Preventing Triangulation Fraud

In some ways, online fraud is like any other sector in the tech industry—in order to stay profitable, they have to keep innovating. It’s not always easy to extract actual cash money out of a stolen credit card number, and most fraudsters are interested in cash and not whatever random goods they can purchase before the card gets reported and blocked.

One scheme that fraudsters have come up with to maximize their ill-gotten revenue is triangulation fraud, which effectively launders stolen credit through a legitimate merchant. What can merchants do to keep from getting unwittingly entangled in triangulation fraud?

Organized, professional fraudsters don’t amass thousands and thousands of stolen credit card numbers so they can use them for online shopping sprees. They’re trying to convert a plentiful resource—compromised data—into a more valuable one: cash.

Full Text:
https://www.chargebackgurus.com/blog/triangulation-fraud

©Chargeback Gurus 2021
Production: Emily Woodward
Narration: Sarah Rife