Stop the Bleed: Catch Customer Fraud at Point of Entry

According to the Kroll Global Fraud Report (2009), in the current economic climate, people who are used to a certain level of comfort – and credit – may resort to fraud to continue in the style to which they have become accustomed.

With layoffs at record highs and creditors vying to recover debts, people can’t continue to live as they have on borrowed money, maintaining expensive cars, large mortgages, and private school fees, among other commitments.

So what’s a business to do? You’re probably not gaining new customers as quickly as before the recession, so you have to make concessions. Maybe you’ve lowered prices. Maybe you extend credit to people you might not have before. Maybe you give people more time to pay or waive penalties. These are all acceptable methods of keeping business going in tough times.

But what happens when desperate people resort to fraud and identity theft and involve your business?

CDYNE XML Web Services can help. Our Fraud Prevention Services catch customer fraud at point of entry.

  • You can validate a customer in milliseconds by postal address, email, phone number, or IP address.
  • If you deliver your product, you can set up automatic phone calls to verify the person ordering is the person whose credit card is being entered.
  • You can even run people’s information through the Social Security Administration’s Death Index to make sure a deceased person’s identity isn’t being stolen.

Check out www.cdyne.com to learn more about individual XML Web Services that can be programmed into your system to help you avoid fraud by verifying customers at lightning speeds.

 

The Kroll Global Fraud Report 2009 can be found at www.kroll.com.

Leave a reply