Preventing Payments from Going to Fraudsters: Leveraging AI to Outsmart Fraudsters

Staying ahead of fraudsters is key to mitigating revenue loss, reputation harm, and customer abandonment. Unfortunately, human intelligence alone is no longer adequate to fight today’s sophisticated fraud schemes – especially when fraudsters have access to real credentials. The key to fraud prevention is to fight fire with fire and use AI to fight against AI that is being used to commit fraud. AI-based fraud detection offers real-time data analysis of fraud patterns, and the adaptability necessary to protect against account takeover, fraudulent account opening, and fraudulent payments. This is accomplished by leveraging massive data collection, evaluating fraud patterns, and using these findings to drive decisions.