Inaugural Fraud Index Report Finds You Can Trust Scandinavians and
Book Buyers; Be Wary of Indonesian and Cable TV Buyers
Among the report findings:
“As merchants seek sales growth by expanding internationally and selling into emerging growth markets, they will encounter fraud. I won’t hazard a guess as to why pay TV and Indonesian purchases are so rife with fraud, but fortunately there are ways to detect it before damage is done,” said
As part of its Fraud Index monitoring activity, 2Checkout uses a sophisticated tiered defense system that automatically flags fraudulent purchase activity at the point of sale. 2Checkout sits between the buyer and seller and is able to intercept fraudulent transactions before they cause financial harm to the seller.
A copy of the Fraud Report may be downloaded at go.2checkout.com/fraud-index. Media interested in receiving a copy of 2Checkout’s quarterly Fraud Index report may send a request to
2Checkout’s quarterly fraud data is gathered from a worldwide sample of approximately one million online transactions. 2Checkout identifies fraudulent activity in real-time using proprietary technology that combines direct observation, network-level intelligence, and 300+ system heuristics that evaluate every transaction to verify it.
The 2Checkout Fraud Index scores are calculated by first determining a ‘fraud rate’ – as derived by dividing the number of fraud incidents by the total number of transactions. The average fraud rate worldwide is set equal to 100, and all other fraud rates are normalized to this index. Therefore, a country with a Fraud Index of 200 is considered to be twice as risky as the average. The Fraud Index data is then cross-tabulated against buyer characteristics such as credit card type, billing address, IP address, email domain and transactional characteristics such as currency, purchase type, and transaction value.
A worldwide leader in payment services, 2Checkout maximizes online sales conversions by giving global buyers localized payment options. Trusted by over 50,000 merchants, 2Checkout supports transactions in 196 countries through 8 payment methods, 26 currencies, and 15 languages, forming one of the leading processors of online transactions in the world. The service is simple to implement, including a pre-integrated payment gateway, a merchant account, PCI compliance, international fraud prevention, and easy integration for more than 100 of the most popular shopping carts.
Rocket Science PR, for 2Checkout
Office: +1-415-464-8110 x213