5 More Reasons You Need a Human Intelligence Team

If your business has a fraud problem, you could benefit from bringing on an experienced human intelligence team as part of your fraud prevention infrastructure.

We talked in a previous post about five ways this could benefit you. Now we’re going to talk about five more.

They build their own tools.

There are many tools on the market that can help with your fraud prevention efforts – from card verification and identity services to two-factor authentication. But sometimes you need more than something off the shelf. Sometimes you need something customized and purpose-built specifically for your use case. And that’s something a good human intelligence team can help with!

For example, you may find yourself in need of a secure tracking tool to easily log actions against accounts that you block for fraud. That’s something a human intelligence team can build! Or you may find yourself with too many fraud prevention tools and in need of a centralized location – a toolbox – where they can all be accessed. That’s also something a human intelligence team can build! Both tools require specialized knowledge of your system and processes to create, but as you’ll find, specialized knowledge is where your human intelligence team excels.

They find the data.

Creating the type of tools mentioned above requires a detailed understanding of your platform. Among other things, that means knowing what data is available and where it lives. It’s not enough to collect data from customers, you also must put that data to use. But that’s where your human intelligence team steps in: they can coordinate with your business team to identify what data is being collected, what data should be collected to optimize fraud prevention (hint: it may not be what you think), and how to turn that data into something that can be consumed by your team for fraud prevention purposes.

Then they put your data to use, performing manual reviews, bulk pattern identification and account closures, and building out anomalies so they can catch the fraud as soon as it hits your platform.

Fraud moves quick – but they’re quicker.

And that response time can be crucial. By identifying an incoming fraud attack days or even hours before it hits, a human intelligence team can partner with your automated risk prevention model or modify your rulestack to curb the attack – which could end up saving you big bucks on prevented fraud loss.

Fraud attacks can start without warning. And once an attack starts, it can turn on a dime, moving to a new region, a new product, or a new approach with signs so subtle, they can easily be missed if you’re not paying attention. Lucky for you, a human intelligence team is always paying attention. They’re deep in your platform, watching so closely they see the signs of a fraud shift before anyone else – long before an automated risk prevention or machine learning model will.

They know when something’s not working – and they find a solution.

Aside from identifying and preventing incoming fraud attacks, having a human intelligence team embedded in your infrastructure can have other benefits. When something goes wrong or breaks in the fraud prevention pipeline, your human intelligence team will be the first to know.

For example, if customer complaints about being blocked start piling up from a particular region where this was uncommon before, your human intelligence team can sound the alarm that something may be wrong with your system. Or if they notice their account blocks aren’t successful (if they start seeing accounts they blocked make subsequent purchases), that’s also a red flag they’ll raise ASAP.

They’ll keep you in the loop.

Human intelligence teams are flexible, they’re creative, and they’ll know your platform and its fraud economy like no other. They’re boots-on-the-ground in the fraud trenches and they’re also the eyes in the sky of your infrastructure. They have the knowledge, and they’ll use it to keep you up-to-date.

Have an in-the-moment question about a fraud attack? You can ask your human intelligence team. Wondering how your fraud stats compare to last quarter? Your human intelligence team can build a report for that. Need a recurring high-level overview of what’s happening? Your human intelligence team can deliver monthly or quarterly business reviews for you and your stakeholders. Anything you need to know about fraud on your platform, they’ll have the answers.

Human intelligence teams can be an invaluable resource for you and your business. If you need help achieving your fraud prevention goals, you can learn more about IP Services’ human intelligence support and other fraud prevention services by contacting us here.