From Bouncer to Revenue Generator: Machine Learning in Fraud Prevention

As technology and fraud techniques advance, businesses need to move beyond traditional fraud detection techniques and incorporate user behavioral features to boost accuracy. In this double presentation, Agoda and Booking.com will share how they leverage behavioral features to detect fraud in the travel industry. Agoda will explore the process of generating behavioral features, the technology behind incorporating them into machine learning models, and some of the techniques used to amplify the difference between fraudulent and non-fraudulent behavior. Booking.com will share their approach to detecting fraudulent hotel listings, which includes a multi-stage machine learning system that monitors the behavior of new hotels as they onboard onto the platform . The models monitor hotel actions from the early stages of signup up until the hotel is live on the website and interacting with guests.

What we’ve seen emerge from the pandemic are two types of consumers – experienced online shoppers and new online shoppers. Merchants need to personalize their ecommerce stores to meet the needs of both groups. 

In this presentation, ClearSale’s EVP and Partner Rafael Lourenco will share important insights from ClearSale's State of Consumer Attitudes on Ecommerce, Fraud & CX annual study, which measures and tracks ongoing shifts in consumer behavior as ecommerce evolves. 

Get in-depth knowledge on what keeps customers coming back to your online store. It is no surprise that price and shipping are at the top of the list, but the customer experience is emerging as a deciding factor for success. Additionally, Rafael will share how payment barriers impact consumers and why payment options, such as digital wallets, BOPIS, BNPL are gaining massive popularity, especially among younger consumers.

A discussion About key 3DS data statistics combined with actual merchant data: 

Based on (public stats from) Visa, sending more data can increase successful authentications and more approved authorization. PAAY starting to see some of that success on a client that started to send additional data elements recently - their fraud numbers have dropped. 

Adobe's perspective on why they are implementing usage of 3DS and what more they’d like to see from it.

Merchants often struggle to get the data and tools they need to protect themselves. Getting buy-in from business stakeholders, managing vendor performance, and getting projects on the tech team's roadmap can take more time than fighting fraud itself. 

Join this merchant panel as we explore pathways to get out of whack-a-mole fraud fighting, including the adoption of Journey-Time Orchestration (JTO). 

In this session, attendees will learn how merchants can use JTO to: 

1. Transform siloed solutions into a holistic view of customer risk. 

2. Stay on top of changing fraud and business needs. 

3. Partner with leaders in marketing, growth, and security to drive exceptional business outcomes.

Bot protection is the foundation of online fraud prevention. With the proliferation of bots and their potential to cause financial losses and reputational damage, it is crucial for website owners to defend themselves against automated threats.

Yet our recent analysis of 2,400+ UK websites found that a significant majority of UK-based digital businesses are inadequately protected against simple bot attacks.

Ultimately, in the world of payments, success depends on human factors, like how consumers perceive and respond to risk, reward and effort.

Against this backdrop, Token surveyed over 1,000 people across Europe about the attitudes, preferences and behaviours shaping their financial and digital lives.

Token presents: "Who Will Pay by Bank" a data-driven look at the human element that will fuel the future of open banking payments.

A glimpse into this report:

• Learn which consumers are paying by bank today and where will we see demand tomorrow
• Discover the behaviours and opportunities that could support continued uptake of account-to-account (A2A) payments
• Understand how consumers in Europe perceive the benefits of A2A payments and other payment methods on a country-by-country basis
• Uncover how consumers understand open banking's evolving role in their lives
• Read commentary from the Open Banking Implementation Entity, Open Banking Expo, American Express, Ban

AI like ChatGPT is already being used by scammers to phish customers and attack merchants at scale. The ability to instantly create realistic-looking invoices, password resets and chargebacks has given the fraudsters a new tool in their arsenal. It's time for merchants to fight back. We can fight AI with AI.

In this talk with Sardine CEO Soups Ranjan we'll demonstrate how combining tried and tested methods with evolving approaches can help merchants step up their game.

Learning Objectives:

• What have LLMs like ChatGPT allowed fraudsters to do
• How scaling up attacks can be met with scaling up defense against chargebacks
• How a little bit of friction can be a good thing
• The role of intrinsic vs extrinsic AI
• A strategy to get the highest conversion

This webinar discusses how email verification and fraud prevention solutions can help businesses improve their email deliverability rates, reduce spam, and increase ROI while protecting their email reputation by identifying spam traps. As well as the benefits of having a frictionless user experience for businesses.

This webinar will cover key learning points, including:

• The benefits of email reputation scoring in identifying fake accounts, high-risk payments, chargebacks, bots, and similar high-risk behavior.
• Leveraging email intelligence to identify newly created email addresses, bot-generated accounts, and high-risk behavior.
• How email verification and fraud prevention solutions can help businesses improve email deliverability rates and inboxing rates (less hitting of the spam folder). This can in turn boost customer engagement and revenue.
• The role of fraud prevention solutions in identifying and preventing fraudulent activity related to email, including phishing attacks, account takeover attempts (ATO), business email compromise (BEC), and other scams.
• How fraud prevention solutions can help businesses achieve a frictionless user experience while maintaining strong security measures. This reduces the risk of fraud while improving the customer experience.

Fraudsters run a business. They’re nimble, agile and creative, and the fraud toolkit never cease to expand. From stolen credentials to synthetic identities, location and IP spoofing, they have hundreds of ways to circumvent traditional fraud prevention strategies. Beyond what we have been doing for the past decade, there are new ways, and new datapoints we can leverage to disrupt fraudsters’ businesses. Advanced location intelligence and IP address analysis, modern device profiling and innovative identity proofing tools all help high risk industries stay ahead of fraud. But this cutting edge tech can be hugely beneficial to merchants, and doesn’t require extensive technical expertise or big fraud investigation teams to implement. It can be transformative to our business, help reduce losses, but most importantly, help build trust and loyalty with our customers.

Learning Objectives:

• How advanced geolocation data and other advanced data points serve as a critical first line of defense against fraud
• How those datapoints can help prevent, not only transaction fraud, but also subscription fraud, account takeovers and abusive chargebacks as well as first-party fraud
• Innovative and effective tools to combat the threats posed by anonymous actors online
• Success stories and real-life examples of how this technology is used every day
• How geolocation can help merchants collaborate more effectively with law enforcement

Company reputations can be made and broken in the blink of an eye. With the vast choices now available to online shoppers, it is up to eCommerce merchants to make a series of vital decisions in order to build and maintain positive customer experiences (UX).

It may not seem evident from the outset, but choosing the right or wrong anti-fraud system can significantly improve or damage every customer journey, from start to finish. This is why it is crucial to find the perfect solution to beat fraudsters by using non-invasive ID authentication measures (while being PSD2 and 3DS2 compliant). Thankfully, there are easy-to-implement and cost-effective solutions to ensure things run seamlessly.

We aim to present to you how choosing advanced fraud solutions, you not only benefit from protecting your online payment process by stopping fraud before it happens, but securing your business, your customers, and the overall UX. The key to success lies in a holistic approach to fraud management, which includes the use of behavioral biometrics and digital fingerprinting to understand user intentions and motivations, device and network settings to weed out automated bots, but also uncover fraudsters and dishonest customers hiding their true identities and locations.

How does this benefit the customer journey? Test 5,000+ pieces of data takes place automatically and in real-time, all powered by machine learning models and completely unseen by customers. From registration, use of service, making payments, and effective resolution of returns and disputes - you can stop fraudsters and dishonest customers before they’ve had a chance to do any damage. By building a safe and frictionless service path, you ensure new and existing customers are happy, value your service and will continue to use it. All of this converts into a positive online reputation - a vital currency in the digital age!

Join our webinar to discover how to achieve the perfect customer UX without a drop in security.

Learning Objectives:

• Awareness of how advanced fraud solutions can help build and maintain a positive customer UX
• To understand the benefits of behavioral biometrics in fraud prevention to aid the process of frictionless ID authentication
• How machine learning models aid analyses of behavioral biometrics and digital fingerprinting to weed out fraudsters and dishonest customers while ensuring a positive customer UX
• Awareness of the different anti-fraud systems used by e-Commerce merchants and how their choices can result in a friction-full or frictionless UX
• How Nethone authenticates every single digital service user at every stage of the customer journey

How iGaming Industry Growth and Fraud Correlate:

The global online gambling market size has a compound annual growth rate of 13.2%. Driven by the popularity of mobile gaming, the market value is projected to generate just over $117 billion by 2025.

This massive industry growth has led to fraud increases. For example, bonus abuse rose 72% between 2018 and 2019, and account takeovers increased by 90% from 2020 to 2021, costing an estimated $11.4 billion in damage. Balancing fraud prevention with a positive customer experience is a big challenge for operators. But there is a solution. And awareness of common types of fraud and how to stop them is the first step.

We all know that merchant acquirers and payment facilitators are responsible for customer chargebacks caused by fraudulent sub-merchants. Some people in payments processing and fintech think of this kind of fraud as just the “cost of doing business.” In reality, it can mean the difference between being profitable or going out of business.

Fortunately, there’s an additional set of data that can be easily integrated into your onboarding process to reduce the number of fraudulent sub-merchants making it onto your system: advanced location signals. In this white paper, GeoComply shares how fraudsters easily manipulate IP addresses to fake their location, and how using modern geolocation data to determine a user's true location improves efficiency and confidence when onboarding new sub-merchants.