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Transecute Risk Mitigation and Fraud Report

Transecute has taken several steps to minimise Fraud and Reduce CC Transaction risk. As such Credit Card Transactions are inherently risky and the risk of chargeback is directly passed on to you. Transcute has invented pioneering processes in order to reduce any Risk arising from fraudulent Transactions. One such process is the daily Transecute Risk Mitigation and Fraud Report.

Each Member gets a daily Transecute Risk Mitigation and Fraud Report, which contains alerts on various transactions that are perceived to be risky by our heuristic fraud detection software. It is advisable to manually check these transactions at your end in order to minimise chargeback risk.

The daily report consists of three different sections

HIGH RISK FRAUD ALERTS

This consists of a list of transactions that are perceived to be high-risk transactions by the Payment Gateway. This is done by scanning all transactions to find those where multiple different cards have been used by a single purchaser in multiple attempts across one or several orders, across all our member websites. Additionally there are other behaviour patterns which similarly trigger a high-risk fraud alert.

The High Risk Fraud Alert list consists of groups of transactions. Each group is highlighted in a common colour spread across separate rows. This entire group consists of a set of transactions performed by a single entity using more than one credit card. It is imperative that you check out EACH transaction that appears in your high risk fraud alert list to verify its genuineness. Refer below for ways you can use to check up on these transactions.

LOW RISK FRAUD ALERTS

This consists of a list of failed transactions which are perceived to be low-risk transactions. When a card holder tries a transaction and it fails - it would arise suspicion. Primarily because most fraudsters have a list of cards some of which work and some which don't. Most of the cards that do not work would be because they have run out of funds. Therefore any transaction that fails due to a "Insufficient Funds" error is suspicious. This list represents a list of all those transactions that have failed on your website due to similar suspicious reasons in the past 24 hours. Assuming that someone really used a fraudulent card to place an Order on your website and the transaction indeed failed, there is a high chance the same person may try to place the same order again on the same day. Therefore it is suggested you check your orders for any similar orders on the same day.

PROOF REQUIRED NOTIFICATIONS

Each Member of Transecute has a high-value transaction limit set from the beginning based on the business model of the Merchant, size and credibility of your company, goods and services that you sell. Any transaction whose value is above this high-value, requires additional documentation before the transaction is executed. This represents a list of all those transactions where Transecute is awaiting documentation from the Customer before the transaction is completed. For more details on the process followed for these high-value transactions, check High Value Transactions Process

Verifying genuineness of an Order

For all Orders that appear in your risk alert reports you may take any or all of the below suggestions to verify their genuineness. Which of the steps you follow is at your discretion.

* Contact the Customer: You can call the Customer on phone, or send an email and try and comunicate with the Customer. Typically any fraudster will not really bother to communicate beyond a certain extent with you .

* Check the details of the Order: Any fraudulent email address or different shipping address may immediately give you some hint .

* Ask for verification: Ask the Customer to fax you a photoid and/or an authority letter for the transaction.