Almost everyone in Switzerland uses anibis.ch. It is a classifieds marketplace that lists more than 800,000 advertisements from private sellers and registers over 10 million visits on its website each month, where every effort is made to securely connect verified sellers with verified buyers and prevent online account-based fraud. Instrumental to this effort is the company’s use of TeleSign’s end-user verification and real-time fraud detection solutions.
Two-Sided Marketplace Fraud
Fraud enters classifieds marketplaces in the form of both malicious “buyers” and malicious “sellers.” Anibis.ch wanted to stay ahead of the ever-changing fraud attack vectors in order to prevent bulk account creations, fake account registrations and account takeovers. They focused their efforts on evaluating solutions that offered features to assist with increased identity assurance and account security, as they were experiencing increases in user reported fraud cases and support calls. Anibis.ch knew that if no action was taken to further prevent fraud, their brand reputation and user trust would decline.
Industry-Standard Account Protection
Anibis.ch ultimately chose to implement TeleSign Score, SMS Verify and Voice Verify in order to block scammers with fraud risk intelligence and account registration verification. They require a new user to provide a valid phone number before they can post an item for sale or make a purchase. Using Score, potentially malicious buyers and seller are blocked at registration if their fraud risk scoring (based on their phone number) comes back noting a suspicious phone type, linked to previous history of fraud, or identified as having fraudulent traffic or velocity patterns. This valuable user profile data has allowed Anibis.ch to make automated data-driven fraud risk decisions, which has increased the identity assurance of their user base. Using SMS Verify and Voice Verify, Anibis.ch is also able to connect a verified and valid phone number to each end-user account using phone-based verification.
A Better and Safer Community
Using a comprehensive TeleSign security solution, Anibis.ch has been able to reduce the number of fraudulent account registrations by 20%, prevent account takeovers of their legitimate users and reduce fraud related losses and associated costs. Overall, Anibis.ch has seen about 85% less cases of reported fraud within their community from stolen accounts and unauthorized account access.
By establishing a global trust anchor using a verified phone number for each account, Anibis.ch has also been able to increase user confidence and trust of their brand.
“TeleSign provides security solutions that are easy and quick to implement, delivers industry-standard account protection, and we find tremendous value in that,” said Jelena Moncilli, Anti-Fraud Specialist at Anibis.ch.
To learn more about how Anibis.ch is using TeleSign, check out the full case study, here.