Managing fraud can be time-consuming and is only getting more complex as fraud methods become more sophisticated. Before you decide to take your fraud management in-house, review the challenges you may face – and the options you may have.TALK TO OUR EXPERTS
For in-house fraud protection teams, the daily high-priority to-do list never gets any shorter. If you’re part of an ecommerce team growing at a fast pace, if you’re selling high value-added and easy-to-resell products, or if you’re in a company with headcount restrictions and lengthy hiring processes … you may find it difficult to sufficiently address the challenges of fraud prevention.
Fraudsters are constantly tweaking their attacks and becoming more sophisticated with the way they steal. Combatting fraud is clearly important – but managing fraud too stringently can also lead to poor ecommerce performance, including:
Amid all these challenges, in-house fraud teams also have to account for a litany of ongoing challenges as the normal run of business. It’s a big job, and if you’re committed to managing your ecommerce fraud in-house, you need to be prepared for many different factors and scenarios.
Before launching your in-house fraud team, think through how the team will handle these areas of identifying and preventing ecommerce fraud.
There’s a lot to think through. In our experience, companies that have the best success with managing ecommerce fraud in-house have not only extensive experience selling online, but also have stable budgets that are flexible enough to respond to unexpected fraud attacks. They also must have ready access to the people and technology resources that fraud prevention demands.
"We are in the Durable Medical Equipment supply industry and we use Shopify as our shopping cart. With Covid 19 we have seen a tremendous increase web traffic and online purchases. Prior to Covid 19 we had a number of fraudulent transactions that led to multiple investigations on Local, State and Federal levels all of which produced no returns only because the crooks were faster. This cost us in..."
"Quick fraud detection on all orders. Ease of use on the platform. Never had a chargeback."
"The product is great. We've never had a complaint from day 1. The setup was easy. And the continued service has been exceptional. With a product like this you want it to work behind the scenes without ever thinking about it. That's clearsale. It does exactly what it is supposed to do and never causes us troubles."
"Clearsale has a great fraud protection using their algorithmic matching of potentially fake orders, and will scan them as they come up and reject them if they are suspected as fraud."