Tips Walmart Anti-fraud check of payments

[Jeremys]

Walmart Anti-fraud check of payments​

Detecting and combating fraudulent transactions is one of the key tasks of all international payment systems. The security of online payment transactions is monitored by many systems at different levels and stages of the payment process.

International payment systems Visa and MasterCard are the largest financial organizations that coordinate payment flows in the world. They develop and implement technologies, set and recommend card security standards, continuously supplementing them.

Antifraud systems (from the English "fraud") of various acquiring banks, thanks to the integrated control and exchange of data with other banks, expose hundreds of criminal, fraudulent groups operating in different countries of the world and committing crimes using payment cards. Monitoring and anti-fraud control is carried out in automatic and manual modes.

Walmart is interested in providing the highest quality services to service your travel, however, it cannot influence the decisions of payment systems. In accordance with the Anti-Fraud Policy, we comply with all necessary anti-fraud requirements. Like any other organization that accepts payments, especially in the e-commerce sector, our service tries to reduce risks and ensure control over the movement of accepted funds, the earliest possible detection of signs of fraud and prompt response to any suspicious cases.

Typical reasons when a transaction can be considered suspicious by anti-fraud filters:

• Online payment is not made in the country where the payer's bank card is issued.
• The card is on the “black list” of anti-fraud systems.
• The payment system has blocked the acceptance of cards issued in certain countries. As a rule, these are some countries in Asia, Africa, Latin America and others, where, according to international statistical reports, the maximum number of risks and crimes with bank cards is recorded.
• Other reasons why a bank card may not be accepted for payment.

How do various anti-fraud systems respond to suspicious cases:

• after entering the card data, the card is automatically blocked by anti-fraud filters if it does not meet the settings. The reason for the error usually appears on the screen;
• the payment system blocks the payment attempt without explaining the reasons for the suspicions;
• sends an email to the payer with a request to document the ownership of the card specified during payment;
• invites the payer to go through a simple online check to make sure that he really is the owner of the bank card.

The first filter is black and white lists. Whitelisting contains information on transactions that the system accepts without fail. In black - information about fraudsters, their accounts, as well as signs that allow you to identify fraudulent transactions.

How the antifraud system works in real conditions
We propose to consider the principle of anti-fraudulent activities using the example of specific solutions used all over the world. They are aimed at protecting the interests of not only users or financial companies, but also the state - reducing the likelihood of money laundering. It is difficult to bypass antifraud - it is not always within the power of even experienced hackers (provided a well-developed system).

The functional components of anti-fraud monitoring are:
Data storage. Systems store a huge amount of important data - this is complete information about each client and his operations, general information about the data structure in the institution, the history of notifications about previously noticed suspicious transactions, various rules.
Scripts. Each scenario is a model of a particular situation to which the system must react in a certain way. Initially, each anti-fraud already contains a database of ready-made scripts, but employees can add their own. They are based on individual events or their entire chains, as well as options for the client's behavior (for example, the mobile number linked to the card was changed, and immediately a large amount was withdrawn from the acc - suspicious).
Proceedings. If, for some reason, a transaction appeared to the system to be unreliable, this does not mean that it will be immediately blocked. Disputes are referred to employees for investigation (as a rule, the bank has a special department for this purpose). During the investigation, information about the client and his transactions is studied in detail, about the specific case under consideration. The system can also provide guesses about possibly related events (for example, several merchants of prohibited goods use the accounts of the same bank). The employee has the authority to mark the operation as false, the anti-fraud will remember this and will take it into account in the future.
Analytics using the built-in engine. This operation is hidden from the user, but for work it is extremely important. The engine processes data arrays, detecting on their basis even such fraudulent schemes, the scenarios of which have not been recorded anywhere at the moment. At the same time, natural language analysis and numerical methods are used. And yet, the final result should still be analyzed by the bank's employees - so far there is nowhere without the human factor.