Recorded Future, the intelligence company, has announced the expansion of its Intelligence Cloud with Payment Fraud Intelligence, a single source of truth for identifying, mitigating and preventing payment fraud.
Payment Fraud Intelligence enables those focused on payment fraud, including financial institutions, card issuers and e-commerce providers to disrupt the entire payment fraud lifecycle by helping to detect e-skimmer infrastructure and compromised cards associated with malicious activity.
Payment fraud is a multi-billion dollar industry impacting merchants, cardholders and financial institutions and will result in over US$400 billion in losses globally over the next decade. Historically, the industry has taken a reactive approach, waiting until fraudulent purchases take place, then attempting to limit losses, resulting in further reputational damages and financial losses.
Recorded Future has unparalleled visibility into the complete payment fraud infrastructure, enabling clients to disrupt criminal activity by proactively detecting payment data being sold on the dark web, finding e-commerce sites infected with e-skimmers and mapping thousands of the tester merchants used to validate cards before they’re used fraudulently.
Recorded Future’s Payment Fraud Intelligence enables payment fraud teams to proactively:
- Pinpoint compromised Common Points of Purchase (CPPs)
- Enhance risk-exposure models and lower fraud potential
- Improve average fraud rate metrics across an entire card portfolio
- Detect attacker infrastructure being used to skim payment card data
