There are some giveaways to an e-commerce transaction that can help you recognize it as possibly fraudulent. Listed below are some indicators that should alert you that a potentially fraudulent transaction is on its way. If just a couple of these signs are present, it might not be anything to worry about, but if several are present in a single order, it’s time to roll up the sleeves and start digging:
- Bigger than your average order. Stolen payment cards have a very short life span. The goal here for the online criminals is to maximize the spending in a single transaction.
- Fast shipping. Ain’t nobody got time to wait for standard shipping when they can get it overnight! Your trustworthy customers are more likely to select a less expensive shipping option, but since money isn’t the issue in fraudulent transactions, express shipping could be a sign of fraud.
- Large quantity of the same product. Just as with bigger than your average order, buying multiple items of the same kind is a way of maxing out stolen cards as quickly as possible.
- Multiple shipping addresses. These orders might indicate that there is a batch of stolen cards. Each with a different name, yet the common denominator is the identical shipping address.
- Payment info in CAPS LOCK. Perhaps fraudsters can’t be bothered to turn off the caps lock, but oddly, with no scientific explanation here, it is one of the signs to look out for, as well as all in lower caps.
- Multiple transactions in a short time. This one is a sign of a criminal attempting to run up a stolen card’s credit line as quickly as possible before the account is closed.
We use a fraud detection system and notify you by email & Tictail Talk about orders that look suspicious. Don’t ignore them – double check!