E-Commerce Fraud is becoming more and more common. The latest period surge in online purchases has naturally resulted in a greater need for e-commerce Fraud Prevention. With many retailers and brands selling online for the first time or dealing with unprecedented volumes of online orders, they are increasingly vulnerable to cybercrime, which could cause significant damage to their bottom lines.
WHAT IS IT?
E-Commerce Fraud is an illegal or false transaction made in a webshop. The big difference between physical and online payment fraud is that the card does not need to be present when making an online transaction. The fraudster simply needs the card information. Hackers can steal this information as it is often stored and transferred digitally.
Spot out fraudulent payment transactions made using stolen credit cards or user’s credentials.
Monitoring credit card information and transaction details, the XTN Cognitive Security Platform® can spot fraudulent activity based on user and merchant profiles. Behavioral Biometrics features let us recognize attackers when they try to access the service on behalf of the legitimate user and prevent the fraud from being successful.