Fraud protection experts BeehiveID are hosting a webinar next week about how traditional methods of fraud prevention can cost dating sites customers.
BeehiveID say traditional fraud prevention tools tend to focus on specific characteristics of individual transactions, such as IP address, geolocation, browser fingerprints or behavioral factors.
They say fraudsters have now developed tools to circumvent such techniques, and these methods even have a high false positive rate, meaning dating sites are falsely identifying good users as bad.
Customers of BeehiveID say around 25% of their rejected transactions turned out to be valid after they were manually analysed.
The fraud protection company will speak about these issues in their webinar “Traditional Fraud Prevention is Costing you Customers” held on 4th June.
Regarding the content, BeehiveID said:
- We will examine the various transactional tools traditionally used to fight fraud – how they work (at a basic level), and where they fall short.
- We will also show a new way of thinking about fraud – instead of trying to prevent fraud by using shallow transactional data, we will show you how person-based data can be a much more effective barrier to fraud, as well as a critical tool for building safe, trusting online communities.
- We will give you a set of tools, techniques, and lessons learned for identifying trustworthy people, as well as explaining how we do it at BeehiveID.
The morning session will be at 9am CST, the afternoon at 3pm CST.