Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
fraud protection
Tech and Marketing

Financial fraud protection: an overview of innovative solutions

13.06.2023
2 min read

Why fraud protection for e-commerce representatives is important

Over the past few years, experts say financial crimes have increased. According to a survey by Stripe, 62% of banks reported an increase in thefts. In addition to financial losses, banks have reputational losses. Due to the growing threats, protection against fraudsters is reaching a new level: there are solutions based on artificial intelligence.
One of the main factors increasing the number of financial frauds is the growth of e-commerce companies, where transactions are performed with insufficient security. In addition, the technological outlook allows fraudsters to improve their approach. For example, mass bot-attacks, where all hacking processes occur automatically, are gaining popularity.
These factors force financial institutions to increase investment in security mechanisms against attackers. Banks are using a variety of approaches. Cloud platforms allow for comprehensive customer data analysis and activity verification with every transaction. Thus, the software tracks any changes in behavior that may indicate security threats.
Another popular and practical approach is intelligent identification. Voice recognition and fingerprints demonstrate more data protection than standard verification methods.fraud protection toolsDespite its high functionality and productivity, the digital ecosystem has several vulnerabilities. For example, if one company in the entire service delivery chain fails to update its security protocols, everyone in the mechanism will be at risk from fraudsters. Paying attention to each link and regularly monitoring its security is important.
E-commerce companies are often the victims of financial crime. On the one hand, these companies want to provide customers with a high level of service, where transactions should take only a few seconds. But on the other hand, the increase in speed involves simplifying the stages of identification. In turn, it opens vast opportunities for intruders. Therefore, experts advise keeping essential mechanisms such as the two-factor check and CAPTCHA.
AI and machine learning technologies are essential tools for preventing fraud. Such solutions analyze and remember massive amounts of information about customer behavior. The computer sends this request for additional verification if the transaction process exceeds standard scenarios. A similar approach is taken when there is an increase in activity in the system that could indicate an attempted theft of data or funds. The client automatically receives a transaction confirmation request. No further action is taken without his consent.
Many financial institutions are developing their AI-based fraud protection solutions. In this way, companies prevent risks and increase consumer confidence.

Tags: Tech and Marketing
0
Previous Post International Airlines Group buys Spain's Air Europa Next Post ADNOC Gas sold out within hours of the start of trading

You Might Also Like

Kubernetes
Tech and Marketing
What tasks the Kubernetes platform developed by Google solves
04.05.2022
Artificial Intelligence
Tech and Marketing
Artificial Intelligence as a new stage in the development of computers
03.06.2022
Implementing a CRM system
Tech and Marketing
Implementing a CRM system: what you need to consider when developing a custom solution
11.07.2022
embedded finance-2
Tech and Marketing
Embedded finance as an ideal tool for the B2B sector
17.11.2022
social media reputation
Tech and Marketing
Social media reputation: how to neutralise the negativity
15.08.2023
promoting a startup
Tech and Marketing
How to make startup promotion efficient and cost-effective
23.07.2023

Recent Posts

  • 1investment in Turkey's steel industry
    Yıldız increases investment in the Turkish steel industry
    20.09.2023
  • 2Abu Dhabi Exchange
    The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
    18.09.2023
  • 3mobile marketing
    How mobile marketing helps to retain existing customers and attract new ones
    16.09.2023
  • 4E-commerce company Rakuten
    Japan’s Rakuten intends to raise funds by issuing shares
    14.09.2023
  • 5coal mining
    Coal mining in India has increased by more than 22% in 5 years
    12.09.2023

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

investment in Turkey's steel industry
Yıldız increases investment in the Turkish steel industry
20.09.2023
Abu Dhabi Exchange
The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
18.09.2023
mobile marketing
How mobile marketing helps to retain existing customers and attract new ones
16.09.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023
  • Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics