Balanced is burying the lede on this, the final table of correlations between payment information signal failures and incidence of fraud is pretty fascinating.
Most of the time that kind of tech isn't even necessary. The types of criminals most online stores deal with are not sophisticated; they're just people that paid $1/number for a list of phished credit cards on a black market forum who are going to enter them one-by-one on a few websites to see which haven't been reported stolen yet.