In the early days of ecommerce, we jokingly called it 'Toners for Taliban'. They would purchase goods with a stolen card from a company that ships fast. They'd have the item shipped to a rube who answered a "Make money fast! All you need is a computer and a mail box!" advertisement. Then, the rube would resell the item on Ebay and send a cut back. The rube takes the fall, if any.
Detecting this fraud was pretty obvious when you actually had a chance to look. Someone with a billing address in Florida is shipping a video projector to an address in Arizona, from an IP address in Austria? And they always fill out the forms in ALL CAPS? And that same IP has placed orders on a dozen other accounts?
The problem back then was that humans didn't have the time to do that exercise, and ML wasn't up to snuff, yet. Things are obviously better, now. However, at the same time, the fraudsters are probably smarter, too.
In the early days of ecommerce, we jokingly called it 'Toners for Taliban'. They would purchase goods with a stolen card from a company that ships fast. They'd have the item shipped to a rube who answered a "Make money fast! All you need is a computer and a mail box!" advertisement. Then, the rube would resell the item on Ebay and send a cut back. The rube takes the fall, if any.
Detecting this fraud was pretty obvious when you actually had a chance to look. Someone with a billing address in Florida is shipping a video projector to an address in Arizona, from an IP address in Austria? And they always fill out the forms in ALL CAPS? And that same IP has placed orders on a dozen other accounts?
The problem back then was that humans didn't have the time to do that exercise, and ML wasn't up to snuff, yet. Things are obviously better, now. However, at the same time, the fraudsters are probably smarter, too.