-
Technology
-
Industry
-
Solutions
-
- ASSET MANAGEMENT
- CUSTOMER EXPERIENCE MANAGEMENT
- CYBER SECURITY
- DATA CENTER
- DOCUMENT MANAGEMENT
- ELECTRONIC DATA INTERCHANGE
- ENTERPRISE DATA MANAGEMENT
- ENTERPRISE RESOURCE PLANNING
- ENTERPRISE RISK MANAGEMENT
- ENTERPRISE-GRADE WEB DATA SOLUTIONS
- FACILITY MANAGEMENT
- FIELD SERVICE
- IDENTITY AND ACCESS MANAGEMENT
- INFRASTRUCTURE
- IT SERVICE MANAGEMENT
- MANAGED IT SERVICES
- PAYMENT AND CARD
- PROJECT MANAGEMENT
- SOFTWARE TESTING
- STORAGE
- VIDEO SOLUTIONS
- WORKFLOW
-
-
Platforms
-
Functions
- Leadership Perspectives
- Innovation Insights
- Research
- Magazines
- News
- CXO Awards

As consumers are increasingly uploading their personal information online and carrying out business transactions via computers and smart-phones, fraud detection has become very crucial in today’s digital environment. The sole purpose of fraud detection is to protect online assets of enterprises and consumers. From accounts and transactions to batch analysis of user activity, fraud detection examines the patterns and behavior of the information being transferred through background server-based processes. Nowadays, enterprises tend to rely on fraud detection for information security and mitigating information theft, but every defense solution has its weak points. It is essential that enterprises look at four crucial aspects of fraud detection before its implementation. First and foremost is real-time fraud detection. For an enterprise fraud detection to be successful, the solution must possess the ability to process, analyze, and evaluate transactions, authorizations and decline decisions before fund movements in real-time. Without that, enterprises might as well open windows for cybercriminals to get away. Second on the lookup list is effective data analytics. This process plays a vital role in sniffing out suspicious consumer behaviors and fraudulent patterns. It is imperative that the data analytics output includes a consumer score that represents a consumer’s actual behavior and a transaction fraud score, to determine the fraudulent nature of a transaction.