News Room > Kount Blog

Never Implement a New Fraud Prevention Rule Before Playing in the Sandbox

Posted on Thursday, August 28, 2014

“What if?” is a powerful question. Especially if you’ve identified what looks like a new type of CNP fraud attack and you want to implement a rule to stop it. Even if you use a fraud prevention solution like Kount Complete™ that makes implementing rule changes simple, it’s always a good idea to ask: “What if?” Fortunately, Kount Complete also makes it easy to ask and answer that question. With our real-time sandbox functionality, you can implement a new rule provisionally – without affecting on-going transactions – to see what the impact would be. There are 4 good reasons to do so. Read more...

What Are Your Fraud Rules Costing You?

Posted on Wednesday, August 27, 2014

With new data breaches being reported almost daily, you might think the biggest threats to your bottom line are all external. But if your fraud system isn’t optimized for your business, the same solution that’s protecting you from external threats is also costing your business thousands in lost sales, added resources, and time spent reviewing transactions on top of what your system costs.  Read more...

Kount CEO Takes ALS "Ice Bucket” Challenge 101 Times Over

Posted on Tuesday, August 26, 2014

Kount CEO Brad Wiskirchen recently accepted the ALS Challenge with 101 buckets of ice and a swim in the Boise River. Kount employees donated $5 per ice bucket, with Brad matching the total money raised for the ALS Challenge. Brad also challenged the following leaders to accept his challenge: Read more...

Boost Online Gaming Sales Without Getting Slain, Slaughtered, Destroyed, or Wiped Out by CNP Fraud

Posted on Thursday, August 21, 2014

Gaming is projected to grow at a brisk 7% compounded annual growth rate (CAGR) clip over the next few years, with mobile gaming growing even faster: 19% CAGR...from $49.2 billion total gaming market in 2012 to $57.5 billion in 2017. But online gaming is a rich target for fraudsters. “In 2009, we were hit with a round of fraud attacks,” says Dave Parrott, Fraud Manager at Jagex, a leading UK-based online game developer with a global reputation for creating hugely popular F2P games. “Then in 2011, the Gold Farmers attacked us with everything they had.” Halfway around the world, Paymentez, the leading payments platform for digital goods in Latin America, was also getting hit by CNP fraudsters. Both companies needed better way to fight fraud, but didn’t want to kill sales. After switching to Kount, the two have come out as winners. Dave Parrot of Jagex reports: “Our conversion rate on longer-term membership subscriptions increased 3% to 4% with Kount.” In fact, Jagex increased net annual credit card income by 4%, while holding their chargeback rate to 0.2%. Patricio Walsh, Risk & Compliance Director at Paymentez reports similar victory: “The $10,000 fines from Visa and MasterCard are gone. In fact, we cut our chargeback rate 70%.” More importantly, Paymentez is now able to confidently accept in-game payments without getting killed by CNP fraud. Read more...

Breaches and Phishing and Pharming, Oh My! Beating Account Takeover

Posted on Wednesday, August 20, 2014

According to Javelin Strategy & Research, account takeover losses in the US jumped 69% to $4.9 billion in 2012. And with more than 400 major data breaches in the first half of 2014 accounting for millions of compromised records, those numbers can only get worse. Why? Because victims of data breaches are 8 times more likely to experience fraud. What’s more, EMC RSA reported 470,000 phishing attacks worldwide, with 250-300 brands attacked each month (Feb 2012-Feb 2013). Add in Pharming attacks that steal login and password information via bogus websites, and you have a new breed of account takeover fraudster who is almost impossible to detect. Almost. Kount’s code-level integration of multiple patented technologies is so powerful, it can stop even fraudsters with supposedly “bullet-proof” credentials. Multi-layer Device Fingerprinting, Proxy Piercer™ geolocation, Velocity checks, cross-merchant order linking, Persona™ behavioral modeling, statistical scoring and more work together to identify seemingly valid transactions that are in actuality fraudulent. This helps merchants avoid lost merchandise, chargebacks and associated costs/fees. Read more...

Why Manual Review is a Four-Letter Word

Posted on Tuesday, August 19, 2014

You’ve heard the old adage that time is money. When it comes to manual reviews, the costs add up more quickly than a stopwatch can track: employee time, fraud system investment, shopping cart abandonment and potential loss of international sales due to risk concerns that trigger additional review. Since most flagged transactions are approved after manual review anyway, we can understand why many online business owners use some choice four-letter words to describe the manual review process.  Read more...