Yandex.Checkout launches multipurpose fraud protection solution

Tuesday 5 June 2018 11:28 CET | News

Yandex.Checkout has introduced a multipurpose fraud and scam protection product for all businesses: FraudDetector.

The solution detects behavioral and payment fraud, scam attempts, and abnormal patterns. Initially, FraudDetector was used as an internal system to protect Yandex.Checkout partners from payment fraud while reducing their financial risks and maintaining payment conversion. The same system was then extended to the Yandex.Money users, protecting them against wallet scams, account hacks, and theft. Now this service is widely available, with no installation or investment in IT infrastructure required.

FraudDetector can be applied to different business sectors, including ecommerce platforms, online games, payment and financial services, telcos, e-travel, logistics and subscription services, among others. It is based on Big Data collected by Yandex and powered by its machine learning algorithms, with unique fingerprints for each user. The program automatically analyses risks and detects fraudulent behavior and suspicious patterns, and assigns a FraudDetector score to help users take action.

FraudDetector was designed to customize the learning process, triggering to monitor specific scenarios relevant to individual businesses. It is capable of detecting everything, from in-game currency theft and loyalty program account hacks to taxi ride scams.

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Keywords: Yandex.Checkout, fraud protection, FraudDetector, Yandex.Money, payment fraud, ecommerce
Countries: World