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FraudLabs Pro Review 2021 – Is It Best Fraud Detection Solution?

FraudLabs Pro Review 2021:

Do you know the best counter to money fraud?

As the world has become more digital, transactions are also done online, and there is no hand-to-hand procedure involved. This provides real ease to both parties, but there is a major problem with online transactions. Nowadays, there are more cases of online fraud than ever before. When you are doing a massive transaction, you want to be sure that the money will reach the desired person. A lot of times, people can use malicious software or tricks to get money for themselves.

Financial fraud has become pretty common in recent times. There is a lot of software that claims to solve this issue and to provide the best security. FraudLabs Pro is probably the best solution to these online frauds. It has a ton of features and different price plans that cater to the different types of individuals. So, we are going to take a deep dive into FraudLabs Pro and see whether it is worth buying or not?

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What is FraudLabs Pro?

FraudLabs Pro

FraudLabs Pro is a platform that helps merchants to protect their online stores from all types of fraudsters. As more and more people are shopping online, fraudsters can take advantage of this situation and make a lot of money. FraudLabs Pro is designed in such a way so that it monitors all of the transactions. If you are making a transaction with either PayPal or by credit cards, all of the transactions will be screened by FraudLabs Pro.

With this type of screening, FraudLabs Pro can always keep an eye on any fraudsters that might try to take the money. This is a straightforward yet effective solution, so it is really beneficial for merchants. You can easily increase your revenue as you won’t have to deal with any types of fraud. You will always make the most revenue. The operating efficiency of your online store will also be increased as a result.

Investigating a fraud case can be really difficult without the help of a tool. With FraudLabs Pro, you can easily find out the fraudster and get your money. FraudLabs Pro is the best tool for instantly detecting any fraud.

Getting Started:

One of the best things about FraudLabs Pro is that it is effortless to get started. There isn’t any trial version available, but you do get a FREE package that you can use to protect your payments from fraud. The whole process is straightforward, and it also doesn’t require you to have a credit card either.

Features:

Fraud prevention has never been this much easier. FraudLabs makes it seem very easy as it is a very sophisticated fraud detection tool. It provides you with a lot of features that are aimed to protect from frauds or any chargebacks. All in all, you can drastically improve your revenue if you use FraudLabs Pro. The most prominent features of this tool are:

  • Custom Validation Rules
  • Merchant Network
  • Merchant Area
  • Mail Notification of Fraud Orders
  • Mobile Notifications
  • SMS Verification
  • Social Profile Query

These are some of the most useful features provided by FraudLabs Pro. It gives the orders a score based on their authenticity. In this way, you can easily figure out the fraud orders from the real ones. You can also set custom validation rules on FraudLabs, which gives your more flexibility. Using FraudLabs Pro, you get access to their merchant network, for real time fraud dataIf there are any fraud orders present at your store, then FraudLabs Pro will inform you about that order either by email or through the mobile app.

How Does It Work?

FraudLabs Pro uses an analytic engine that analyzes every order. It is so advanced that it can easily screen various order elements in a fraction of a second. You can also further analyze the suspicious order in the merchant area. As you can custom set your own validation rules, you can make the process much more effective and faster. After FraudLabs Pro has analyzed all of the orders, it gives each of them a score that basically shows the risk involved. It also divides them into Approve, Review, and Rejects categories. This helps in finding the malicious ones. The three main things that FraudLabs does is:

  • Analyzing the Orders
  • Providing A Risk Score
  • Separating Orders into Approve, Review & Reject Categories

Blacklist Data & Machine Learning:

One of the things that make FraudLabs Pro stand out is its use of Blacklist Data and Machine Learning. FraudLabs Pro uses things like:

  • IP Address
  • Email Address
  • Credit Cards
  • Devices

With this kind of blacklist data, FraudLabs Pro can easily catch any fraud in a very effective way. Machine learning is a different machism from blacklist check It uses machine learning to learn through your actions as well. If you are approving, rejecting something, then FraudLabs Pro learns the Fraud pattern using all of that information. So in the future, it can get better at predicting fraudsters.

Fraud Validations:

FraudLabs Pro performs the following types of fraud validations:

  • IP Address
  • Anonymous Proxy
  • User Account
  • Billing & Shipping
  • Email Address
  • Transaction Validation
  • Blacklist Validation
  • Credit Card

All of these validations help FraudLabs Pro is doing its job very effectively. So, it can easily find any fraudsters looking to steal your money.

Why FraudLabs Pro?

FraudLabs Pro is the best anti-fraud tool because it performs a lot of comprehensive fraud validations on things like IP address, location, and the credit card that help it to be more effective. There are more than 40 validation rules that can be enabled by the users based upon their business’ needs. FraudLabs Pro’s merchant network also has provided tons of blacklist data which helps FraudLabs Pro to minimize the chargeback as much as possible. The main reasons of why you should choose FraudLabs Pro are:

Less Chargeback:

Finding the fraud order is very difficult, but with FraudLabs Pro, you can easily detect it. All of the blacklist data that FraudLabs Pro has at their disposal helps find the actual fraud order and reduces the chargeback. So, you will suffer much lower chargeback losses.

Increased Sales:

By using FraudLabs Pro, you will have to worry less about frauds, and thus, you will be able to focus more on increasing sales. You can be assured that FraudLabs Pro will provide you with the best fraud detection service.

Benefits:

Some of the major benefits of using FraudLabs Pro are:

  • Ease of Use
  • Powerful Machine Learning
  • Customizable Validation Rules
  • Less Chargeback
  • Increased Sale Revenue
  • Affordable Price Plans

Pricing Plans:

The best thing about FraudLabs Pro is that the entry package is completely free. If you have less than 500 queries in a month, you should absolutely use the Micro package as it won’t cost you anything.

Micro:

  • 500 Queries/month
  • 5 Validation Rules
  • Standard Support

If you want a bit more features, then you can choose any of the below mentioned packages:

Mini: $29.95/month

  • 1500 Queries/month
  • 5 Validation Rules
  • 1 Grouping Rule
  • Auto-Recharge
  • Priority Support

Small: $99.95/month

  • 5000 Queries/month
  • 10 Validation Rules
  • 2 Grouping Rule
  • 1 Sub Account
  • Auto-Recharge
  • Priority Support

Medium: $249.95/month

  • 25,000 Queries/month
  • 20 Validation Rules
  • 5 Grouping Rule
  • 2 Sub Accounts
  • Auto-Recharge
  • Priority Support

Large: $499.95/month

  • 100,000 Queries/month
  • 30 Validation Rules
  • 10 Grouping Rule
  • 4 Sub Accounts
  • Auto-Recharge
  • Priority Support

Enterprise: $1249.95/month

  • 500,000 Queries/month
  • 40 Validation Rules
  • 20 Grouping Rule
  • 8 Sub Accounts
  • Auto-Recharge
  • Priority Support

All of the price plans are very well priced and provide a lot of features. however, if you want to get the most features, then you should go for the later ones.

Verdict:

There aren’t that many good fraud prevention tools present in the market. FraudLabs Pro is a one-of-a-kind tool that provides its customers with a lot of features and a Free version as well. Its analytic engine is really good at detecting any fraud. So if you in the market and want the best possible solution to financial fraud, then you should absolutely go with FraudLabs Pro.

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