Fraud Mgmt Filters (FMF) on or off? - PayPal Website Payments Pro

We've had a few fraudulent credit card transactions (stolen cards used for purchases, followed by chargeback later), so I'm looking at ways of reducing the risks.
Looking at the PayPal Website Payments Pro settings, I noticed the Fraud Mgmt Filters is set to off. Do most people have this off or on? Is there any benefit in having it on?

I'm not convinced the module does all the checks it should be doing, so looking for ways of beefing this up.

Thanks!

We have a similar set of filters from Authorize.net. We set some to get notifications but process normally so that we can manually take a look before the daily batch. Some we set to decline and notify. There may be one that we set to Authorize but not capture and notify us. It becomes a manual process but we have had a few orders that we chose to cancel internally and not ship due to triggering a fraud filter and no response from the 'alleged' customer.

Either way, if we ship the goods and receive a chargeback, we still lose (with a few exceptions).

Thank you!

I was hoping someone has used them with PayPal Website Payments Pro, to confirm that it works, does not cause problems, and can share the setting they use.

Anyone?

Anyone?

Yes, I have the filters turned on. I'm using their default standard filters. The only thing that has tripped a filter so far is an invalid card, and that doesn't require having the filters turned on anyway. But they must be catching something because our rate of fraud is dropped to pretty much zero in the year that Paypal has been doing our credit card processing. We used to get three or four attempts a month before that. We're vigilant about watching for the obvious problems, so we've never shipped anything and then had to deal with chargebacks. But since switching to Paypal, we've had no attempted fraud at all that we know of.

Thank you!

I've enabled it, and it seems to test ok.

However I can't find anywhere in my Paypal account where I can change the filter settings. Does anyone know where they are?

I noticed on check it does not check the CCV, which is something I definitely want, but can't find the setting.