Leading retailers collaborate to curb fraud
Home shopping brand QVC and Shop Direct, which owns Very.co.uk and Littlewoods.com, have signed up to a new initiative aimed at cracking down on customer fraud by sharing transactional data.
The new scheme from Transactics, Trade, allows retailers to share and view real-time information related to customer behaviours, including order processing, identity verification, goods lost in transit, returns and other activities to provide a broader pattern of customer behaviour across a much larger range of transactions.
The scheme also draws on data not just on individual consumers but on addresses so that, through data matching, retailers can detect fraudsters using multiple identities across several organisations and other tactics for masking dishonest activities.