WATCH WEBINAR: How to Stay Ahead of Organized Crime on the Web
Expert advice on how to use available technologies to prevent fraud, fight fraud related chargebacks and beat organized crime.
The dark web is a well-organized and well-funded criminal ecosystem where the supply of stolen financial information on so-called “card shops” is only outpaced by the exploding demand.
By 2020, global ecommerce sales are estimated to reach $4 trillion but despite the rise of modern commerce, fraud prevention is still based on outdated methods that are rigid, time consuming, and resource constrained. With real-time systems, big data, and machine learning, the limitations of rules-based engines can be overcome so that companies can do a better job of detecting/preventing fraud and lowering false positives to drive revenue.
This requires businesses to have a strategy and the right partnerships in place to fight fraud, reduce chargebacks and gain competitive advantage. First Data’s Ajay Guru, VP, Head of Merchant Fraud Solutions and John Ten Broeck, VP Sales, Security & Fraud Solutions, lead a discussion on fraud trends and tactics, review client use cases and success stories to illustrate best practices that businesses should to adopt now:
- Reduce fraud losses without negatively impacting revenue
- Prevent fraud related chargebacks
- Implement and manage efficient fraud and risk processes