Recorded Future

Fraud Solution Profile

Fraudsters use a number of devious methods to skim payment cards online or instore, and then post the stolen cards for sale on underground forums and dark web card shops. This has created a multi-billion dollar industry impacting merchants, cardholders, and financial institutions. Detecting fraud after illicit transactions have already taken place is too late, as banks and merchants will have suffered financial and reputational losses. 

Take preemptive action to identify and eliminate compromised payment cards before they’re used with Recorded Future Payment Fraud Intelligence. Leveraging real-time intelligence, financial institutions can develop and implement effective mitigation strategies to counter the effect of payment compromises and subsequent fraud attacks. Shifting to a proactive approach to mitigating fraud can save hundreds, thousands, and millions of dollars in chargebacks and fraud investigations, while simultaneously increasing brand reputation and hurting the reputation of the criminals responsible for selling your card data.

Monitor Card Portfolio Exposure in Real Time: Real-time collection of partial data elements from cards posted on dark web shops allows for automated identification of at-risk accounts. Leverage real-time intelligence to take preemptive action and prevent fraud before it occurs, even if a compromised card has already been sold. 

Diagnose Compromised Common Points of Purchase (CPPs): Malicious actors often release compromised cards from a breached merchant in small batches to both mask their activity and not flood the market. Leverage stolen card details to identify compromised common points of purchase (CPPs) before unauthorized transactions occur. Additionally, the Magecart Overwatch solution monitors and scans hundreds of thousands of e-commerce sites to find infections and pinpoint the full exposure window even before compromised card data is offered up for sale. 

Track Card Checker Services as a Last Line of Defense: Identify when fraudsters use card checker services to determine if the cards are valid prior to attempting to monetize them. By adding known checker merchants to a risk model, financial institutions can monitor their portfolio and receive a final warning signal to raise the risk score of cards that are conducting low-dollar transactions or authorizing with known checker merchants. 

Protect Your Portfolio: Receive notifications about sudden supply increases of compromised payments cards, with precise geographical attribution and the exact number of exposed accounts. 

Compare Your Success: Evaluate your fraud prevention efforts with higher accuracy by comparing current and historical statistical data with your most significant peers in the space. Fraudsters are looking for easy targets, banks can make themselves a hard target by leveraging Recorded Future’s Payment Fraud Intelligence to preemptively block fraudulent charges and lower the value of stolen cards for sale.