Essentials of Online payment Security and Fraud Prevention

This book focuses on the prevention of fraud for the card-not-present transaction. The payment process, fraud schemes, and fraud techniques will all focus on these types of transactions ahead.

• Reveals the top 45 fraud prevention techniques
• Uniquely focuses on eCommerce fraud essentials
• Provides the basic concepts around CNP payments and the ways fraud is perpetrated

If you do business online, you know fraud is a part of doing business. Essentials of On-line Payment Security and Fraud Prevention equips you to prevent fraud in the CNP space.

Acknowledgments vii

Introduction ix

1 Understanding Online Payment Options 1

2 Key Concepts for E-Commerce Credit Card Payments 27

3 Fraud Basics for Companies Doing Business Online 56

4 Fraud Management Key Concepts 101

5 Fraud Prevention Techniques: Identity Proofing 127

6 Fraud Prevention Techniques: Guaranteed Payments 175

7 Fraud Prevention Techniques: Fraud Scoring 183

8 Fraud Prevention Techniques: Operational Management (Enterprise) 190

9 Fraud Prevention Techniques: Analytics 231

10 Fraud Prevention Techniques: Data Quality 238

11 Fraud Prevention Techniques: Technology 247

12 Fraud Prevention Techniques: Data Sharing 272

Appendix A: Protecting Yourself from Identity Theft 277

Appendix B: Sample Strategy 281

About the Author 283

Index 285

DAVID MONTAGUE is the President of The Fraud Practice LLC and has worked as an executive consultant in the information technology, e-commerce, electronic payment, and fraud prevention space for eleven years. He has held management and executive consulting positions with CyberSource Corporation, IBM Global Services, and Watson Wyatt Worldwide.

• Gain a working knowledge of ecommerce fraud prevention terminology, workflow, and strategy development
• Learn about the history of ecommerce fraud, typical fraud use cases, and the types of fraudsters that commit them
• Develop an understanding of the use and best practices for the 8 categories of fraud prevention tools along with the top 45 ecommerce fraud prevention techniques

The essential guide to e-commerce fraud prevention

Doing business online means your company must efficiently, reliably, and securely take payments from consumers and other merchants. The first book of its kind to focus exclusively on electronic commerce (e-commerce) fraud prevention, Essentials of Online Payment Security and Fraud Prevention provides you with the information you need—right now—to find, assess, and select the right fraud management options for your e-commerce channels.

Drawing from the author's experience in the information technology, e-commerce, electronic payment, and fraud prevention fields, this is the ultimate quick and dirty guide to the prevention of fraud for the card-not-present (CNP) transaction. This practical resource reveals:

• The top 45 e-commerce fraud prevention techniques
• Fraud basics for companies doing business online
• How big e-commerce fraud has really become
• Key concepts for e-commerce credit card payments
• Anatomy of fraud strategy
• Strategies to protect yourself from identity theft

Need a quick primer to e-commerce fraud prevention? Essentials of Online Payment Security and Fraud Prevention explains it all in a way that helps you hit the ground running in preventing fraud in your business's e-commerce efforts—before it eats away at your bottom line.

The Wiley Essentials Series—because the business world is always changing...and so should you.