Prevent Transaction Fraud with Email Address Intelligence

Mitigate Risk & Fraud with Email Address Intelligence

The email address is the most important component of someone’s online identity. It is the thread that ties online profiles together and remains the cheapest way for organizations to engage with their customers. Over the last decade, the average consumer has kept their same, primary email address for at least 10 years, which we can only expect to increase.

This results in the email address being one of the stickiest forms of identity as people change addresses and are less likely to share phone numbers. Furthermore, it is the most reliable source of information specifically tied to identifying and flagging fraudulent behaviors.

Email address intelligence enables organizations to connect the dots between the email address and the person behind it, and a lot can be uncovered by analyzing activity and engagement signals tied to it. Email address intelligence provides an important layer of protection for your database to minimize potential threats which can negatively impact your business.

Pinpoint Suspicious Activity, Lockdown Transactions

The way consumers make buying decisions began shifting towards digital in the last decade but was pushed into hyperdrive in 2020. Now, nearly two-thirds of adults worldwide are using digital payments and digital revenue is expected to reach $14.9 trillion by 2027. With many online engagements and transactions happening every day, fraudsters are taking advantage of the opportunity to acquire goods and services through methods such as credit card fraud, online payment fraud, identity theft and account takeovers. This results in chargeback requests, which is expected to cost businesses globally $41 billion by 2027.

Transaction fraud occurs when bad actors attempt to exploit businesses during the payment process, and it’s a risk that many businesses face if online payment is part of the customer journey. The key for organizations is to flag and deny the transaction before it is processed to protect their bottom line, maintain trust with their customers, and avoid lost opportunities.

Being in control of your first-party data provides you with insight into the online profiles that are associated with your business, which typically requires an email address at the point of account creation. By analyzing the behavioral insights of the email address, such as first activity date, email velocity, and email popularity, you can verify the identity of the card user while also providing a frictionless experience for the customer.

Comprehensive Fraud Detection

Utilizing a robust email-centric database monitoring more than 4 billion monthly email activity signals on 2.5B email addresses, AtData provides a clear picture of who users are at the point of purchase.

AtData accurately pinpoints risky and fraudulent profiles using machine learning-based models. Utilizing a single email address, we analyze multiple risk variables to provide you with an easy-to-implement score.

• Domain and IP Analytics
• Behavioral Insights
• Email Validation
• Platform Tumbling Check
• Name, Address, and Email Correlation and Anomalies
• Fraud Consortium

AtData can quickly identify a potential fraudulent customer profile with the most accurate email data available in the industry. Your business can identify and flag malicious activity at a more rapid pace across billions of datapoints to prevent transactional fraud.

AtData is the leader in email address intelligence with our 20 years of experience and historical data. Armed with billions of email events processed daily, you can fuel your fraud decision logic to better assess risk.

Consequences of Ignoring Transaction Fraud Prevention

Neglecting transaction fraud prevention in online businesses can have severe consequences that reverberate throughout the organization and beyond:

• Financial Losses

  Failure to prevent transaction fraud can result in significant financial losses due to fraudulent transactions and chargebacks.

• Damage to Reputation

  Incidents of fraud can tarnish the business’s reputation, eroding customer trust and loyalty.

• Legal Ramifications

  Neglecting fraud prevention may lead to legal consequences, including fines, penalties, and lawsuits from affected customers or regulatory authorities.

• Increased Transaction Costs

  Due to fraudulent activities, businesses may incur higher transaction fees from payment processors.

• Regulatory Scrutiny

  Non-compliance with industry standards and regulations, such as PCI DSS, can attract regulatory scrutiny and potential sanctions.

• Operational Disruption

  Dealing with fraud incidents can disrupt normal business operations, diverting resources from core activities.

• Loss of Customer Confidence

  Customers may lose confidence in the security of the business, leading to decreased sales and revenue.

Strengthening Security: Email-Centric Monitoring For Fraud Prevention

Email-centric database monitoring is a pivotal tool in the fight against fraud in online transactions, offering a multifaceted approach to detection and prevention:

• Comprehensive Insight: By analyzing email interactions such as account creation, password resets, and transaction confirmations, businesses gain a comprehensive view of user activity and behavior.
• Detection of Suspicious Patterns: This approach identifies suspicious patterns and anomalies that may indicate fraudulent activity, enabling proactive intervention.
• Real-Time Monitoring: Email-centric monitoring provides real-time alerts for unauthorized account access or changes, allowing immediate action to prevent account takeover and identity theft.
• Transaction Verification: Cross-referencing email communications with transaction data helps verify the legitimacy of transactions, enhancing fraud detection accuracy.
• Proactive Measures: Leveraging insights from email-centric monitoring enables businesses to implement proactive measures to mitigate fraud risks and safeguard online transactions effectively.

The Impact of Fraud Prevention Measures on Customer Satisfaction

While implementing transaction fraud prevention measures is crucial for securing online business operations, assessing how these measures impact customer satisfaction is equally important. Here are some key factors to keep in mind:

• Ease of Use: Assess customer navigation of fraud prevention. Seamlessly integrate security features without disrupting shopping, such as using behavioral biometrics for authentication without customer intervention.
• Transaction Abandonment Rates: Monitor post-implementation abandonment rates. Spikes may signal cumbersome measures. Adjust protocols to balance security and convenience based on customer tolerance.
• Customer Feedback: Actively seek and analyze feedback on security. Insights inform adjustments to meet customer expectations.
• Transaction Completion Times: Consider additional transaction time due to security. Measure pre and post-implementation completion times to optimize security without delays.
• Repeat Customer Rates: Declines may signal dissatisfaction. Reevaluate for user-friendly alternatives without compromising security.
• Customer Support Interactions: Increased interactions highlight areas for improvement. Efficiently address concerns to enhance satisfaction and educate customers on security.

Frequently Asked Questions