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This is not a new thing, it's a pretty standard MO of fraudsters to check if the cards they have purchased/stolen are going to work, i.e. have a value to resell
by samwillis 3y ago
This is not a new thing, it's a pretty standard MO of fraudsters to check if the cards they have purchased/stolen are going to work, i.e. have a value to resell.
New small businesses, particularly those that are potentially having a spike in sales (anything AI right now) are a good target as the operators may not have put into place their own monitoring and mitigation yet, but they have enough volume not to trigger an auto lock from the card processors.
Personally I have found Stripes fraud protection better than the competitors, however this thread has some good points about how some of these payments should have been auto-blocked.
- weird-eye-issue 3y agoStripe does do pretty good, but I don't understand the scores for some. I'm looking at a payment I refunded today with a ZERO risk score. 1 minute before this one went through, the same Stripe customer tried a different card and it was blocked with the message "Don't tell the customer that the card was reported lost. Instead, direct them to contact the issuing bank." The same IP address has THIRTY blocked payments using dozens of different cards over the course of 2 hours. Their IP address is in the USA and is a VPN. The card originated from Singapore. Their billing address is the Philippines. The name they used is "jake smith". Again, ZERO risk score out of 100 from Stripe. What the hell...
- liveoneggs 3y agothey don't AI hard enough
- mrguyorama 3y agoYou don't need any AI to properly reject these orders. In fact, using AI here merely opens you up to the possibility that fraudsters find a weird structure that the AI black box somehow labels as non-risky.
- throwway120385 3y agoWhich is one of the concerns I've had about AI/ML since it became in vogue to use it for these problems.