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Reporting fraudulent transactions

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  • 16-03-2016 10:06am
    #1
    GoodBridge
    Closed Accounts Posts: 201 ✭✭


    To any of you who have online businesses: if/when you receive blatantly obvious fraudulent transactions, do you report them anywhere or just void the transaction and cancel the order?

    I'm with Realex. When I contact them they don't want to know about it. When I contact the Gardai they don't either (when pushed on it, I was told "if I wanted" I could travel up to the Garda station local to the delivery address and report it in person- I can imagine how that will go).

    I tried implementing 3D Secure check before (i.e. Verified by Visa/MasterCard SecureCode extra step) but unfortunately saw an increase in cart abandonment and decrease in sales. That was a few years ago now though. Maybe I'll try it again.
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    #2
    VincePP
    Closed Accounts Posts: 982 ✭✭✭VincePP


    You can do nothing about it - simply delete and ignore. Usually these people are in different countries and gardai have no power there.

    Yes it would be great if there was a way, but card compnay's accept a level of fraud and by passing the risk to the retailer a few years ago, they don't give a damn.

    The good news is realex's new platform shows you loads of information including ip address of customer, location of that IP address, issuing bank and issuing country of the card. It also shows if a card has been used and rejected - scammers will try several cards until one gets through, so a lot of red rejected cards will show n the dashboard.

    We automatically check the dashboard every day to see if there's any suspicious action. We've managed to onlky have one fraudulent order get through in 12 months. We've stopped about 20. Considering we process about 200 orders a week, we're happy with our system - i agree the abandonment rate with 3d secure is massive.


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    #3
    ContentInfo
    Closed Accounts Posts: 5 ✭ContentInfo


    Hi GoodBridge,
    Personally I find Verified by Visa a pain.

    Sadly, other than the retailer no one seems interested in card fraud until it happens ie card payment is taken.

    I/we never process a card tranaction above a certain value without checking all aspects of a sale. There are fraud prevention solutions out there but for a small retailer they are financially out of reach ie people like TrustDev are very smart with their transaction vetting.

    All you can do is actively monitor the orders and over time you and your team will learn to pick up the the majority of the bogus ones.

    Sorry, not offering you any real solutions but you're not alone.

    Best of luck.


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