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Conformance Ramps up Battle Against False-Front Merchants with TransactionTrap

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Conformance Ramps up Battle Against False-Front Merchants with TransactionTrap - on DefenceBriefing.net

Conformance Technologies, a fast-growing provider of technology solutions, education and expertise used to manage business compliance requirements, today announced the release of TransactionTrap, a software module that enhances performance of its award-winning InConRadar service for merchant acquirers and independent sales organizations (ISOs). TransactionTrap identifies fraudulent merchants attempting to hide transactions by accepting shopping cart payment information on one website and pushing the data for actual processing through a separate, and perhaps unrelated, credit card acceptance account with the purpose of hiding volume, masking the true nature of goods being sold, or to perpetuate a false-front merchant — one that claims to be one type of retailer but is, in fact, another. TransactionTrap, available to all users of industry-leading InConRadar, is operational in the field as of February 1.



TransactionTrap employs a sophisticated, proprietary algorithm to identify suspect goods and services, and/or merchants. Questionable items offered for sale from websites are identified, purchased and shipped to a secure, unidentified Conformance location for physical examination and photo documentation to ensure legitimacy and legality. A variable code is secretly injected into the process, marking order transactions all the way from purchase through delivery to help investigators identify bad behaviors much more accurately. Refund policies and procedures are tested by returning merchandise to merchants. Acquirers and ISOs receive a comprehensive investigative report for transaction matching and further action as required.

“With TransactionTrap functionality, InConRadar solves the difficulty acquirers and ISOs face in efficiently and effectively investigating both blatant and stealth forms of merchant fraud,” said Darrel Anderson, president of Conformance Technologies. “We not only track transactions based on known card type, but procure goods for examination and return merchandise to test policies to create a solid order custody record acquirers and ISOs can use for validation and legal purposes,” added Anderson.

Honored with the 2017 Electronic Transactions Association’s (ETA) PayPal Tech Innovation Award for risk product of the year, InConRadar is a continuous merchant website and risk factor monitoring service which reviews merchant websites as frequently as every minute. Suspicious commercial activities, plus potential image damaging circumstances and business practices, are identified and presented in a consolidated format so that risk managers can investigate and take appropriate action. InConRadar can be used to streamline and enhance know your customer (KYC) due diligence by learning more about merchants’ digital environments before onboarding and connecting to the payments system, as well as regularly thereafter. InConRadar runs on the Conformance Compliance Operating System, which facilitates rapid development and deployment of new capabilities, helping merchant acquirers and ISOs meet global card brand merchant risk standards, while avoiding non-compliance assessments.

To learn more about how InConRadar and other Conformance Technologies products and services can help you and your portfolio of merchant customers, please telephone 775.336.5533 or email info@conformancetech.com.

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