10 eCommerce Fraud Prevention Tools to Stop Fraudsters

Last year online retail fraud attempts grew up by 30%, and it’s terrifying to imagine how much they will increase this year. While nothing can stop fraudsters, you can still fight them back. There are special services that prevent ecommerce fraud and secure online merchants against revenue losses. Scroll down to find 10 of the most reliable eCommerce fraud prevention tools.

These anti-fraud tools are based on a similar principle of work. You send order details, automatically in most cases, to the service. It screens them for risk factors and returns an alert in the form of a risk score or “approve / decline” response. To detect the possible financial fraud, multiple warning signs are analyzed, e.g. different shipping and billing addresses, repetitive orders of the same item, big-ticket orders overseas. Below, you can learn what features these top eCommerce services are based on. Take them into account when choosing an anti-fraud solution for your store.

• Machine Learning. Real-time insights are fed into machine learning models that detect the fraudulent behavior instantly. Compared to manual reviews, machine learning provides more speed and embraces a wider range of online fraud signals.
• Automated Workflow. To speed up your workflow, you can automate payment fraud checks, sending of order details, blocking of suspicious devices, fulfillment and cancellation of fraudulent orders, etc.
• Insights Dashboard. As a rule, reports on suspicious activities are presented in a single interface, which means you don’t have to switch between multiple screens. It largely facilitates the entire fraud screening process.
• Chargeback Guarantee. In case of fraud, some of these services fully cover all the orders they approved. It makes them a risk-free investment.
• Device Fingerprinting. Stop the fraud at its root based on device fingerprints. From the browser and operating system to language and location, these tools analyze multiple properties. With their help, you can find out whether the device used is related to fraud and will be able to block them.
• Customization. Anti-fraud services allow you to customize your fraud checks and data points to meet your personal needs.
• Supported Platforms. As it turned out, these eCommerce fraud prevention tools support platforms that empower our templates for online stores. Find out which of them are supported in this section.

These are the main features that services of this kind offer. Now, dig deeper into each of them with my checklists and descriptions.

Simility

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – no
• Customization – yes
• Device Fingerprinting – yes
• Supported Platforms – any (via API, but no apps are available)
• Pricing – depends on your transaction volume
• Free Plan – no
• Free Trial – yes

Simility can assess the card fraud risk of both mobile and desktop devices based on their fingerprints. They include the browser, language, location, OS, username, battery level, etc. Even if a device is not on a blacklist or new to the network, machine learning models determine its fraud probability with ease. Whenever device characteristics change, e.g. its browser or OS is updated, the system can find out whether two fingerprints actually belong to the same device.

Subuno

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – yes
• Device Fingerprinting – no
• Customization – yes
• Supported Platforms – Magento, PrestaShop, Shopify, WooCommerce, ZenCart
• Pricing – starting at $19 per month
• Free Plan – no
• Free Trial – yes (30 days)

The fraud protection tool comes with 20+ fraud detection tools meant to automate your checks and provide a detailed insight into your order reviews. With their help, you can see the customer’s location, find out whether his contact details match up, estimate how long his email address has been used, etc. Each order is shown on an individual page with color warnings and tools for further verification. Comprehensive algorithms of the system analyze 100+ risk factors to sift out fraudulent orders from genuine ones.

Riskified

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – yes
• Device Fingerprinting – yes
• Customization – yes
• Supported Platforms – Magento, Shopify
• Pricing – depends on your transaction volume
• Free Plan – no
• Free Trial – no

Riskified is also among cool anti-fraud services that provide real-time insights by means of cutting-edge machine learning algorithms. It gives an opportunity to avoid any backlogs or delays. The service utilizes a wide range of analytical methods, particularly IP & geo-location, proxy detection, social media, order linking, device & browser fingerprinting, chargeback fraud, etc. Instead of risk flags and scores, Riskified gives a clear “decline / approve” answer on every transaction. You can decide yourself which transactions to review, and fees are charged only for orders that are approved and generate sales.

Signifyd

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – yes
• Device Fingerprinting – yes
• Customization – yes
• Supported Platforms – Shopify, Magento
• Pricing – starting at 1% of your orders
• Free Plan – yes
• Free Trial – yes (14 days)

Signifyd fraud management tool features a case console that gives an access to all the orders and reports. Each decision comes with a score indicating the order quality on a numeric scale. The service allows you to automate your back office when it comes to fulfilling and cancelling orders. You can either manage your fraudulent activities yourself or let the team of Signifyd do it for you. In terms of fraud chargeback insurance, payouts are made within 48 hours. You can get started in literally minutes by integrating with the service through your eCommerce platform or its API. When setting up Signifyd, there is no need to bring any changes to your platform.

Sift Science

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – no
• Device Fingerprinting – yes
• Customization – yes
• Supported Platforms – Shopify, WooCommerce
• Pricing – starting at 0,06 per order
• Free Plan – yes
• Free Trial – yes (30 days)

Sift Science detects the fraud risk by analyzing 5,000+ data points, e.g. account age, device ID, order velocity, payment details, social media profiles, eCommerce merchants, etc. To get started, simply send a record of activities happening on your site via the API or JavaScript snippet. When fraud patterns are noticed, you’ll get alerts via email or as HTTP notifications. The network visualization allows you to dig deeper into each case and investigate it from every possible angle. In the Sift Science console, you can fine-tune your automated workflows the way you like and filter the data based on your criteria.

Forter

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – yes
• Device Fingerprinting – yes
• Customization – yes
• Supported Platforms – Magento
• Pricing – available on request
• Free Plan – no
• Free Trial – no

Forter ensures 360-degree fraud protection by accepting every country, eCommerce store and payment method. Its fully automated system works in real time and provides an instant “yes/no” response to each transaction. To personalize the experience, you can tailor its machine learning model to your specific risk profiles. The dashboard gives insights into the geo-location, behavioral data and payment details. Forter belongs to fraud protection methods optimized for mobile transactions. It also offers a number of fraud controls, particularly phone order protection and alternative payments (Google Wallet, PayPal, etc).

FraudLabs Pro

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – no
• Device Fingerprinting – yes
• Customization – yes
• Supported Platforms – Magento, OpenCart, osCommerce, PrestaShop, Shopify, VirtueMart, WooCommerce, ZenCart
• Pricing – starting at $29.95 per month
• Free Plan – yes
• Free Trial – no

FraudLabs Pro offers 40+ validation rules for effective fraud screening and multiple blacklist records contributed by international merchants. While there’s no free trial, you can start with a completely free plan. It accepts 500 queries per month and supports different types of order validation. They include IP geo-location, proxy, credit card BIN, transaction velocity, etc. Within the free plan, you can also access such features as risk scoring, email notifications, merchant reporting tool, and 10 SMS validation credits. Users of paid plans can also benefit from advanced features, e.g. email validity check, social profile query, and more validations (custom country, ISP usage, email domain age, high-risk username & password).

Trustev

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – no
• Device Fingerprinting – yes
• Customization – yes
• Supported Platforms – any
• Pricing – available on request
• Free Plan – no
• Free Trial – no

Another cool solution from this set of eCommerce fraud prevention tools is Trustev. It carries out a full-spectrum analysis during transactions. The data points analyzed are grouped into 8 categories, namely historical, behavioral, mobile, social, email, geographic, financial, and digital. For example, the financial category reveals the cart data, history, credit / ID check, and IP / BIN data, while the social one informs of Facebook login / checkout, friend list, etc. When it comes to integration, you can plug Trustev into your current fraud management system, use it in parallel or replace that system. The process itself is easy-breezy – embed a code tag into your site and connect the API.

DupZapper

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – no
• Device Fingerprinting – yes
• Customization – yes
• Supported Platforms – any
• Pricing – starting at $0,0015 per transaction
• Free Plan – no
• Free Trial – yes (30 days)

DupZapper is quick and easy to install, taking only 15 minutes to set up its HTML tracking code on your site. No API integration is necessary to clean fraud. The service makes use of device identification and fingerprinting technologies. Its smart machine learning algorithms trace the geographic consistency of registration data, detect cookie blocking attempts, and suggest use of a proxy and account takeover. You can also see accounts that may have been created by the same user. All the suspicious activities are shown in concise reports before risky transactions commence. DupZapper provides a high level of security, as it forces you to send no sensitive customer data.

Kount

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – no
• Device Fingerprinting – yes
• Customization – yes
• Supported Platforms – Magento
• Pricing – based on transaction volume
• Free Plan – no
• Free Trial – yes

Kount has shown excellent fraud protection results in multiple industries, e.g. insurance, electronics, health, and luxury, to name a few. Its risk decision rules engine utilizes 200+ data variables that can be adapted to your own needs. To accelerate the process of transaction approval, it provides a 300 millisecond response time. Kount conducts fraudulent checks using such advanced technologies as artificial intelligence, device ID, geo-location, order linking, mobile signals, etc. For ease of use, all the information is shown on a single screen, which means you won’t have to toggle between different interfaces.

Bolt

• Machine Learning – yes
• Automated Workflow – yes
• Insights Dashboard – yes
• Chargeback Guarantee – yes (100% coverage)
• Device Fingerprinting – yes
• Customization – yes
• Platforms – Magento 1 and 2, BigCommerce, Shopify, WooCommerce, custom
• Pricing – customized based on size and risk
• Free Plan – no
• Free Trial – no

Bolt takes a different approach to fraud detection, by integrating checkout UI, payment processing, and fraud detection itself. Visibility into the entire payments stack allows Bolt to collect behavioral data at checkout and leverage 200+ variables on each order for fraud detection. Their aim is to stop rejecting good customers and increase your order approval rate, while covering 100% of the decisions they get wrong. Bolt's unfair data advantage allows it to deliver 10-100% revenue lift for online retailers across industries, while eliminating the need for in-house manual order review and other payments or fraud software. Online retailers can apply for an account on Bolt's website.

With these eCommerce fraud prevention tools, it’ll be a breeze to resist malicious intents of fraudsters. If you are new to the game, I’d recommend trying Sift Science, Signifyd and FraudLabs Pro, as these services offer free plans. In such a way, you can check out the major principles of their work at no cost. In case you need more, you can always switch to their premium plans. But it’s actually up to you. Have you ever used services of this kind? How did they help you fight online fraudsters? Feel free to share your experience in the comments below.