CNP Expo: Hone Your Basic Fraud-Fighting Skills

May 23, 2013

Although more sophisticated techniques are constantly being developed, time-tested techniques to fight fraud can be a less costly, yet still effective, alternative, according to panelists on the final day of the 2013 CNP Expo.

“A lot of the tried-and-true methods of fraud detection still work,” said Scott Adams, director of fraud and risk management for Riot Games, who moderated a morning session at 2013 CNP Expo.

A simple check would be to verify that the shipping and billing addresses are the same, said Ed Lin, CEO of antifraud solution provider Subuno. Often the postal code could be off by one or two digits, which indicates an error, not fraud. Matching phone records to the information on the card can prove that the customer is safe. A low-tech indicator of likely fraud would be when the issuing bank is in a different country from the billing address.