Case Study: Fraudulent Retail Orders in the Phone Channel

How Pindrop Helped One Retailer Reduce Card Not Present Fraud

Phone fraud is a significant problem for retailers. In 2014, one major consumer electronics retailer estimated that 5% of all orders taken over the phone resulted in a chargeback. For the most popular brand name products, such as Apple, chargeback fraud was as high as 50%. All this translated to an annual phone channel fraud loss of over one million dollars.

Pindrop’s solution was to give them access to anti-fraud authentication technology, which identifies call spoofing and other attempts to defraud retailers by providing a highly accurate call risk score. It verifies location and call type and matches it against Caller ID or ANI data to identify spoofing. It also creates a unique phoneprint for the caller and compares the phoneprint to Pindrop’s database of known fraud rings and repeat fraudsters regardless of the real or spoofed number they are using. This case study takes a deeper look into the problems facing retailers, the benefits Pindrop’s anti-fraud technology was able to provide, and how the solution prevented financial losses.

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