CyberSource announced that its Authorize.Net small-business solution is releasing Advanced Fraud Detection Suite, a robust, rules-based fraud detection system that allows online merchants to identify and handle suspicious transactions using multiple filters, tools and custom settings.
According to CyberSource's 10th Annual Online Fraud Report, U.S. merchants lost an estimated $4 billion to fraud in 2008. The Advanced Fraud Detection Suite was specifically built to provide small-business merchants with tools to better combat online fraud while saving legitimate orders from being rejected.
The original Fraud Detection Suite, launched in 2005, included seven powerful transaction filters and IP tools. AFDS adds five additional filters: Address Verification Service Filter; Card Code Verification Filter; Shipping Address Verification Filter; IP Shipping Address Mismatch Filter; and the Regional IP Address Filter.
Authorize.Net is also releasing a new Daily Velocity Filter to its entire merchant base at no additional charge. The Daily Velocity Filter allows merchants to specify a threshold for the number of transactions allowed per day, a useful tactic in identifying high-volume fraud attacks.
http://www.authorize.net/afds
