the essential guide
to fraud & march madness
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F rters Final Four
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This same principle can be applied to fraud prevention. Automation is critical to stopping criminals at checkout, because manual processes aren't fast enough and are prone to human error. At the critical moment in the buyer journey, you must be able to consistently approve or reject the right people. Powered by thousands of data points we've gathered after years of analyzing customer behavior, our solution is 100% automatic. Machine learning runs the show, so you can hit nothing but net (revenue) without getting too hands-on.
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Wildcats
Villanova
"On the road against an Xavier team projected to snag a 1-seed, Villanova connected on 11 of 19 three-pointers, most of them contested," reported ESPN.
When it's your night, it's your night. You're on autopilot, making the right decisions thanks to years of training.
FORRESTER executive summary: total economic impact
Scalability matters when blocking fraud. Manual reviews can't scale as your business grows. That's how you end up with a huge order backlog, slow checkout, and angry customers. And rules-based systems always end up blocking real buyers, because static rules can never account for all possibilities. As Forrester found, Forter helps brands expand into new markets and increase customer loyalty. Through automation and machine learning, we can grow ROI 229%.
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jayhawks
kansas
The Jayhawks are led by a one-man wrecking crew: Udoka Azubuike, their 7-foot center who ranks 1st nationally in both field-goal percentage and true shooting percentage.
Their 47th-ranked defense isn't great. But with a Top 10 offense, their game plan can scale to beat anyone — including blue bloods Kentucky and Syracuse earlier this year.
pencils up
Ready to test your knowledge? (This is college-based content, after all.) Click the Maryland terrapin to take our one-question fraud quiz!
march madness minutiae
Steph Curry, star point guard of the NBA champion Golden State Warriors, first rose to prominence in March Madness '08, when he led 10th-seeded Davidson to the Elite Eight. Last year, a 6-year-old fan named Isaiah Simpson and his family were denied entry to Oracle Arena when it was learned they'd accidentally bought fraudulent tickets online. Curry made it up to Isaiah with free tickets to the next game — and hopefully advice about only purchasing from trusted third-party vendors.
swish!
That's correct. Account takeover is a popular fraudster attack method. It occurs when the criminal hacks into a real account on a brand's website and passes themselves off as a returning customer. It is unfortunately on the rise in recent years due to the recurrence of large-scale data breaches.
try again
Referral abuse is a recurring fraud problem but it does not apply to this example. Referral abuse falls under the category of policy abuse, which describes all fraud in which people try to reap the rewards of loyalty programs, referrals, and coupons through intentionally noncompliant means. It is rapidly becoming the method of choice for non-professional or "friendly" fraudsters.
Botnets and virtual machines are among the most popular tools in the fraudster arsenal, but they were (probably) not described in this example. Remember: Fraudsters use botnets and virtual machines to submit purchase orders using a script or piece of code — often remotely.
Payment instrument ATO is a recurring problem for online brands — but it does not apply to this example. Payment Instrument ATO occurs when a fraudster hacks into an account on an online payment service (e.g., PayPal, Apply Pay, Android Pay, etc.) and misuses funds. Along with standard ATO, this attack has recently become more common due to large-scale data breaches.
MARCH MADNESS MINUTIAE
Fraud and basketball intersect in interesting ways. Click on Steph Curry to learn something new.
TEST YOUR KNOWLEDGE
Let's say a fraudster non-remotely hacks into an account belonging to one of your company's real, paying customers — which causes your review team to mistakenly believe they are a valid buyer. If the fraudster uses this access to successfully purchase an item through your brand's website, what kind of fraud attack have they used?
[A] ACCOUNT TAKEOVER (ATO)
[B] REFERRAL ABUSE
[C] BOTNET DEPLOYMENT
[D] PAYMENT INSTRUMENT ATO
the OFFICIAL forter & MRC fraud attack index
Fraudsters are like that — preying on brands as they work toward revenue goals. No matter how well your business adjusts, sophisticated fraudsters adjust back. You can block a certain technique one year, but next year criminals will find new attacks. That's why we publish our annual Fraud Attack Index. As we discovered in our most recent report, policy abuse fraud has become 300% more prevalent. In other words, e-commerce fraud is like a perennial powerhouse: always there. Be prepared.
DOWNLOAD OUR FRAUD ATTACK INDEX
BLUE DEVILS
DUKE
Led by the legendary Coach K, Duke is the monster in every horror movie. They're powerful. People like rooting against them. They have an almost mystical ability to take your team's best shot and keep on coming.
And each year, Duke is still there — lurking ominously in your bracket.
free forter case study: delivery.com
Defense is also a game changer when it comes to stopping fraud on your site. Fraudsters are relentless, so it's easy to fall into a technology deficit. But not with us. Forter's End-to-End™ protection gives you more approvals while still reducing chargebacks: a balance that got us named one of Fast Company's Top 10 "Most Innovative" brands. See how our real-time solution helped one company with over 1 million online users increase approvals to 99.5% and cut chargebacks in half.
READ THE CASE STUDY
SPARTANS
MICHIGAN STATE
Michigan State's most impressive win of the season was a 27-point comeback on the road against Northwestern.
With smothering, all-world defense, the Spartans kept the Wildcats scoreless for 12 straight minutes — completing one of the largest comebacks in NCAA history.
where are the holes in your fraud defense?
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Don't let fraudsters bust your bracket. Book a quick 10-minute meeting with a Forter fraud expert to see how you can increase approvals, revenue, and checkout speed. We were just selected to the Forbes Fintech 50 and to Fast Company's list of Top 10 Most Innovative organizations.
