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April 2, 2013

ID Analytics Launches eCommerce Fraud Detection Solutions

Fraud detection solutions launched by ID AnalyticsID Analytics has launched a series of solutions designed to help online retailers in their fight against fraud, a problem that costs companies around $3.4 billion (2.6 billion EUR) a year.

The eCommerce suit offered by ID Analytics can be used not only to stop fraudulent transactions before any money or time is wasted, but it can also reduce the number of false positive results reported by automated fraud detection systems.

The solutions include Transaction Protector, a score card that can identify over 80% of fraud charge-back losses in the riskiest two percent of transactions; Transaction Advanced Intelligence, which provides real-time risk insight based on a series of attributes; and Transaction Takeover, which detects when an account is overtaken by a fraudster.

“Fraudsters are becoming increasingly sophisticated, and eCommerce retailers still encounter too many false positives when screening for potential fraud,” explained Aaron Kline, director of eCommerce at ID Analytics.  

“ID Analytics partners with merchants to help them fight fraud while ensuring that no additional friction is introduced into the online customer experience.”