Fraud Prevention (BETA)

Overview

CrissCross provides an automated anti-fraud solution that detects and prevents fraud with custom rules. Our system screens transactions internally before submitting to payment service providers (PSPs) and consolidates fraudulent patterns and users across PSPs, providing comprehensive fraud protection.

Key Features of Automated Anti-Fraud

1. Transaction Monitoring and Scoring:

   • Screen transactions internally before submitting to a PSP
   • Consolidate fraudulent patterns and users across PSPs
   • Generate risk scores based on multiple data points including transaction amount, customer location, payment history, device fingerprint, and more

2. Set Segmented and Flexible Rules:

   • Pre-define rules or base them on AI recommendations
   • Segment rules based on multiple characteristics such as geography, transaction value, payment method, customer behavior, and more
   • Create custom rules that automatically block, flag, or require additional authentication for high-risk transactions

3. Use Internal and 3rd-Party Data + Train on Post-Processing and Dispute Data:

   • Utilize BIN data from card vault and other internal data sources
   • Integrate with third-party fraud services for enhanced risk assessment
   • After PSPs process transactions, outcomes feed back into the fraud engine to continuously train and improve detection accuracy
   • Learn from post-processing results and dispute data to refine fraud patterns

4. Advanced Blocking Capabilities:

   • Block users based on Payer Identifiers including:
     • ID number
     • Mobile number
     • PayerID
     • Email address
     • Device fingerprint
     • IP address
   • Create custom blocking rules that prevent fraudulent users from attempting transactions across your account

How It Works

1. Transaction Screening:

   • When a payment request is initiated, CrissCross screens the transaction internally before submitting to a PSP
   • The system collects contextual data including IP address, device information, payment history, BIN data, and payer identifiers

2. Risk Scoring and Pattern Recognition:

   • The data is processed through CrissCross’s fraud engine to generate a risk score
   • The system checks against known fraudulent patterns consolidated across all PSPs
   • Internal and third-party data sources are analyzed to assess risk

3. Rule Application:

   • Pre-defined or AI-recommended rules are applied based on the risk score and transaction characteristics
   • Rules can segment transactions by geography, value, payment method, customer behavior, and more
   • High-risk transactions may be blocked, flagged for review, or require additional authentication

4. Continuous Learning:

   • After PSPs process transactions, outcomes feed back into the fraud engine
   • Post-processing results and dispute data are used to train the system
   • Fraud patterns are continuously refined to improve detection accuracy

5. Advanced Blocking:

   • Users can be blocked based on Payer Identifiers (ID number, mobile number, PayerID, etc.)
   • Blocked users are prevented from attempting transactions across your account

Secure Data Handling

• PCI Compliance: CrissCross ensures that all sensitive data is handled securely and in compliance with PCI-DSS.
• Tokenization: Sensitive payment details are converted into secure tokens, reducing the merchant’s exposure to fraud risks.

Example Risk Score Response:

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{
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"transaction_id": "txn_12345",
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"risk_score": 87,
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"recommendation": "manual_review",
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"details": {
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"device_fingerprint": "abcdef123456",
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"ip_address": "192.168.0.1"
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}
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}

Best Practices for Fraud Prevention

• Regular Monitoring: Merchants should monitor transactions in real-time and take proactive actions on suspicious activity.
• Update Rules Frequently: Adjust fraud detection rules as patterns and trends evolve.
• Use Multi-factor Authentication: Encourage customers to enable MFA for high-value transactions.
• Leverage Data Insights: Use CrissCross reports to identify fraud patterns and optimize rules.