Our summary
RazorRisk is a software project designed to catch payment fraud. It helps businesses spot bad actors by looking beyond single purchases. It checks if a buyer shares a device or internet connection with known fraudsters. This works better than just looking at one isolated transaction.
The software uses two separate programs to review each payment. One scores the purchase details, and the other scores the user connections. A mathematical formula combines these two scores. Then, an AI assistant gathers the evidence. Finally, an AI tool called Jev chooses the safest response from a list of options.
This guide helps developers build fraud detection software. The author tested the project using fake transaction data. These results do not guarantee it will work perfectly for a real business. A person should always review uncertain decisions before the software blocks a real customer.
Key takeaways
- Keep different types of fraud evidence separate instead of hiding them in one unexplained risk score.
- Document your test results clearly so people do not mistake them for guarantees in a real business.
- Ask a person to check uncertain fraud alerts before the software blocks a real customer account.