Download our online fraud prevention ebook for a complete primer on the topic, to share it as a new employee handbook – or for a refresher on the basics of risk management.
Why a Dummy Guide to Online Fraud Prevention?
Fraud prevention and risk management is more important than ever. It also varies greatly from one business to the next, and has to be adapted to your unique fraud challenges.
What’s more, everyone who ends up in this line of work tends to come from different backgrounds. This is why it’s challenging to find a complete overview of the discipline that covers every industry by breaking down the basics.
That’s exactly what this guide does. By providing a 360-degree view of online fraud and its challenges, we hope you can:
- learn exactly how to fight online fraud
- give risk managers a common knowledge base
- offer a convenient handbook to new employees – or business owners alike
All available for free in downloadable form, so you can consume its content at your own pace.
What’s in the Online Fraud Prevention for Dummies Ebook?
Our ebook is designed to offer a 101 course on everything relating to online fraud. There’s a lot of ground to cover, including:
- what online fraud looks like
- the most common types of fraud attacks
- the pillars of fraud prevention
- the tools, features and technologies that work against fraud
We’ve also included five golden rules of fraud prevention that should give you a better understanding of what to expect if you’re just getting started in this line of work.
Example of the kind of content you’ll find in the online fraud prevention for dummies ebook.
Extract #1 from Online Fraud Prevention For Dummies: Multi-Accounting
Technically, any time a fraudster creates more than one account, it falls under the term of multi accounting. They do it for transaction fraud and for identity fraud.
For online businesses, though, having more user accounts shows growth. This is why they often have a low barrier of entry to creating an online account. It’s also why so many companies rely on signup and referral bonuses to attract new customers.
Unfortunately, this creates a strong incentive for fraudsters. They create multiple accounts in order to:
- sign up multiple times to the same company and reap the signup rewards (bonus or promo abuse)
- control multiple players in online games (in iGaming, online casinos, or esports)
They will use a variety of software to create the illusion that they’re logging in from different locations and machines.
The more sophisticated fraud rings will have automated tools and bots (computer scripts) that are programmed to automatically perform the actions they want at scale. Combined with identity fraud and transaction fraud, it can be a powerful way to defraud businesses of a small amount each time – which nevertheless becomes significant when multiplied by hundreds or thousands of accounts doing the same.
Extract #2 from Online Fraud Prevention For Dummies: Device Fingerprinting
Every website connection is unique and requires a combination of hardware (mobile phone, tablet, or personal computer) and software (web browser such as Google Chrome, Safari, or Edge).
Fraud managers can gather that information and link it to user accounts. For instance, user A may be known to:
- usually connect via their Apple iPhone 12 with Safari
- occasionally use a PC with Firefox
The company website has logs of these connections and assigns this profile a specific ID. If any suspicious connections arise with the same ID, the fraud managers can trigger an extra authentication method — for instance by sending a verification SMS to the linked mobile number — to ensure the account isn’t compromised.
It’s a constantly evolving arms race between device fingerprinting and device spoofing technology. Whenever a new technology is introduced in the field, both fraudsters and fraud managers do their best to use it to their advantage.
Fraudsters have developed advanced tools to spoof their connections. They can use software such as emulators or anti-fingerprinting browsers, which confuse the tracking. Some recreate a completely different machine with every session, so fraudsters can use them to appear like they’re connecting to the same website with a unique setup each time.
Written by Anti-Fraud Experts – for Beginners and Pros Alike
As a fraud prevention software company, we deal with risk managers daily and understand their challenges: Fraud moves fast, and the topic is broad. This is why we wanted to compile all our knowledge of the discipline in one handy guide you can pull out whenever you need.
Download Your Free Dummy Guide to Online Fraud Prevention Today
You’re one click away from owning the complete Dummy Guide to Online Fraud Prevention. Whether you’re new to risk management or a seasoned expert, make sure you have a copy of this guide ready to go over the basics, or to introduce someone to the art and science of fighting fraud.
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