Web 2 Expo: The Arms Race of Online Payment Fraud

By April 02, 2009 1 comment

Online payment fraud is always more risky because it looks “safe” to steal: all you need is a valid credit card, and there are lot of new high-tech tools for defrauders. The fraud is so sophisticated (malware, imitation sites

…) that its detection becomes a real challenge.

A key to detecting fraud is to use multiple tools, like customer behaviour analysis, address and card identification (address-verification services call customers for a confirmation), and IP-localisation information.

Major fraud rings are located in Eastern Europe and the former Soviet Republic, with an emergence in Malaysia and Indonesia. US defrauders use foreign servers to avoid being tracked. The USA is considered safe, but some countries are safer (France, Austria, Japan, UK, New Zealand), so firms have to think globally.

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1 Comment


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Submitted by TopDog (not verified) - on April 17, 2009 at 11:33 pm

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