FraudGuard allows you to set customised rules for all transactions. There are many options to set your bespoke rules for your business. The rules can include, card issuing country, minimum and maximum purchase thresholds, customer billing settings and number of transactions from the same bank, IP address, card or email.
Once these parameters have been set, every transaction on your site will be given a score to determine if a transaction is deemed high risk, low risk or no risk. The score is determined by how many enabled rules are breached and for those breached rules, the number of points decided by you (5-100, in increments of 5).
If a transaction reaches 100 points, it is deemed as high risk and 1 of 4 actions are taken:
1. Transaction is declined
2. Transaction is declined and a notification is sent
3. Transaction is allowed
4. Transaction is allowed and a notification is sent
If the transaction scores between 5 and 95 points, it is deemed low risk you can opt in to receive a notification alert instead of blocking the transaction.
In addition to your customised parameters, FraudGuard also uses machine learning, predictive and behavioural analytics, global fraud data and a risk mitigation team to help prevent fraud.