Fraud Monitoring

 What is Fraud Monitoring

So, how does one really know his account where he/she be stored their life’s payment has been hacked? The moment you realize that your bank account has suddenly been emptied of its funds, or the moment you log into that account of yours and realize that you have been deluded into handing over all the money in your bank account to someone else, or maybe the moment you check your email and see 1000s of emails from your customers screaming at you for not being able to get hold of you. Right!

While this may seem to be very rare, it does happen, and I recommend you take measures to protect yourself from getting hacked! Fraud is one of the most important aspects of customer service. Once you sign up for an email verification service, you will be alerted when new potential spammer associates with your domain, and if they try to login to your panel through proxy servers, etc.

Did you know that email fraud was a problem? Did you know that social media fraud is a huge threat to your business? Did you know there were solutions to help stop the onslaught of fraud? I know, it’s shocking. But what’s even more shocking are the metrics showing how much money businesses are losing because they don’t understand how much fraud is costing them.

Fraud monitoring is a way to determine whether a certain customer is involved in fraudulent activities. It’s also known as customer surveillance. There are different ways how this is done, such as reviewing profile activity, analyzing payment details and transaction histories, or social network accounts. There are many reasons why you need to monitor your fraud rates. Fraudulent transactions can have a direct impact on your revenue. The first step in protecting yourself is to perform a baseline analysis of your site traffic and fraud rates. Here are some quick tips for getting started with monitoring your fraudulent traffic levels.

Fraud Detecting

Detecting fraud is an important way to protect our clients from illegal actors. Our fraud monitoring system protects you from fraudulent activity. We monitor all your account activity so that any unusual behavior is picked up. Don’t worry, we will only contact you if something doesn’t look right.

Many of us will be thinking that fraud is nearly impossible to commit online. Yet according to the USA eCrime survey, 55% of online retailers say they have had some level of fraud occur in their business. You can do several things to reduce fraud, such as validating the phone numbers of your customers or requiring a copy of their government-issued identification, but these solutions only work in some cases. Fortunately, there are some services that can help you protect yourself against fraud with little effort and money.

Let us focus on Fraud Detection, Did you know there’s a new way to detect fraud in your company? I’m talking about using artificial intelligence (AI) which is a branch of computer science that aims to create intelligent machines. AI is becoming an important part of any business.

Fraud Prevention

Fraud detection is a great use case for the artificial intelligence (AI) technology. It’s a classic pattern recognition problem, and AI is perfectly suited for this. An AI algorithm analyzes each customer transaction to find patterns in their behavior and profile. Once the system determines that cashback fraud is being performed by a user, it blocks that user from making any further purchases. AI can help tackle and solve many of the problems businesses face today. The use of AI brings automation, which is valuable in freeing up time. With AI, computers can learn and make decisions on their own. This process can help businesses run more smoothly and be more profitable than before.

We know that it’s really important to protect our online business. If you are running an online store, you will want to prevent fraud. In this article, I will discuss some applications of AI in fraud detection and prevention.

Now, I will give you 3 services provided by FutureAnalytica that allow you to monitor and prevent abusive orders and fraudulent activity on your website.

Advance Financial Monitoring-

There are some frauds that involve fake phone calls, fake insurance claims, fake information about credit card transactions, etc. All these represent great risks and problems for any government and business. So here we provide specialized artificial intelligence (AI) analysis techniques that discover frauds within them. It tracks down the difference and misuse of employee expenses, you need real-time monitoring of all financial transactions from various sources. Futureanalytica’s Artificial Intelligence solution aids in advanced financial monitoring that reduces false positives and uncovers complex hidden frauds through AI.

Real Time Alerts

Real-time financial data and analysis have never been more valuable. Futureanalytica has made it easy for you to harness the power of big data analytics to monitor your account 24/7. We use a combination of artificial intelligence and real-time data feeds which means you don’t need to sift through masses of the information yourself.

Scam Alerts

Scam, Fraud, and deception have been in business for ages. But with the advancement in technology experts have predicted that it will rise even further and become a major problem for businesses. FutureAnalytica uses advanced financial monitoring that is based on deep learning techniques that are used to uncover hidden complex patterns using advanced artificial intelligence (AI) algorithms even on large data. This not only protects you from scams but makes you more effective in your marketing strategies.

Conclusion

Artificial Intelligence can be used very well to improve fraud detection and prevention, which will not only ensures our customers but also benefits business by getting the best advanced AI solution to get their work done. It will help in improving the quality of business and will lead to a promising future for the business.

Hoping this article was meaningful and gives you insights on how FutureAnalytica can be a revolution in business leading them to profit.