According to Charities Aid Foundation, 40% of donations in Australia are online. Unfortunately, as the popularity of online giving soars, not-for-profits have become a target for donation fraud.
Save the Children Australia recently documented instances of card testing – a technique where fraudsters use a low transaction threshold, usually $1, to “test” stolen credit card numbers before making larger purchases.
Although the fraud incidents had a low transaction value, Save the Children Australia was still being charged by its payment gateway for each chargeback transaction.
This led Forter to partner with Save the Children Australia to reduce card testing fraud by deploying the company’s Trusted Conversions solution. The platform provides Save the Children with decisions about every transaction to discern between genuine donations and fraudulent activity.
The platform gives Forter the power to assess an individual’s trustworthiness within an average of 300 milliseconds, ensuring fraudsters are stopped without creating friction in the online giving process for supporters. Since implementation, Forter has approved over $260,000 worth of donations, increasing the approval rate from 95% to 97%.
Save the Children Australia chief operating officer Mel Parks is pleased that Forter’s platform has prevented donation misuse.
“The automated approvals process also saves valuable time and resources,” Parks said.
“Online giving has opened entirely new doors for organisations like Save the Children Australia, but it has also opened doors for fraudsters,” said Forter vice president APAC Joe Lee. “It’s incredibly rewarding to partner with Save the Children to stop fraudsters in their tracks and continue giving back to communities across the region.”
Save the Children Australia reaches thousands of children across hundreds of communities with funding from more than 116,000 Australians, corporate and philanthropic partners, and federal, state and local governments.