Fraud Strategy Management- Knowledge Transfer

Created by Luke Mathews | 2024

Fraud Strategy Management Within Fuel and Mobility Payments

The ai Corporation

Executive Committee

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Fleet Card Strategy Management

Types of Fraud on Closed Loop Cards

Whilst we are familiar with the method of installing false housing on a payment terminal, the method of transferring fraudulent attained data has increased in sophistication. These methods expedite the time to generate cloned cards and reduce the fraudster’s exposure by allowing them to retrieve data at a distance from the terminal.

Despite initiatives to increase awareness surrounding point-of-sale tampering, we still see this as one of the most common types of card cloning, prolifically at remote sites or sites with low staff presence.

Skimming

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Abuse of Genuine

Swapped Cards

E.V Charging Station Q.R Code Replacement

Public Parking Q.R Code Replacement

Fraudulently Obtaining Data

Account Takeover

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Toll Fraud

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Cloned Number Plates

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The aiAutoPilot ML® application uses cutting-edge Machine Learning methods to greatly enhance our managed service team's capabilities. aiAutoPilot ML® further enhanced our Managed Service teams' capabilities by reducing the manual overheads associated with fraud strategy development and using advanced modelling to increase fraud detection.

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At the core of the aiRiskNet® products resides the aiRiskNet® Rule Engine, containing a comprehensive array of statistics and logic that enable the development of complex, high-performing rules. This high level of functionality allows fraud strategy teams to develop highly detailed, multi-tiered rules strategies targeting specific fraud types or high-risk areas.

A key component of fraud strategy development is rich, accurate, and informative data that is readily assessable and easy to use. Deploying aiSmartIntelligence®, our teams have access to an array of detailed analytics enabling users to visualise relational trends, behavioural patterns and key metrics that aid in both the escalation of alerts as well as the development of comprehensive fraud strategies

The full utilisation of industry-specific data has become integral in developing our customer scoring algorithms within the Retail Fuel sector. Utilising these data points has resulted in our strategies being able to identify fraud at the first occurrence across multiple fraud types as well as increase our capabilities in identifying first-party fraud, such as ‘Abuse of Genuine’. Some examples of how we achieve this are…

Odometer Readings

Site Information

Vehicle Registration Number (V.R.N)

Product Information

Derived Miles Per Gallon (M.P.G)

Speed of Detection

Fraud Detection Rate

Fraud Rate

Identifying cards that may be shared between vehicles and vice versa is key to mitigating false positives. Utilising a vehicle's V.R.N allows us to profile behaviours at both vehicle and card levels, granting greater accuracy in identifying potential fraud.

An odometer reading indicates the number of miles a vehicle has travelled. Within the commercial sector, this information is captured at the point of fuelling and inputted either directly by the driver or requested by attendants. This data point is one of the most prolific in accurately identifying deviations from historical activity.

Looks Legitimate? Using similar methods observed at E.V. Charging Stations, QR codes to fraudulent websites replicating legitimate sites are used to capture personal information and receive payments. As we see a further increase in the demand for app-enabled parking, this introduces a similar exposure to fraudulent abuse as we observe in E.V. charging stations.While many car park management organisations have a specific parking app, it's becoming increasingly common for street signs to be manipulated to encourage people to pay via a web link or freephone telephone numbers by masking legitimate information under false signage.

Detailed product information regarding fuel types and litreage is key to deriving tired risk strategies and calculating Miles per gallon.

Detailed site information, including location, pump numbers and terminal identifiers, are crucial fields used in both geospatial rules/logics and identification of points of compromise

Multiples of the Same VehicleIn the past 5 years, incidents involving vehicles using cloned or false number plates among commercial vehicles have risen by approx. 270%, with the most common being ‘drive-offs’ from petrol stations (filling a vehicle and leaving the forecourt without paying). While identifying these vehicles can be nearly impossible at the forecourt, utilising geospatial rules as part of a rule strategy enables us to identify logistically impossible transactions upon authorisation. Identifying this behaviour at the authorisation level allows for early exposure mitigation by declining transactions or blocking cards as well as notification to the fleet managers.

The ability to derive a vehicle’s M.P.G has been critical in identifying Abuse of Genuine fraud, which has steadily risen since 2020.

Looks Legitimate? QR codes to fraudulent websites replicating legitimate sites are used to capture personal information and take payments directly to fraudsters. The increased demand for accessible E.V. charging points generates unique opportunities for fraudsters. Numerous sites are unmanned and often located in low-foot-traffic areas. These locations are ideal for QR code manipulation fraud, where fraudsters know there is a reduced risk, and codes may be used multiple times before being detected.

Fraud Strategy Management- Knowledge Transfer

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Transcript

Created by Luke Mathews | 2024

Executive Committee

Hover over the interactive icons to learn more

Fleet Card Strategy Management

Types of Fraud on Closed Loop Cards

Types of Fraud on Closed Loop Cards

Despite initiatives to increase awareness surrounding point-of-sale tampering, we still see this as one of the most common types of card cloning, prolifically at remote sites or sites with low staff presence.

Skimming

Hover over the boxes to find out more

Abuse of Genuine

Swapped Cards

E.V Charging Station Q.R Code Replacement

Public Parking Q.R Code Replacement

Fraudulently Obtaining Data

Account Takeover

Hover over the icons

Toll Fraud

Click on the image to find out more

Cloned Number Plates

Hover over the blue interactive icons to find out more

Hover over the interactive icons to find out more about the different fraud status types

<--- Hover here to find out more

Click to expand the images

Odometer Readings

Site Information

Vehicle Registration Number (V.R.N)

Product Information

Derived Miles Per Gallon (M.P.G)

Speed of Detection

Fraud Detection Rate

Fraud Rate