Fraud Prevention
Cardholder Not Present Fraud – 95% Eradicated!
Situation: A major high street retailer was enjoying a significant growth in sales through its distance retailing channels – specifically over the phone and the internet. At the same time it was suffering a dramatic rise in the instances of Cardholder Not Present (CNP) fraud – a situation that was costing the business millions in lost revenue.
Solution: We worked with the retailer to identify and analyse the fraudster’s behaviour patterns and to develop a sophisticated scoring system that would rate a transaction based on pre-identified criteria and, in certain circumstances, automatically trigger a more detailed review using specialist tools and processes.
Benefits: As a direct result of the tools and processes that we put in place, our client realised a 95% reduction in the level of fraudulent transactions in less than 6 months, saving the organisation millions of pounds. A key benefit, however, was the fact that valid orders were not impacted as a result and the service levels for legitimate customers were maintained.
Click here to access the full case study.
