FRISKTM – Fraud Tool Suite
The proprietary FRISKTM risk management system from PrismPay provides a sophisticated suite of fraud detection and prevention options. Each transaction submitted can be filtered through a comprehensive series of fraud detection rules to determine potential risk.
- Negative Account Blocking – Reject transaction from known fraudulent account numbers.
- Cramming Protection – Prevent the use of credit card or ACH number generating schemes by limiting the number of transactions allowed from a given IP address.
- Domain Blocking – Filter transactions by the Internet domain associated with the customer’s email address.
- Country Blocking – Filter transactions by the Internet domain associated with the customer’s country code.
- Prevent Duplicate Transactions – Track recent transactions to ensure the same transaction is not authorized more than once. This eliminates problems due to “double clicking” the transaction submit button as well as submission of duplicate batch transactions.
- IP Activity Limit – Limit the number of accepted transactions from a given IP address.
- Large Transaction Notification – This feature examines the transaction amount after the transaction has been accepted. When the amount exceeds an amount specified by merchants an e-mail is sent notifying the merchant that the amount has exceeded the threshold. The merchant can then review the transaction, refuse the sale before any products are shipped, and credit back the consumer at a later time.
- OFAC Check – All U.S. based businesses must comply with the Department of Treasury’s Office of Foreign Asset Controls’ (OFAC) requirements against doing business with targeted foreign countries, terrorists, international narcotics traffickers and those engaged in activities related to the proliferation of weapons of mass destruction.
- Proxy Blocking – Tracks and block proxy servers.
- ID Account Verify – This feature allows the merchant to makes two small debits and one credit to the consumer’s account resulting in a net balance of $0.00.
- Address Verification (AVS) – AVS matches the known address information associated with the given credit card number against the billing address information provided by the user. The merchant has the option of choosing the level of match required for an approved transaction.
- CVV2 – CVV2, or Card Verification Value 2, is a number that is printed, not imprinted, on Visa and MasterCard.
- Reject Free Email Address – Checks the e-mail address of the consumer against a database of free e-mail providers.
- Basic Risk Tools
- IP Blocking
- Brute Force Attack Protection
- Address Verification
- CVV2 Required
Internet and computer geolocation can be performed by associating a geographic location with the Internet Protocol (IP) address, MAC address, RFID, hardware embedded article/production number, embedded software number (such as UUID, Exif/IPTC/XMP or modern steganography), invoice, Wi-Fi connection location, or device GPS coordinates, or other, perhaps self-disclosed information. Geolocation usually works by automatically looking up an IP address on a WHOIS service and retrieving the registrant’s physical address.
IP address geo location data can include information such as country, region, city, postal/zip code, latitude, longitude and timezone Deeper data sets can determine other parameters such as domain name, connection speed, ISP, language, proxies, company name, US DMA/MSA, NAICS codes, and home/business.
Velocity Controls provide a tool to manage and mitigate risk associated with processing credit cards by establishing limits on transactions. When enabled, the Velocity engine will monitor transactions in real-time against the threshold limits defined. These controls will assist in preventing abuse and minimize potential for fraud. Utilization of the velocity controls can automatically decline transactions based on location, BIN, transaction amount, repeat card use and excessive refunds. Caution should be used in using these tools as the thresholds can limit and decline otherwise acceptable transactions.