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Fraudbusters: We Ain’t Afraid of No Fraud!

posted on: Tue Jul 19 2016

FraudbustersIf there’s something strange, in your neighbourhood, who you gonna call? Kount, that’s who!

Ok, so it might not have the same ring to it as the classic theme song from Ghostbusters, but as the popular franchise hit cinemas once more this week, we thought we’d take a look at how the world of paranormal investigation and extermination compares to the world of fraud-fighting.

After all, for merchants operating in the CNP environment, it’s less things that go bump in the night and more things that go bump on your site:

If there’s something strange, on your checkout page, who you gonna call? Fraudbusters!

In the movie, ghosts are (unsurprisingly) the big problem. If there’s odd happenings in your merchant network, however, you may want to give Kount a call. Are your customers suddenly purchasing big-ticket items when they previously spent little?

Kount Complete™ undergoes reviews, updates and feature enhancements every quarter, reviewing hundreds of data points to detect irregularities in customer behaviour such as this and warn merchants in less than 300 milliseconds.

I ain’t afraid of no fraud!

Well, with a PwC report declaring that a wave of cybercrime ‘capable of bringing down entire companies’ is set to hit the UK this year, perhaps you should be.

‘I don’t have a fraud problem’ is one of the most common statements we hear from merchants. With 55% of UK firms suffering economic crime in the past two years, however, we believe one of two things: That you do, and you don’t know it yet, or that you will.

Fortunately, with a 50% year-over-year growth and the addition of more merchants in the past 12 months than the previous three years combined, our network is bigger and stronger than ever.

More merchants using Kount’s technology means less merchants concerned about fraud and more merchants selling to more people, in more places, with more confidence than ever before.

If you’re all alone, pick up the phone, and call your partners!

Part of the latest movie’s charm is the coming together of unique and zany personalities, as shamed academics Erin and Abby join eccentric engineer Jillian and subway worker Patty to combine their individual talents and collectively overcome New York’s ghost problem.

Of course, we’d never refer to our colleagues in the fraud-fighting space as zany, but again, cybersecurity vendors can learn a lot from this approach.

Fraudsters are more collaborative and sophisticated than ever before. We can’t fight the war on fraud alone anymore, which is why Kount has announced partnerships with Ethoca, BlueSnap, MasterCard and Emailage in the last 10 months.

Don’t let fraudsters haunt your checkout page in 2016: Speak to Kount today to see how we can help you beat fraud and boost sales. 

Ebook: Calculating the 9 Deadly Costs of Fraud