-related data collection<\/li>\n<li class=\"c-checklist__item\"><a class=\"wpil_keyword_link\" href=\"https:\/\/chargebacks911.com\/credit-card-fraud-investigation\/\" title=\"Fraud investigation\" data-wpil-keyword-link=\"linked\">Fraud investigation<\/a> capabilities for companies who need to locate individuals<\/li>\n<\/ul>\n\n\n<\/div>\n<div class=\"col-md-6\">\n<p class=\"headred\">Cons:<\/p>\n<span style=\"font-weight: 400;\"><\/span>\n<ul class=\"c-checklist c-checklist--style-2\">\n         <li class=\"c-checklist__item\">Strictly an enterprise product; not for SMBs<\/li>\n<li class=\"c-checklist__item\">Information heavily based on past history rather than predictive insights<\/li>\n<li class=\"c-checklist__item\">Opaque pricing structure<\/li>\n<\/ul>\n\n\n<\/div>\n<\/div>\n\n\n<\/div>\n\n<hr \/>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Remember Best Practices<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Using fraud detection tools is critically important. They won\u2019t accomplish much if you don\u2019t ensure you\u2019re following best practices, though.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Take order rescreening, for example. Assume that a buyer makes a purchase, but later wants to modify the order by changing the shipping address. Fraudsters can use this loophole to disguise attacks or redirect legitimate purchases. Making modifications needs to be an easy process for customers, but you can\u2019t ignore best practices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All order modifications should be screened and evaluated for fraud. Most companies neglect this process since the order itself has already been screened. Rescreening, however, is an essential step in preventing post-transactional fraud.<\/p>\n\n\n<a href=\"https:\/\/chargebacks911.com\/ecommerce-fraud-prevention-best-practices\/\" class=\"c-btn c-btn-lg c-btn-default\">Discover more fraud prevention best practices<\/a>\n\n\n\n<p class=\"wp-block-paragraph\">That\u2019s one example, but it\u2019s far from comprehensive. You need to take the time to deploy and manage each tool in the most effective way possible. Of course, this isn\u2019t always easy. You may sometimes need a partner to help maximize your efforts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Advanced Fraud Detection for Better Revenue Recovery<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Adopting multiple different online fraud tools is the only way to fight back effectively. But, even with numerous fraud detection and <a href=\"https:\/\/chargebacks911.com\/fraud-prevention\/fraud-detection\/\">fraud prevention tools<\/a> at your service, there\u2019s still no guarantee that you\u2019re protected. You\u2019ll still run up against two key limitations:<\/p>\n\n\n\n<div class=\"c-icon-boxes c-icon-boxes\">\n    <div class=\"c-icon-box c-icon-box--two c-box-glow--red\">\n        <div class=\"c-icon-box__inner\">\n\n            <div class=\"c-icon-box__icon\">\n                <img decoding=\"async\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2023\/07\/NEW-ICONS-DuoTone-fraud-imposter.svg\" alt=\"Not All Fraud is Criminal\"\/>\n            <\/div>\n\n            <h3 class=\"c-icon-box__title c-icon-box__title--center\">Not All Fraud is Criminal<\/h3>\n            <p class=\"c-icon-box__copy\">Conventional fraud detection tools have no impact on threats like friendly fraud. You\u2019ll need additional help to deal with this and other threats to your revenue.<\/p>\n\n        <\/div>\n    <\/div>\n\n    <div class=\"c-icon-box c-icon-box--two c-box-glow--red\">\n        <div class=\"c-icon-box__inner\">\n\n            <div class=\"c-icon-box__icon\">\n                <img decoding=\"async\" src=\"https:\/\/chargebacks911.com\/wp-content\/uploads\/2021\/12\/chargeback-management-software-DuoTone-Lineal-Icons_DuoTone-Iconz-copy-17.svg\" alt=\"A Tool is Only as Effective as Your Strategy\"\/>\n            <\/div>\n\n            <h3 class=\"c-icon-box__title c-icon-box__title--center\">A Tool is Only as Effective as Your Strategy<\/h3>\n            <p class=\"c-icon-box__copy\">Having multiple tools to fight fraud won\u2019t be enough. You need a coordinated, carefully planned strategy to make the most of the tools at your disposal.<\/p>\n\n        <\/div>\n    <\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Here at Chargebacks911\u00ae, we specialize in <a href=\"https:\/\/chargebacks911.com\/friendly-fraud\/\">preventing post-transactional fraud<\/a> that criminal fraud tools like those listed above can\u2019t reach. We work alongside other technologies to provide comprehensive, multilayered fraud defense. Continue below and get a free ROI analysis today.<\/p>\n\n\n\n<div class=\"c-shortcode-faq\" data-shortcode-faq=\"true\" class=\"wp-block-cb911-block-library-faq\"><div class=\"c-shortcode-faq__inner\"><h2 class=\"c-shortcode-faq__heading joli-heading\" id=\"faqs\">FAQs<\/h2><div class=\"c-shortcode-faq__items\">\n\n<div class=\"c-shortcode-faq__item\" data-shortcode-faq-item=\"true\" class=\"wp-block-cb911-block-library-faq-item\"><div class=\"c-shortcode-faq__item-inner\"><div class=\"c-shortcode-faq__icons\"><div class=\"c-shortcode-faq__icons-inner\"><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--minus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--plus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><\/div><\/div><h3 class=\"c-shortcode-faq__question\">What is the most common fraud detection method?<\/h3><p class=\"c-shortcode-faq__answer\">The most common fraud detection method is a tip from a whistleblower, which is responsible for uncovering 43% of fraud cases. according to data from the Association of Certified Fraud Examiners\u2019 2024 Report to the Nations. Other common fraud detection methods include internal audits (14%) and management review (13%). Rules-based systems and predictive analytics also help in uncovering fraud.<\/p><\/div><\/div>\n\n\n<div class=\"c-shortcode-faq__item\" data-shortcode-faq-item=\"true\" class=\"wp-block-cb911-block-library-faq-item\"><div class=\"c-shortcode-faq__item-inner\"><div class=\"c-shortcode-faq__icons\"><div class=\"c-shortcode-faq__icons-inner\"><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--minus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--plus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><\/div><\/div><h3 class=\"c-shortcode-faq__question\">What are the basics of fraud detection?<\/h3><p class=\"c-shortcode-faq__answer\">Fraud detection solutions rely on data mining, anomaly detection, and predictive analysis techniques to detect fraud. Fraud detection systems typically use machine learning techniques to process large amounts of data. They then flag anomalies, outliers, unusual patterns, or other red flags in the data stream as potential fraudulent activity.<\/p><\/div><\/div>\n\n\n<div class=\"c-shortcode-faq__item\" data-shortcode-faq-item=\"true\" class=\"wp-block-cb911-block-library-faq-item\"><div class=\"c-shortcode-faq__item-inner\"><div class=\"c-shortcode-faq__icons\"><div class=\"c-shortcode-faq__icons-inner\"><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--minus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--plus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><\/div><\/div><h3 class=\"c-shortcode-faq__question\">What is fraud app detection software?<\/h3><p class=\"c-shortcode-faq__answer\">Fraud app detection software uses artificial intelligence and machine learning techniques to automatically analyze user activity, application information, transaction data, login information, and other forms of data. When unusual or anomalous patterns of activity within the data stream are detected, they are flagged as potential indicators of fraud.<\/p><\/div><\/div>\n\n\n<div class=\"c-shortcode-faq__item\" data-shortcode-faq-item=\"true\" class=\"wp-block-cb911-block-library-faq-item\"><div class=\"c-shortcode-faq__item-inner\"><div class=\"c-shortcode-faq__icons\"><div class=\"c-shortcode-faq__icons-inner\"><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--minus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--plus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><\/div><\/div><h3 class=\"c-shortcode-faq__question\">What are some procedures to detect fraud?<\/h3><p class=\"c-shortcode-faq__answer\">Establishing robust internal controls, conducting regular risk assessments, and participating in monitoring activities can help organizations prevent and detect fraud. For example, an organization can set up an anonymous whistleblower hotline, hire auditors to perform internal and external audits, and regularly review activities to ensure compliance with established controls. Data analytics tools that aid in predictive analysis can also be deployed to detect fraud.<\/p><\/div><\/div>\n\n\n<div class=\"c-shortcode-faq__item\" data-shortcode-faq-item=\"true\" class=\"wp-block-cb911-block-library-faq-item\"><div class=\"c-shortcode-faq__item-inner\"><div class=\"c-shortcode-faq__icons\"><div class=\"c-shortcode-faq__icons-inner\"><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--minus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><div class=\"c-shortcode-faq__icon c-shortcode-faq__icon--plus\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M20 12H4\"><\/path><\/svg><\/div><\/div><\/div><h3 class=\"c-shortcode-faq__question\">What are the key processes used for fraud detection?<\/h3><p class=\"c-shortcode-faq__answer\">Fraud detection initiatives should begin with an assessment and ranking of the organization\u2019s fraud risks. Once the control environment has been determined, fraud teams should establish new and test existing internal controls to evaluate their effectiveness. Organizations can also leverage data analytics solutions to aid in ongoing fraud monitoring activities.<\/p><\/div><\/div>\n\n<\/div><\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<h2 class=\"wp-block-heading\">The 10 \u201cMust-Have\u201d Fraud Detection Tools &amp; Best Fraud Prevention Solutions<\/h2>\n<p>Here\u2019s a startling statistic: according to the Merchant Risk Council, the amount merchants spend to tackle online fraud increased five-fold between 2019 and 2021.<\/p>\n<div><a class=\"btn-filled btn\" href=\"https:\/\/chargebacks911.com\/fraud-detection-tools\/\" title=\"Fraud Detection Tools\">Read More<\/a><\/div>\n","protected":false},"author":9192225,"featured_media":72359,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_crdt_document":"","inline_featured_image":false,"footnotes":""},"categories":[55],"tags":[43,66,42,92],"class_list":["post-41421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fraud-prevention","tag-fraud","tag-management","tag-prevention","tag-tools"],"acf":[],"_links":{"self":[{"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/posts\/41421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/users\/9192225"}],"replies":[{"embeddable":true,"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/comments?post=41421"}],"version-history":[{"count":10,"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/posts\/41421\/revisions"}],"predecessor-version":[{"id":94661,"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/posts\/41421\/revisions\/94661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/media\/72359"}],"wp:attachment":[{"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/media?parent=41421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/categories?post=41421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chargebacks911.com\/wp-json\/wp\/v2\/tags?post=41421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}