December 12, 2018

Solution or "Solution" ?

A scenario that has played out several times over the past few years: a client approaches me when they are bleeding money to fraud but have limited experience with fraud prevention. They’ve most likely thrown some “fraud tools” at the problem, each one providing some temporary relief, but ultimately the problem has not gone away; sometimes it’s even gotten worse. I get my eyes on their fraudulent activity, see what’s going on and come up with a way to spot it. What I have...

May 19, 2016

 

The fraud prevention industry is crowded with vendors offering machine learning solutions to online fraud. But is it right for your business?

 

Machine learning is an umbrella term for the process of developing and using statistical models to make predictions based on past data. As an example, this may entail training a model on a large number of past transactions, each labeled “fraudulent” or “legit”, then asking the model to predict whether a new transaction is fraudulent or legit. The term “ma...

March 2, 2016

 

 

Going to MRC next week to check out fraud tools? You need a checklist.

 

The fraud prevention industry is exploding with new solutions and fresh players. You need a methodical way to asses how suitable their solutions are for your business. Here are 6 essential questions for your checklist.

 

Dear Vendor…

 

  1. Business Integration: What is the full scope of integrating your solution into my business processes?

  2. Evaluation: How do I evaluate your service? Can I A/B test it against my existing so...

December 21, 2015

In the previous post I described the various factors that determine how much fraud you, the online merchant, see at your front door, and how sophisticated it is. In this post I’d like to characterize fraud’s “behavior” and infer from it the fundamentals of a good fraud prevention strategy.

 

To recap, the factors I described were:

 

  1. Visibility: If and how visible your business is to fraudsters

  2. Your competition: How good is your competitors’ fraud prevention

  3. Evolution of fraud: How prof...

October 15, 2015

​​While there is no agreement on the exact effect that EMV adoption in the US will have on online fraud, the opportunity of scaring online merchants into urgent action with a firm deadline was not missed by the security industry. ("Online fraud is coming in October because of EMV! This is what happened in Europe! Buy our tool now!")

 

But if you’re an online merchant or payment provider the EMV discussion misses the mark. Broad trends in fraud rates are not what you should worry about, since the f...

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Copyright (c) 2015, Noam Naveh