“I would say Riskified changed our lives.”
Eileen Shulock, VP eCommerce at Kirna Zabête
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All posts with the tag Manual Review

Any good captain will tell you it’s impossible to acquire customers in a turbulent industry like travel without a good flight plan. For airlines and online travel agencies (OTAs), that’s where loyalty and frequent flyer programs, alliances and partnerships, fare sales and social outreach all come into play.

But Facebook posts, low fares, and pretzel-filled lounges can only do so much to make thin margins work against sky-high acquisition costs. To be a truly efficient travel business, the hard work isn’t just about identifying, attracting and converting the right shoppers into paying customers. It’s also about having a reliable, scalable way to quickly tell the difference between a valid shopper and a bad actor. After all, what good is a forecast of clear skies if the right people can’t come along for the ride?

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Managing eCommerce fraud operations is no easy task; whether hiring, training, and managing a manual review team, monitoring approval rates, and optimizing internal rules, a fraud manager’s attention is often drawn to many places at once. With so much on their plate at any given time, it’s easy to understand why merchants are drawn to “silver bullet” solutions to manage and prevent chargebacks.

One “solution” to chargebacks often utilized by merchants is fraud prevention blacklists. When hit with a chargeback, all the transaction details are simply added to a blacklist, so that the next time an order is placed from the same email or IP address, the transaction is automatically declined. While they may seem like a great way to streamline internal operations and to prevent future fraud, blacklists are in fact a misguided way to address chargebacks.

Blacklists block not only fraudsters but also many good customers. Moreover, there are basic methods fraudsters can use to “fool” your blacklists. In this post, I will explain why you should stop relying on blacklists for fraud prevention.

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Global online retail sales are projected to exceed $2 trillion in 2017, and double to $4 trillion by 2020. Despite this rapid growth, selling online is not without its challenges, and eCommerce merchants are increasingly seeing their hard-earned revenue fall victim to CNP fraud and the associated chargebacks. A 2016 study confirmed this, with online merchants reporting that chargebacks accounted for much of their fraud-related revenue loss.

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Balancing the needs to provide a great experience for shoppers, prevent fraud, and maximize sales revenue is one of the biggest challenges online merchants face when managing card-not-present (CNP) fraud. In this post, we explain how Riskified’s Magento fraud protection extension allows merchants to meet all of these needs – accurately detecting and preventing fraud while maintaining a streamlined shopping experience, and ensuring legitimate customers aren’t wrongly turned away due to suspected fraud.

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The importance of avoiding shipping delays to keep customers happy is something eCommerce merchants understand well. One factor that drives delays is that orders can get ״stuck״ in the manual fraud review queue, awaiting approval.  To avoid a backlog in the queue, merchants usually either hire additional analysts to join the manual review team or invest in improving the automated decisioning process so that less orders are routed to manual review.

In the 2014 Merchant Risk Council Fraud Survey, online merchants reported an average manual review time of 15 minutes per order, not at all bad. Unfortunately, we still see cases of merchants who don’t suffer from lack of resources but leave orders “sitting” in the queue for hours and even days. Orders are delayed not because the merchant cannot handle the load, but because of order review policies. The risk management team is instructed to reach out to customers for additional information in case of certain problematic characteristics, such as missing AVS information or a mismatch between the BIN country and shipping country. The orders are put “on hold” while the risk management team waits to hear back from the customer who placed the order.

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