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Fraud Detection and Prevention Market ? By Technology Marketing Articles | July 9 Germaine Pratt Jersey , 2015
Organizations and enterprises face threat from fraud-related activities and violations due to the massive amount of data they store and use. The complexity in tracking and monitoring transactions incr...


Organizations and enterprises face threat from fraud-related activities and violations due to the massive amount of data they store and use. The complexity in tracking and monitoring transactions increases as the size of the organization increases. Meanwhile, Fraudsters try and penetrate through the framework of organization for their own benefit. Counter measures to control such illegal activities are called Fraud Detection and Prevention.


The market, growing at a CAGR of 15.6% over the period of 2015-2020, is now taken over by innovations and new automated software in place of the traditional manual methods of tracking and monitoring trends in the data. These technological trends have given rise to a new breed of solutions including Big Data techniques of predictive analytics, customer analytics Drew Sample Jersey , and modern visualization tools. Additionally the authentication technology has also come a long way since the times of the SFA to the much stronger authentication of MFA.


Today, though the technology to track and monitor online activities has come to a stage of maturity, algorithms using Artificial Intelligence (AI) have to be designed and implemented for a complete and exhaustive monitoring to not only record these anomalous activities, but also identify the “false positives” and bring it down to an acceptable limit. Behavioural analytics is employed to understand customer behaviour and pick out the ones that show a deviation from the normal behaviour.