CREDIT CARD PAYMENTS FRAUD DETECTION SERVICES

Our Payment Fraud & Trusted Data services are powered by multiple trusted partner networks. We help organizations fight card payment fraud. The e-commerce fraud protection platform service provides: revenue protection, abuse prevention, payment chargeback prevention, and payment compliance.

Card Payment Fraud Protection & Prevention Services

ECommerce Fraud Protection & Prevention Services

Risk Cognizance provides the right tools for digital payment fraud protection. We offer a comprehensive suite of solutions to protect your business, including but not limited to the following services: fraud prevention, digital identity, device intelligence, chargeback management, and payment gateway solutions to customers spanning diverse industries worldwide.

Our range of capabilities is designed to address the pain points that payment space organizations are struggling to remove. To do so, we offer security and risk management, and reduce or eliminate fraud detection in your eCommerce store or brick-and-mortar locations.

ESTABLISHING TRUSTWORTHY PAYMENT SERVICES

When it comes to providing eCommerce fraud prevention payment services, we utilize machine learning analytics, dark web threat intelligence, artificial intelligence, behavioral analytics, and a massive global network of information systems partners. Risk Cognizance is changing the way payment fraud prevention is delivered through adaptive artificial intelligence (AI) and multiple threat intelligence feeds. Our turn-key risk management services are easily customized with the most appropriate services to protect your business, gain greater customer insights, and seamlessly keep pace with emerging fraud threats.

Digital Payment & Payment Fraud Prevention Solutions

Easy integration – Get started quickly and easily without the headache of wasting time and money on integration costs. Take advantage of our easy-to-integrate comprehensive fraud protection solution suite.

Catch Fraudulent Transactions – Orders are quickly approved and chargebacks are kept at an industry low.

Identity Intelligence – Real time Risk Assessments powered by machine learning to enable proactive fraud prevention.

Fraud Intelligence – Fraud Intelligence helps stop fraud risk before it starts. Get unparalleled identity intelligence to help prevent fraud before it happens.

Real-time Payments – Our platform stamps out risk-based payment fraud decisions and targeted friction. Payment providers with fraud detection as part of their service can offer online sellers security and the reduced risk and fees. Empower Better Customer Service with Real-Time Information.

Financial risk Medication – Vulnerabilities in payment services can lead to breaches and chargebacks.

COMBATING FRAUDULENT PAYMENTS

Payment fraud trends evolve in the same manner that payment innovation evolves. Fraudsters look to identify and exploit areas of vulnerability in both established and emerging payment systems.

Companies and their card issuers work together to reduce exposure to fraudulent commercial payments. Solutions can include: 

  • Fraud protection features embedded in commercial payment products

  • Standalone fraud protection solutions

  • Clients are able to identify and address fraud threats with Reporting and Monitoring tools

Additional fraud protections that are in the works:

  • Dynamic CVV codes

  • Two-way text and email fraud alerts

  • Account validation services

What is Wire Fraud?

Wire fraud is a crime that occurs when someone voluntarily and intentionally uses an interstate communications device (such as a telephone) as a part of any scheme to defraud another party, property, or entity of value. Wire fraud is a federal crime with serious potential consequences.

Mail and Wire Fraud

In the United States, mail fraud and wire fraud are federal crimes that involve mailing or electronically transmitting something associated with fraud. Jurisdiction is claimed by the federal government if the illegal activity crosses state lines or international borders.

WIRE FRAUD PENALTIES

A person convicted of wire fraud faces significant potential penalties. A single act of wire fraud can result in fines and up to 20 years imprisonment. However, if the wire fraud scheme affects a financial institution or is connected to a presidentially declared disaster or emergency, the potential penalties are fines of up to $1,000,000 and up to 30 years imprisonment.

Of course, as soon as you close one loophole, clever fraudsters create another. “Because of the nature of this battle, it’s critical to constantly monitor fraud detection performance. The risk management and SAS solution provides a wealth of up-to-date information about the performance of our fraud defenses and allows us to adapt, as needed, to battle changing threats in different regions of the world.”