Introduction
FraudLabs Pro is proudly introducing 2 new Smart Detection features, namely IP Location Anomaly Detection and Ship Location Anomaly Detection. These two new features aim to automatically detect unusual IP or shipping locations for an order based on historical sales records.
What is IP and Ship Location Anomaly Detection?
In essence, IP Location Anomaly Detection identifies if an order’s IP geolocation follows a normal pattern based on past sales records. A “normal pattern” means the location has been previously observed and learned from past sales data. Similarly, Ship Location Anomaly Detection examines if a shipping address matches previously seen records. Both IP and shipping detections are trained using data from the past two weeks (14 days).
Key advantages of IP Location anomaly Detection
Real time detection on possible IP location anomaly
IP Location anomaly detection able to detect any possible anomaly in real time. By utilize this detection, merchants can get benefits of identifying any potential IP location anomaly instantly. Merchants can also take preventive measures, such as adding suspicious IPs to a blacklist or watchlist, after identifying an abnormal IP location.
Keep up with changing sales data
As merchants’ businesses grow over time, they acquire new customers, some of whom may become regular buyers. To ensure the detection system accurately recognizes these evolving customer patterns, it continuously fetches data from the past two weeks on a weekly basis and performs self-training. This process allows the detection system to stay current with the latest sales patterns from the merchant’s data.
Key advantages of Ship Location anomaly Detection
Advance fraud prevention on shipping address
By leveraging this ship location anomaly detection with others detection such as billing address validation, merchants can identify dubious transaction with minimal efforts. Any transactions that used different addresses in the billing and shipping section, and also used a rare shipping address will be flagged for further investigation.
Early intervention to suspicious transactions
By incorporating ship location anomaly detection into daily fraud prevention processes, merchants can block potential shipping fraud before it happens. They can also avoid potential losses from shipping goods to fraudsters using unusual shipping addresses.
Validation Rules for IP and Ship Location Anomaly Detection
FraudLabs Pro introduced new Validation Rules for the IP and Ship Location Anomaly Detection. These rules can be found in the Rules page and they are only available for merchants that are subscribed to the Medium plan, or higher.
How to enable these features in my account?
Here are the detailed steps on how to enable the feature:
(Note: Please note that this feature is only available for merchants that are subscribed to the Medium plan, or higher plan. Please visit pricing page for the upgrade).
- Login to your FraudLabs Pro merchant dashboard, and go to your account setting as shown in the screenshot below:
- In the setting page, scroll to the bottom until you find the “Smart Detection” section.
- In the Smart Detection section, you will see there are two buttons for IP Location Anomaly Detection and Ship Location Anomaly Detection respectively. By default, these features are set to off, and you will need to click to enable these features.
- Click on the “SAVE CHANGES” button, and you are now ready to use these features. The detection will run in the background and validate incoming transactions.
- To examine whether an order is being detected as IP location abnormal or Shipping location abnormal, you can visit the transaction page and click on the view button for any transaction.
- Scroll to the bottom until you can see a new section called “Smart Detection”. In this section, you will see the detection result for this transaction for IP and ship location anomaly. For instance, if the transaction had been detected with one of the anomalies, you will see such result in the section:
- If the transaction had not been detected with any of the anomalies, you will see such result otherwise:
Conclusion
In conclusion, these new “IP and Ship Location Anomaly Detection” features will help merchants to take advance preventive measures in fighting payment fraud. By adding on these features into the fraud prevention process, merchants can make sure that they are always staying ahead of any possible fraud attacks. Merchants should also see a lower rate of chargebacks caused by such anomalies.
Secure Transactions, Seamless Business
Say goodbye to fraud worries! Secure your online store with FraudLabs Pro now.