Hello December! If you're reading this, you might be very short on time and very stressed out. Black Friday & Cyber Monday just passed, holidays orders are up (yay!) but so is your manual review queue. To welcome in the December month, here's a quick read to help you wrangle your manual review queue as … Continue reading Holidays are here and my manual review queue exploded! Help!
In my last article Reducing Friendly and Malicious Fraud, I listed a handful of companies that focus on various aspects of fraud prevention and chargeback resolution. While there are tons of options out there, you need to first answer whether it makes sense to outsource. Then, you need consider to what extent you should outsource. This … Continue reading When to outsource fraud prevention
Once you've isolated what is driving your chargebacks, you can start figuring out how to reduce them. In this article, you'll learn the high-level approaches to reducing malicious fraud and tricks to reduce friendly fraud. While friendly fraud isn't directly targetable, this article will outline what you can do to reduce the likelihood. However, the … Continue reading Reducing friendly and malicious fraud
Product issues, such as bugs, reinforce that the risk department is truly intertwined with all other aspects of a business. Risk mitigation is often a marginalized department. However, to build a strong strategy, your risk team needs to be connected and communicating openly with all other teams. The risk team needs to know when new releases … Continue reading Fix product issues and inspire change
Now that you have categorized your chargeback codes into high-level chargeback reasons, the next important thing to do is understand the key driving factors behind each chargeback. Once you know the causes, you can start reducing your chargebacks. Chargeback causation can be broken out into three major categories: Service and/or Product Issue Friendly Fraud Malicious … Continue reading Is it a service/product issue, friendly fraud, or malicious fraud?
Understanding the chargebacks specific to your business is the first step in creating a fraud strategy that reduces bottom line loss. Once you understand your chargebacks, you can build a plan to attack them with thoughtful chargeback responses while also creating a strategy that works to prevent them in the first place. Within this article, … Continue reading Understanding your chargebacks
A good Risk Management process can defend thousands of merchants and isolate fraud across millions of users. How do you get there? What questions should you ask? What data do you need? What processes can be built and how do you decide the correct path or tools to use? These are huge questions that are … Continue reading Foundational steps for building a customized fraud strategy