What are Fraud Fraud Solutions?

Before saying what Fraud Fraud Solutions is, let’s explain what fraud means. The word Fraud means forgery in Turkish.

Fraud is online shopping made by using fake, stolen credit cards or by copying your credit card information in e-commerce. Fraud, which is the most common situation for e-commerce businesses, is at risk of chargeback. they stay. The concept of fraud control is emerging in order for businesses to cope with fraud and to minimize these risks. Fraud control is the process that businesses take to prevent fraud by pre-evaluating an incoming online order with various methods. One of the actions taken to prevent fraud; It is the use of 3D Secure system. In the 3D Secure system; For orders over a certain amount, the bank approves the card and user information of the person who placed the order. If you have a suspicious order; By calling the phone, the online shopping that the ordering business has made with that company before is checked and the user records are examined by looking at the previous shopping, how often and how much shopping information is kept. At the end of the examinations, it is checked whether there is an abnormality in the shopping made. According to users, measures such as creating a white/black list or delivering the products to the address are used.

Simple Rules for Fraud Protection

You can reduce the Fraud Fraud rate with some simple methods.

• By checking the Security Code (CVV/CVC2).
• Information that had problems or were fraudulent transactions should be kept on file.
• When there is a fraud with credit cards, the issue should be reported to other virtual shops in the industry, the bank and the police.
• In the delivery of goods or services, a credit card must be submitted, credit card information must be recorded on the invoice, along with the serial number of the identity card, and the signature of the customer must be obtained.
• After your order arrives, it should be checked whether the address sending the order is fake or real. For this, you should write “www” at the beginning of the address line and check.
• In international orders, when the information to be obtained from the bank regarding the country and place of order is given, vital information such as the name of the country where the card is issued and the name of the bank where the card is issued should be learned before the order is sent.
• Checking whether the order is made over a valid IP number, regardless of goods or services, determining the domain (domain name) address and internet cafe and free users etc. For orders where the IP number cannot be determined, detailed information should be requested from the bank.
• Attention should be paid to people who use the e-mail of services that provide free e-mail.
• Information received on the site must be confirmed by telephone.
• A membership system should be introduced to the site and the accounts of the members who are found to be fraudulent should be canceled.
• It is necessary to find out which bank the credit card belongs to or to check from within the Virtual eft pos terminal software.
• Telephone number and name of the person who placed the order should be searched from Telecom.
• Tax number, father-mother name, place of birth-date information must be searched on the website of the General Directorate of Revenues.
• The credit card number must be re-entered for each purchase.
• The card with more than 2 incorrect entries regarding the card number and the expiry date of the card should be blocked.
• If the shopping is not completed immediately or the orders placed one after the other, it must be followed.
• Multiple members should be prevented from using the same credit card.
• Limitations should be imposed on the basis of daily number or volume. If necessary, a customer quota should be set.

Why Fraud Payment Systems Matter?

e-commerce; It is the form of commerce that has been done for years on the internet, electronically. Although the volume of e-commerce in Turkey is a matter of debate, it is obvious that it grows by 30-40% every year. According to BKM records, the amounts of card payments made over the internet, excluding MO/TO transactions, are as follows:

5.78 billion TL at the end of the first quarter of 2012

7.99 billion TL at the end of the first quarter of 2013 (38.2% YOY increase)

At the end of the first quarter of 2014, 10.04 billion TL (25.7% YOY increase)

As the e-commerce ecosystem grows continuously, it creates sub-ecosystems. Retail-specific e-logistics solutions, payment systems, cloud solutions in the Software as a Service (SaaS) model are the best examples of the ecosystem. Since a payment must be made over the internet in electronic commerce, payment systems are growing as a sub-ecosystem with e-commerce. Globally, payment systems have grown with e-commerce.

For example; Like Amazon’s Amazon Payments, ebay’s PayPal, Alibaba’s Alipay, Groupon’s Breadcrumb.

In Turkey, banks and telco companies are leading the payment systems.

For example; Interbank Card Center’s BKM Express, Isbank’s Parakod application, Garanti Bank iGaranti application, Denizbank fastPay application, Turkcell’s Turkcell Wallet application, Vodafone’s Pocket Wallet application, TTNET & Avea’s Mobilexpress application are examples of these. .

SMS-based payment systems, mobile wallet solutions, online/digital wallet solutions, etc. There are many companies operating in the sector.

Especially for young people born into technology; online shopping, card payment systems, smart card and digital content consumption, etc. They do not have any barriers and reservations for such matters. For young people, these technologies are no different from the faucet at home, for them everything is ordinary.

Companies that support an anti-fraud corporate culture:

The points described above are important, but companies should have an anti-fraud culture and support this idea. This environment is an environment where employees are encouraged to report fraud without fear of retaliation, employees fulfill their responsibilities, where employees should look to detect fraud, and the latest anti-fraud trainings on fraud.

If companies follow a few of these stages, that is, if they have a holistic approach to preventing, investigating and detecting fraud, they can significantly reduce their risks and protect their direct income. Such an Approach creates a positive culture that benefits employees, management, investors and regulators.