Fraud Prevention Centre

Protect Your Business from Fraud

Advanced fraud detection and prevention tools to safeguard your revenue, reduce chargebacks, and maintain customer trust. Stay one step ahead of fraudsters.

Common Types of Payment Fraud

Understanding fraud types helps you implement the right defences

High Risk
Card-Not-Present Fraud

Unauthorised online or phone transactions using stolen card details without physical card presence.

High Risk
Account Takeover

Fraudsters gain access to customer accounts through phishing, credential stuffing, or social engineering.

Medium Risk
Friendly Fraud

Customers dispute legitimate charges, claiming non-receipt or non-authorisation of goods/services.

High Risk
Identity Theft

Fraudsters use stolen personal information to make fraudulent purchases or open new accounts.

Medium Risk
Refund Fraud

Abusing return policies by claiming refunds for items never purchased or already received.

Medium Risk
BIN Attacks

Testing multiple card numbers with the same Bank Identification Number to find valid cards.

Monek Fraud Protection Tools

Enterprise-grade security included with every account

Included
3D Secure 2.0

Advanced authentication that shifts liability for fraudulent transactions to the card issuer.

Included
Address Verification (AVS)

Automatically checks billing address against card issuer records.

Included
CVV Verification

Requires the 3-digit security code from the back of the card for each transaction.

Included
Velocity Checks

Flags multiple transactions from the same IP or card in short periods.

Included
Device Fingerprinting

Identifies and tracks devices used for transactions to spot suspicious behaviour.

Included
Real-time Fraud Scoring

AI-powered risk analysis assigns fraud scores to transactions in milliseconds.

Included
Blocklists & Allowlists

Automatically block high-risk IPs, cards, or emails while allowlisting trusted customers.

Included
Geolocation Checks

Flags transactions where billing/shipping locations don't match the customer's typical location.

Fraud Warning Signs

Learn to spot the telltale signs of fraudulent activity before processing transactions. Early detection is your best defence.

If you notice multiple red flags on a single order, it's worth taking extra verification steps or declining the transaction altogether.

Report Suspicious Activity

Red Flags Checklist

  • Large orders from new customers
  • Shipping to high-risk countries
  • Multiple cards from the same IP address
  • Billing and shipping addresses don't match
  • Rush shipping requests
  • Multiple failed payment attempts
  • Email addresses with random characters
  • Orders placed in the middle of the night
  • Multiple orders with different cards, same address
  • Unusually high-value transactions

Fraud Prevention Best Practices

Build a comprehensive fraud prevention strategy

1

Implement Strong Authentication

  • Enable 3D Secure for all online transactions
  • Require CVV for card-not-present purchases
  • Use two-factor authentication for account access
  • Implement biometric verification where possible
2

Monitor Transaction Patterns

  • Set up alerts for unusual transaction volumes
  • Review high-value orders manually
  • Track velocity of orders per customer/card
  • Monitor for geographical anomalies
3

Verify Customer Information

  • Call customers for large or suspicious orders
  • Verify email addresses and phone numbers
  • Check social media profiles for legitimacy
  • Use address verification services
4

Maintain Clear Records

  • Keep detailed logs of all transaction attempts
  • Document customer communications
  • Save delivery confirmations and signatures
  • Archive fraud investigation findings

The Cost of Fraud

Understanding the impact helps justify investment in prevention

£3.2bn
UK card fraud losses in 2025
£2.94
Average cost per £1 of fraud
1.8%
Average fraud rate without protection

Concerned About Fraud?

Our fraud prevention specialists are available 24/7 to help you secure your transactions and protect your business from financial losses.