Fraude

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The Fraud Summary view offers a summary of fraudulent transactions reported on your account. This will always include data produced up to and including the full prior month. The data displayed should be used for a set of key performance indicators for fraud trends in your business, to determine how vulnerable you are to fraud and how that vulnerability might be changing over time.

  The fraud amounts and transactions shown are those reported back to Trust Payments (typically by the issuing bank via the schemes) as suspected fraud, usually based on a claim by the cardholder that they did not authorise the charges and they are suspected to be fraudulent. These are also known in the industry as “TC40” (VISA) and “Safe” (Mastercard) messages.

 

Value of Fraud, Number of Fraud, Average Fraud

These three tiles show total fraud value (on the "Value of Fraud" tile), total volume of reported fraudulent transactions (on the "Number of Fraud" tile) and average fraudulent transaction value (on the "Average Fraud" tile) for the full prior month, and also the current year to date (up to and including the full prior month). Each metric has the variance versus the same month in the prior year, and the same year to date position in the prior year.

Example

If the dashboard were being viewed in early April 2022, then the month view would show the full month of March 2022 vs the full month of March 2021. The YTD date view would show January – March inclusive for 2022, and the “vs last year” would be versus January – March inclusive for 2021.

 

Fraud by Scheme

The "Fraud by Scheme" tile shows metrics regarding fraudulent transactions, arranged by card scheme. This allows you to view if fraudulent transactions on your account are being processed more frequently with Visa cards than Mastercard, or vice versa.

The "Number" column provides the volume of reported fraudulent transactions when arranged by scheme, "Value" provides the total transaction amount and the final two columns show the increase/decrease as a percentage of fraudulent transactions when compared to the previous month or year to date (up to and including the full prior month) respectively.

 

Visa and Mastercard Fraud Ratios

The "Fraud Ratios" tiles display graphs that cover the previous 13 months of trading, showing fraudulent transactions as a proportion of total sales. The fainter lines display fraudulent transactions as a proportion of transaction value and the darker lines display fraudulent transactions as a proportion of transaction volume.

 

  It’s important to note that the fraud reports are not a reliable indicator of rates of true fraud chargebacks, since not all fraud claims result in chargebacks, e.g. where the cardholder has not recognised a genuine transaction on their account.

The reports should also not be employed as an early warning system for possible chargebacks, since often they are not sent to Trust Payments until long after the claim is made.

If early warning for chargebacks is required, we recommend contacting your Trust Payments representative to discuss the Verifi and Ethoca solutions we offer. Click here to learn more.

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