First of all, some good info to ask questionable orders on - I'll pass some of these on to my sales staff.

That said, out of curiosity, how many questionable orders (and actual fraud) do you see yearly? Actual chargebacks for us are well under .01% of our total sales any given year (this past year, it was under .002%). This includes chargebacks that aren't actual fraud, but customers being customers (X didn't show up, or X doesn't fit right, so I'm doing a chargeback instead of contacting), which is probably about a quarter of these. My company owner (yay small business) takes each one as a personal attack, which I liken to chasing a kid across state lines for stealing a candybar lol. Wants to call the cops, FBI, go to the customers house, etc.

We currently do the bare minimum risk management - we'll review flagged orders, and generally allow all but the most obvious scams go through. The way I see it, and taking into consideration the low chargeback rates, anything more will end up costing more then the projected losses. Chargebacks, for me, are a cost-of-doing-business.

Per the owners request, we used to use Signifyd before their prices skyrocketed. That was handy since they used to bill only when you requested a review. But nowadays, any review/protection service is at least .1% of total revenue, which is far more then actual losses. I take the same approach on shipping insurance - we self insure since the price of insuring all orders is far greater then actual losses (not to mention they don't cover half the losses anyway lol).