ClearCommerce fights e-payment fraud
11 December 2001 | 3491 views | 0
ClearCommerce Corporation has launched a new risk management package to prevent e-commerce fraud when a card or card-holder is not present.
ClearCommerce Risk Management incorporates authentication, screening, case management, and analysis and tuning modules to enable merchants to process e-commerce transactions safely.
According to Daniele Micci-Barreca, director of risk management of ClearCommerce, card-not-present fraud is estimated to be ten times higher than for card-present transactions. "There is no single silver bullet solution; success in controlling both fraud losses and review costs can only be achieved by combining multiple risk management screening approaches," she says.
Key modules of the solution include ClearCommerce Payer Authentication, which is certified by Visa for worldwide use with Visa's new Verified by Visa program. Using Visa's 3D Secure Payer Authentication technology, it authenticates participating cardholders and eliminates the merchant's liability for fraud-related charge-backs.
Through FraudShield, the risk manager's control panel, risk managers can design a customised, automated transaction screening process that combines multiple screening technologies. These include sophisticated business rules, FraudAnalyzer neural network risk scoring, GeoLocator international IP address location, intelligent lockouts and processor-supported verification mechanisms.
Transactions which are identified as potentially fraudulent are rejected outright or placed in a review pending state for verification by risk management staff. A database of all relevant transaction screening, approval and outcome data is then generated to enable risk managers to analyse and tune their process.