I’m having a real concern for blocking/disallowing the usage of fraudulent transactions in our platform.
Some customers use some kind of fraud or stolen card (US cards) to make payments on our platform and they keep doing it on a daily basis. It is not one or two cards. It is many (more than 50 a day).
We are not a payment company, so we don’t have a license to store the card details in a database and block the card if the same card appears again.
The weird thing is these customers are able to pass 3D secure page protected by the bank website, which asks for real user’s OTP for that transaction.
Though I’m blocking customer’s accounts and their Android device IDs if they are a suspicious user.
Is there any way I can reduce or stop these frauds?