Case Study: Global Trading Service Company reduces foreign currency trading fraud with TransUnion

Global Trading Provider Reduces Foreign Currency Trading Fraud

Global Trading Service Company, a global forex trading provider, was struggling with recurring identity theft and credit card fraud that drove chargebacks up to 3%, increased processing costs, and overwhelmed its fraud team. The company needed a better way to identify repeat fraudsters and protect its online trading platform, and turned to TransUnion’s fraud prevention capabilities, specifically the iovation solution.

TransUnion helped Global Trading Service Company integrate device identification, velocity tracking, and customizable business rules across multiple trading-site touch points to detect and block suspicious activity. The result was almost total elimination of fraudulent chargebacks, a $500,000 reduction in fraud losses in just ten months, and lower risk-management costs.