Risk and Security procedures
Liable Services Ltd provides a merchant risk assessment in several steps to assure the quality of each of the merchants. Prior to the acceptance of a merchant, the following standard procedures will be performed:
a) Pre Risk Procedures
- Merchant Application Form
The merchant application form as the central pre risk tool will be submitted to the merchant by Liable Services Ltd. This form has to be completed by the merchant in order to collect all risk related information. In addition to merchant application data Liable Services Ltd collects company paperwork (e.g. certificate of incorporation, MAA, company’s utility bill, declaration letter etc.) for KYC purposes from the merchant.
- URL Check
For each new merchant the risk department of Liable Services Ltd runs a risk assessment of all processing URLs. Hereunto a member of the risk department fills
out the URL check journal of Liable Services Ltd, which is asking for the essential point of possible risk:
1. Structure of the URL
6. Location of operation
7. Business type
- Internet Search
In addition to these standard checks Liable Services Ltd performs background investigations on the company name, the director, the shareholder and bulletin board remarks at search engines.
Liable Services Ltd is connecting Merchants to PCI Level 1 compliant Payment Service Provider, which are offering among secure online payment platforms, the following risk and security services:
b) Processing Controlling
An arriving transaction needs to pass the following secure systems to be forwarded to the acquiring bank:
Cybersource Advanced Fraud Protection System in real-time. Cybersource Advance Fraud Screen enhanced by Visa (AFS) provides fraud risk prediction scores by assessing over 150 order variables such as domestic and international address validation, domestic and international IP address verification, and order velocity.
local and global filter which are constantly activated. Global filter working for each transaction within the whole system; local filter just working for a single merchant account.
Appearing fraud issues will be stored at a separate fraud data base; and stored on a global blacklist.
Merchant Trend Analysis
The PSPs Risk team checks and informs their clients frequently how they are able to improve their service and avoid amiss processing results.
c) Post Risk Procedure
To guarantee the processing quality the PSP has developed “post check procedures” on the assets side. This quality management will proceed in the following steps:
Active chargeback/fraud monitoring and management