There are several ways to catch fraudulent transactions that can lead to negative consequences both for a merchant and a bank. Timely detected fraud activity can save merchant's business flow from financial losses.
Merchant should be alarmed if:
- Customer's email address or domain is suspicious;
- Customer's IP address and credit card address mismatch;
- Customer's transaction IP is from risky country;
- Shipping address is from risky country;
- Customer is using proxy;
- Customer tries to make a purchase with several credit cards in a short period of time;
- Many failed transactions in a short period of time;
- Customer tries to purchase unusually large order;
- Customer uses fake information (fake name, phone number, email etc.)
Fraudster behaviour can be even more complicated, so sometimes it becomes difficult to control fraud activity.
As an additional tool for all Maxpay merchants our own advanced, based on machine-learning anti-fraud solution Covery is available and it is free of charge. Covery helps merchants to protect their online business from various types of fraud activity and reduce chargeback risks.