Fraud Prevention
Heres some of what our team does to prevent fraud on Wishes
We recognize that fraudulent transactions in a web app is crucial for protecting our users. To identify potential fraud we have implemented various strategies along with using partners and tools to streamline the user experience for everyone.
**Transaction Category Relevant Spend Data:**
Wishes gathers as much data as possible about spending metrics and spend activities to determine beneficiaries transactions are being spent on category specific expenses related to their mission fundraisers. This may include periodic reviews of user profiles, IP addresses, device specific information and transaction history to pinpoint irregularities
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- **We Know Payments & Expense Management :**
- We have an established baseline for normal and expected beneficiary behavior. With 30 years of payments industry experience on our team, we have analyzed billions of transactions and use this historical data to understand what typical transactions should look look like and make. This will help you identify anomalies that may indicate fraud.
- **Machine Learning Models & Infrastructure:**
- Wishes has Implemented machine learning models to detect fraud patterns. These models can analyze data in real-time and flag suspicious transactions based on rule sets we have designed which spots anomalies.
- **IP Geolocation and Device Fingerprinting:**
- Wishes utilizez IP geolocation to identify where transactions originate from or if its coming from or being spent in a high-risk location. Additionally, we use device fingerprinting techniques to recognize unique device characteristics that may indicate fraud.
- **Implemention of Multi-Factor Authentication (MFA):**
- In order to sign on to Wishes through desktop or mobile email and/or phone is required for both your security to verify our users and prevent attacks.
- **Real-Time Scoring and Alerts:**
- Wishes assigns scores to transactions and has implemented real-time alerting systems to notify our team of high-risk transactions for immediate review.
- **Community Feedback and Reporting:**
- We encourage our users to report suspicious activity which can be provided through our ticketing system at the top of the support pages.
- **We are committed to ongoing learning and improvement:*
- We regularly update and improve our fraud detection algorithms and rules based on new data and emerging fraud patterns.
- **Education and Training:**
- We train your staff and users on fraud prevention and implementing the best practices to reduce the likelihood of falling victim to fraud.
- We understand that ongoing training and education is essential to strike a balance between preventing fraud and providing great service without inconveniencing our legitimate users. So our committment to continuously monitor the performance of our fraud detection system
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