WooPayments is built in partnership with Stripe and uses their fraud prevention system, called Radar. It provides real-time fraud detection for all orders placed via WooPayments and will block payments if Radar determines that they’re fraudulent.
WooPayments also has its own fraud protection settings, which can be used to block orders that meet certain criteria. You can of course customize the detection rules to suit the needs of your particular store.
However, keep in mind that no fraud prevention system is perfect. Although it is rare, sometimes merchants may be affected by card testing attacks. You can learn more about card testing, and how to respond to such attacks, in this document.
As WooPayments continues to enhance the merchant experience, we will be looking to add more fraud detection functionality for stores using our plugin. Please feel free to submit feedback or other ideas on our Ideas Board.