Using Sophisticated WAF Technology to Put the Stop to Card Fraudsters: Part II

Posted by Aaron Fosdick on May 8, 2018 9:35:00 AM
Aaron Fosdick
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Continued from part I. Credit card fraud is an increasingly prevalent issue for card holders, card issuers, and merchants alike. Traditional approaches to WAF technology may lack the intelligence to detect and neutralize credit card fraudsters, but there are new ways, such as ThreatX's contextual behavioral analysis, that are effective in neutralizing these attacks. 

Preventing credit card fraud using next gen WAFs

Continued from Part I

How can WAFs protect merchants? 
From a traditional Web Application Firewall perspective, it’s not possible to identify a bad transaction as a stand-alone event because the request itself doesn’t have any malicious indicators. The fraudster is using a normal web browser and card decline messages come across as valid web responses “200 OK”. Not to mention, there are plenty of card declines from valid users who maxed out their cards or entered incorrect information. The difference is that a valid user has one or two card declines whereas a fraudster easily has ten or more card declines.
This key difference in behavior can be used to intelligently identify fraud when multiple card decline events are tracked over time. The ThreatX WAF has the ability to do this easily without any knowledge of the PAN or CVV, and without false positives. How?
1. When multiple card decline responses are detected over a short period of time, the ThreatX WAF blacklists the fraudster, preventing them from accessing the shopping cart and completing the transaction. 
2. ThreatX injects a cookie, enabling us to identify the fraudster even if they pivot to another IP address. Unlike many bots, card fraudsters typically enable cookies so they can keep their shopping cart session active. 
3. Best of all, this is all accomplished without code changes to the website since we are only tracking decline responses.
The occasional user with one or two declines can seamlessly complete a transaction since they are below the block threshold, while malicious users are blocked. ThreatX delivers a big win for our customers who see loss from card fraud drop dramatically. 
You can learn more about ThreatX's intelligent approach to detection and neutralization of credit card fraudsters and other malicious threats by visiting our website.
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Topics: Threat Intelligence

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