Fraud prevention si mar2014

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Information about Fraud prevention si mar2014
Finance

Published on March 20, 2014

Author: eranfeinstein

Source: slideshare.net

Description

Online Fraud Prevention - trends and mitigation

Why 3G Direct Pay Limited ? • Fills the gap between the providers and the consumers since 2006 • End-to-end online payments platform • Pay online to any travel provider • Be paid online by any of your customers • All modes of payments and all currencies (USD, KES, EUR, GBP, TZS and more..) | 3G DIRECT PAY LIMITED | MAR 2014 |20/03/14

How we do it? | 3G DIRECT PAY LIMITED | MAR 2014 | The Platform / Technology • Real time payments platform • Online and offline transactions Customer Care • To the provider • To the consumer! Fraud Prevention • Real-time monitoring and screening • Highly skilled team 20/03/14

How we do it? Express B2B payments platform • Any provider can pay online to other providers • Real-time payment confirmation • Easy to pay and easy to be paid | 3G DIRECT PAY LIMITED | MAR 2014 |20/03/14

How we do it? • mSwipe • Mobile payment app • Charge the customer anywhere and anytime | 3G DIRECT PAY LIMITED | MAR 2014 |20/03/14

| 3G DIRECT PAY LIMITED | MAR 2014 | Our Network 26 Airlines, more than 180 hotels, more than 320 agents & tour operators 20/03/14

FRAUD PREVENTION MAR/2014 3G DIRECT PAY LIMITED

Worldwide Fraud Trends source: http://www.theukcardsassociation.org.uk 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Worldwide Fraud Trends source: http://www.theukcardsassociation.org.uk 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Worldwide Fraud Trends source: http://www.theukcardsassociation.org.uk 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Where is the Risk? Classic Fraud >> RISK LEVEL: low to med to the merchant Stolen credit card Identity theft Merchant Fraud >> RISK LEVEL: high to the PSP (bank) Fake agent Professional fraudster Friendly Fraud >> RISK LEVEL: low to the merchant General dispute 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Online Fraud – How Does It Works? Classic Fraud – Individuals General Characteristics Individual fraudster, One-time campaign, access to stolen cards list (low quality), no ‘fine’ details The Service Flight/s, One way, City hotel, One night, short term booking Passenger The fraudster, family member, friend 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Online Fraud – How Does It Works? Classic Fraud – Mass operation General Characteristics Individual/group, professional fraudster/s, massive stolen cards list (low quality), acting as an agent, no close relationship with the passengers, massive payment attempts, very low conversion rate The Service Flight, one way and return Passenger Not the fraudster, no idea that the service paid using stolen card 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Online Fraud – How Does It Works? Classic Fraud – Professionals and Identity Theft General Characteristics Groups only – organization, stole cards list – high quality, access to the card holder details The Service Flights, accommodation Passenger The passenger is also a professional fraudster 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Online Fraud – How Does It Works? Merchant Fraud General Characteristics ‘well organized scam..’, mitigating the KYC procedures, designed websites, long term operations The service Detailed service, package, accommodation Passenger Fake but well designed identity 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

The Concept More intelligence and less barriers/check-points Know your customer Sophisticated monitoring surveillance system Highly trained fraud prevention specialists 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Fraud Prevention - Technology State of the art monitoring and control system Real-time processes Detect patterns Detect threats Block transactions Isolate, tag and monitor Specialized in the East African online market All modes of payments Credit/debit/pre-paid , mobile money, bank transfers and more 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Fraud Prevention – Instant Alerts Real-time alerts High risk patterns – known and new patterns Combination of alerts and transaction/users block 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Fraud Prevention – Scoring Mathematical module Standard scale – multiple profiles 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Fraud Prevention – Screening The Golden Rule KNOW YOUR CUSTOMER 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Fraud Prevention – Procedures Basic Check-List Do I know this customer? Service details Customer details Who is/are the PAX? 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

Fraud Prevention – Procedures Check-in Ask the customer to present the credit card 20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

20/03/14 | 3G DIRECT PAY LIMITED | MAR 2014 |

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