Online Fraudster’s never sleep: neither do Ogone Fraud Experts

The newest addition to Ogone’s suite of online payment protection tools, ‘Ogone Fraud Expert’™ has been officially launched to provide merchants with a highly secure yet flexible solution to their online fraud protection needs. In addition to the existing merchant-specific analysis tools, the new product features the latest protection technology including: device fingerprinting, over 20,000 control rules, a database of pooled industry and merchant knowledge as well as the option of outsourcing dubious transactions checks to Ogone’s team of expert fraud consultants.

Brussels, 14 June 2013 - Ogone, a leading global online payment services specialist, has upgraded its on-line fraud protection package with the latest detection technology tools and launched a new product, Ogone Fraud Expert™. Merchants are being offered improved protection against online fraudsters which features the added benefit of helping those merchants increase their online payment revenues by reducing the rejection of legitimate transactions and the costs relating to automatic or manual checks.

Giving merchants the flexibility to set their own rules, according to their unique circumstances, Ogone is providing them with the ability to relax the automatic transaction blocking criteria, while, at the same time, benefiting from an ‘expert safety net’ of a second level of protection for any transaction identified as ‘’dubious’’. Ogone Fraud Expert™ comprises of: a set of over 20,000 control rules configured and maintained by Ogone’s specialist fraud experts, device fingerprinting for detecting suspect behaviour, a pooled knowledge database, industry specific templates and finally, the option of outsourcing on demand transaction reviews to a group of permanently available (24/7/365) fraud experts for investigation.

When fraud prevention impacts margins
As protection against online fraud, merchants have adopted an increasing number of solutions which help them to evaluate a transactions risk level by analysing certain criteria. However, most merchants, confronted by evermore inventive fraudsters, and utilising the burgeoning number of digital sales channels (e-commerce, m-commerce etc.); have tightened their blocking rules, which has led to a greater number of legitimate transactions being rejected. In many cases, this has resulted in a negative effect on their turnover. To make matters worse, the installation of anti-fraud systems requires dedicated teams, responsible for upgrading protection tools and filtering rules, investigating individually the transactions that have been flagged as suspect, and managing any possible disputes.

“All in all, most of our clients’ fraud prevention costs have increased, which means that their margins have been correspondingly hit. Ogone Fraud Expert™ has been developed in order to provide an answer to these issues by combining precise configuration of historical risk analysis assistance tools, new fraudster identification tools and the outsourcing of the checks to Ogone’s fraud consultants”, explained Filip Gosselé, Ogone’s Product Director.

Device fingerprinting plus over 20,000 evaluation rules
Fraud Expert enables merchants to relax their blocking rules, thereby reducing the automatic rejection of legitimate transactions and offers support for refining the configuration of their risk analysis criteria.

If there is any doubt about a transaction, a second, real-time level of control kicks in. First of all, the device fingerprinting tool, which recovers information from the user’s computer, whether desktop or laptop (browser used, screen resolution, etc.), in order to determine his or her “device fingerprinting” and to block transactions coming from dubious sources. In addition, an assessment of the risk level via a set of over 20,000 control rules, including certain sector-specific ones (travel, high tech, etc.), which are configured and maintained by Ogone fraud experts. Finally, merchants benefit from a pooled knowledge database (without revealing any personal data).
 
Ogone consultants’ expertise
Following the automatic checks, merchants can then decide whether or not to outsource the manual checking of dubious transactions to Ogone’s expert fraud consultants (available on a 24/7/365 basis), thus avoiding the need to set up in-house teams, operating outside working hours, for carrying out those checks themselves. “Whatever the recommendation, the final decision to accept or reject a transaction is a matter for the merchants, who remain firmly in control of their sales strategies”, Filip Gosselé concluded.