Chargebacks911® COO Says Bad Data Leads to Less-Effective Fraud Management
Chargebacks911® Co-Founder and COO Monica Eaton-Cardone recently offered her industry expertise for a new feature about AVS (Address Verification Services) for About-Fraud.com.
About-Fraud.com is a global community dedicated to delivering unbiased, expert knowledge on fraud prevention technology and trends for the eCommerce space. The site is a resource for online merchants looking to find the best solution to help mitigate fraud and protect their revenue.
Writer Mike Russell asked Monica to offer some insight on AVS; specifically, the service’s potential shortcomings and how to correct for them by embracing additional tools to recover revenue. Looking at chargebacks, for example, merchants tend to assume that they are the product of criminal fraud. In reality, criminal fraud represents fewer than 10% of all chargebacks. This misunderstanding generates inaccurate and misleading fraud data. The result: poor targeting in the deployment of tools like AVS.
“[Merchants] deploy anti-fraud tools like AVS ineffectively,” Monica explains. This creates a cyclic effect, producing “more fraud and more inaccurate data, without addressing the real problem of friendly fraud.”