Case Study: GoFundMe stops fraud spikes with Pagos Insights

GoFundMe stops fraud spikes in January 2024 with Pagos

GoFundMe, an online fundraising platform, faced a challenge in early 2024 when they identified a dip in approval rates and a spike in fraudulent donation attempts. They turned to their partner, Pagos, and used its Pagos Insights payments data monitoring platform to investigate the coordinated attack and pinpoint the cause of the fraudulent activity.

Using Pagos Insights, GoFundMe isolated the fraudulent transactions by identifying their common attributes, including a specific transaction amount. With this detailed analysis provided by Pagos, the company immediately implemented a new custom fraud rule. This solution allowed GoFundMe to effectively stop the fraud ring, preventing financial loss while minimizing the impact on legitimate donations.

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