If you’re interested in offering your clients the best possible defense against credit card fraud, you should already be familiar with AVS (Address Verification Service) and CVV (Card Code Verification). But even then, this might not be enough. Crooks are crafty these days, which is why Authorize.net offers an even more effective fraud fighting tool.
Advanced Fraud Detection Suite. This is essentially a set of filters that you can customize to help you and your client detect and prevent fraudulent credit card transactions. The AFDS is a merchant account service that can be added at yours or your client’s discretion.
- Hourly Velocity Filter. Since it’s typical for credit criminals to submit repeated charges, this tool sets a limit to the number of transactions that will be approved for a single credit card in an hour.
- Shipping/Billing Mismatch Filter. A different shipping address isn’t always an indication of credit card fraud, but these types of transactions definitely require closer scrutiny.
- Transaction IP Velocity Filter. This identifies the IP address credit card charges are coming from and sends up a red flag if a high number of transactions are being made from a single source.
- Suspicious Transaction Filter. This actually takes information gathered by Authorize.net’s Fraud department and reviews suspicious transactions against established criteria to try to identify fraudulent activity.