The Risk-Squad Method
Back Office Strategies:
• Flag more than two attempts by the same cc number.
• Create a fraud email list in your back end
and do not allow purchases to go through. In other words,
• You MUST create email alerts that go to your fraud person, with possible fraudulent attempts.
• You MUST flag the following:
1. Weird First and last names
2. Emails that have the same name with different writing, but same mailing address.
3. Different products, same address, different email and vice versa
4. Countries with excessive fraud: Malaysia, S. Africa, Kenya, Republic of Korea, Lebanon, Morocco, Indonesia, Saudi Arabia, Tunisia, Pakistan, Ukraine, Nigeria, Bangladesh.
5. Repeated charges/attempts multiple days within 2-3 months. These have proven to be 99% fraudulent.
Make sure the cc codes apply to the country of receipt.
There are a ton of US cards with delivery of goods/services to China, India, etc.
These should be blocked.
What a Credit Card can reveal:
• Issuer Identification Number (IIN) or Bank Identification Number (BIN)
• The first 6 digits of your credit card number (including the initial MII digit) form the Issuer
Identifier Number or IIN. The IIN is also referred to as the Bank Identification Number or BIN.
These digits identify which organization issued the credit card. You can lookup the issuing organization on the Internet using a BIN Database service (https://www.bindb.com/bin-database.html).
In electronic commerce the BIN number can be very useful.
• BIN databases typically show the type of card like Debit or Credit, brand of card (e.g. Visa, MasterCard, Discover, American Express, etc.), and level of card such as Classic, Standard, Gold, Platinum, and World Signia
. The database contains other details about the card like the $300 card
limit on the Tribute Mastercardor if the card is ATM Only, Cirrus, Electronic Only, Gift,
Maestro, or Prepaid. Issuing bank, country ISO name, ISO A2 country code, and ISO A3
country code are also available.