Sunday, April 14, 2024

Forter’s fraud solution

The Forter Loyalty Program Protection solution will protect high value rewards programs from fraud and abuse, enabling merchants to offer enhanced programs with the best possible customer experience.

Loyalty program fraud rose 89% year on year, predominantly driven by the amount of personally identifiable information (PII) available from increasing number of data breaches.

“Our loyalty program allows us to thank our customers by rewarding them with better benefits and a better experience while also enabling us to stay ahead of the competition,” says Director, Financial Operations, Doug Ferreira.

“Forter has helped us reduce loyalty program fraud by more than 60%  while we build stronger relationships with our customers.”

What can cyber criminals do?

Account takeover: Fraudsters hack into member accounts, exploiting accumulated points and payment instruments saved in the account.

New account fraud: Fraudsters create fake accounts, often using stolen identities, and use them to accumulate, store, sell and redeem stolen points.

Policy abuse: Consumers overshare coupons or promotional codes, violating merchant policies and illegitimately gaining program rewards.

Forter’s Loyalty Program Protection solution is the only integrated fraud prevention platform that protects loyalty programs from all types of fraud and abuse, including transactional fraud, account-based and policy abuse.

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