[sharing]How to detect fraud using velocity checks

People are normally creatures of habit and this translates to predictable purchase patterns. For instance, paying for certain bills each month, eating at regular places and they usually don’t buy expensive items in large quantities.
The idea behind a velocity check is to detect any purchase behaviour that is out of the ordinary. What would be ordinary is buying maybe 1 large screen TV but a purchase of 20 large screen TVs should raise all kinds of alarms for the merchant. Unless the purchaser…
[sharing]How to detect fraud using velocity checks

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