How to Create a Fraud Prevention Unit

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.

Machine Learning is widely applied in the field of fraud detection but is not often used as a way to approach post-payment fraudulent behaviors, especially for identifying what is first-party misuse as opposed to third-party fraud.

This presentation explores the Machine Learning-based system Booking.com developed to detect first-party fraud and recover losses, including the issues they faced in maintaining this solution and the KPIs they used to measure success.

When it comes to payment costs, there's room for making them more transparent and understandable for all parties.

This presentation explores methods for analyzing payment costs and driving more transparency within the payment cost structure, as well as discussing the question of going local or not; a critical component of the payment cost equation.  

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The Merchant Risk Council (MRC), Cybersource, and Verifi present the results of the 2022 Global Fraud and Payments Survey in an educational report that conveys transparent and unbiased research. This report is based on a survey of MRC and non-MRC merchants from around the globe, who were asked about their eCommerce fraud and payments practices. The survey sample included a diverse mix of small businesses (SMBs), mid-market, and enterprise merchants, representing organizations based throughout the North American, European, Asia-Pacific (APAC), and Latin American (LATAM) regions. The research was conducted in November and December of 2021.

The survey results provide the MRC merchant community with the latest industry fraud data and fraud management methods used by their peers, along with a robust set of performance benchmarks that members can use to help optimize their fraud management and prevention practices. In addition, the survey delves into today’s rapidly changing payments landscape to examine the range of different payment acceptance, management, and partnership practices merchants are deploying, globally and across key subsegments, as well as the reasons why they are adopting these payment strategies and tactics in the current commercial environment.

How well does your fraud performance stack up against the latest global performance metrics? And what new fraud trends and tactics should be on your priority list? 

In this webinar, Merchant Risk Council’s VP of Programs and Technology Tracy Kobeda Brown, Cybersource Head of Cybersource Managed Risk Solutions, LAC Talles Moreira, and Verifi VP, Business Development Chris Marchand will explore the answers to these important questions, by diving into key findings and results from the recently launched 2022 Payments and Fraud Report.

Join us to hear these three fraud experts:

• Discuss what the report’s latest fraud and payment metrics and benchmarks mean—and how you can use them to evaluate and improve your own fraud programs and strategies.
• Provide new insights into the full business impact of fraud and how you can better protect your organization.
• Share the latest on which new payment methods are gaining the most traction in different parts of the world—and what social and economic factors are driving their adoption.

Don’t miss this chance to learn more about today’s global fraud landscape—and what it means for your business.

How well does your fraud performance stack up against the latest global performance metrics? And what new fraud trends and tactics should be on your priority list? 

In this webinar, Merchant Risk Council’s VP of Programs and Technology Tracy Kobeda Brown, Cybersource Head of Managed Risk Solutions, North America Paul Baer, and Verifi VP, Business Development Chris Marchand will explore the answers to these important questions, by diving into key findings and results from the recently launched 2022 Payments and Fraud Report.

Join us to hear these three fraud experts:

• Discuss what the report’s latest fraud and payment metrics and benchmarks mean—and how you can use them to evaluate and improve your own fraud programs and strategies.
• Provide new insights into the full business impact of fraud and how you can better protect your organization.
• Share the latest on which new payment methods are gaining the most traction in different parts of the world—and what social and economic factors are driving their adoption.

Don’t miss this chance to learn more about today’s global fraud landscape—and what it means for your business.

Join LiMeng Lee, Chief Strategy Officer at Razer and MRC APAC Advisory Board Member, and Gene Yu, CEO of Blackpanda (a cyber crisis management firm that offers top-tier cyber-attack containment and investigative services in the event of a data breach) as they demonstrate the importance of having a cybercrime crisis management or incident response plan in place before the incident or event occurs. 
 
LiMeng and Gene will highlight the necessary steps which should be undertaken to set up your incident response strategy, they will also highlight the immediate activities which should take place in the wake of an incident occurring. 

Learning Objectives:

The viewer, upon listening to the webinar, will have a basic understanding of the importance of implementing the prevention plans outlined, and were recruiting a third-party consulting company to assist in setting these plans up can help. 

How well does your fraud performance stack up against the latest global performance metrics? And what new fraud trends and tactics should be on your priority list? 

In this webinar, Merchant Risk Council’s VP of Programs and Technology Tracy Kobeda Brown, Cybersource - Principal of Managed Risk Services, APAC Zhuo Qijuan (CJ) and Verifi Head of International Merchant Sales and Business Development Gabe McGloin will explore the answers to these important questions, by diving into key findings and results from the recently launched 2022 Payments and Fraud Report.

Join us to hear these three fraud experts:

• Discuss what the report’s latest fraud and payment metrics and benchmarks mean—and how you can use them to evaluate and improve your own fraud programs and strategies.

• Provide new insights into the full business impact of fraud and how you can better protect your organization.

• Share the latest on which new payment methods are gaining the most traction in different parts of the world—and what social and economic factors are driving their adoption.

Don’t miss this chance to learn more about today’s global fraud landscape—and what it means for your business.

In this edition of the interview series My Path in Payments, Checkout.com spoke with Rakhi Seth-Forrest, VP of Global Fraud & Payment Operations at Warner Bros. Discovery. Rakhi spoke to us about how she and her team tackle payment fraud, her passion for creating a thriving team culture, and her drive to enable innovation in her industry.

In this edition of My Path in Payments, Checkout.com talks to Colleen Graneto about her work at Airbnb, her passion for building products that help money move, and her experience with payments as a small business owner. My Path in Payments is Checkout.com's interview series documenting the candid insights and diverse perspectives of modern payments leaders.