Free Tool Helps Online Retailers Combat Fraud

Free Tool Helps Online Retailers Combat Fraud

March 29, 2017         Written By Natalie Rutledge

XOR Data Exchange introduced a free resource for online retailers that may help them identify fraud.

The Austin-based company introduced the Compromised Identity Exchange Basic platform to help retailers more easily identify theft risks. The system analyzes whether a transaction is at risk for fraud by examining several factors: if the individual has been the victim of previous data breaches; how many times they have been the victim of a data breach; whether those breaches are generating fraud; and if the shopper’s information is for sale on the Dark Web.

Retailers will also receive reports about recent data breach activity and the format of any compromised account passwords.

“Our goal when we set out to develop the Compromised Identity Exchange was to remove the burden of fraud prevention from consumers and to build a more efficient, effective method for service providers to prevent fraud,” stated Mike Cook, founder and CEO of XOR Data Exchange. “By taking advantage of this free insight into data breaches, online retailers will be able to easily prevent attempts at identity theft and better protect themselves and consumers from massive financial losses.”

XOR’s Compromised Identity Exchange was first released in May 2016, but this free version is meant to give more retailers the opportunity to protect customers.

The information contained within this article was accurate as of March 29, 2017. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at natalie@lowcards.com