Due to COVID-19 pandemic the great part of activity in Europe and the USA moved to online mode. At the same time rise in online shopping led to increase in number of frauds and identity thefts. Scammers revealed more deep preparation for such activities. But what are the possible ways to combat such a huge fraud wave and check fraud? Fortunately enough there are specialized companies that provide risk management software and fraud detection system.
Identity thefts and frauds are connected with unauthorized use of personal information, namely:
- details of credit cards;
- numbers of social security;
- phone numbers;
- emails.
Using this data scammer can open any account of the person, make fraudulent activities, start chargeback claims.
How to check fraud? The great variety of companies created risk management software for detection and prevention of frauds like the next anti-fraud solution:
- monitoring of transaction in a real-time mode;
- websites scanning for abnormal activities;
- stolen credentials tracking;
- anti-fraud transactions blocking;
- fake accounts closing.
These anti-fraud solutions represent the first steps toward safe global web, but they do not offer the full protection because of a wide variety of frauds and thefts.
As a next step special risk management software appears, which provide more deep and thoroughfull service to check fraud. For example, Covery provides its clients with possibility to check fraud via:
- Trustchain.
- Device fingerprinting.
- Machine Learning and Rule Scenarios.
- Automation of aml and kyc.
- Advanced Reporting and In-Depth Analysis.
All these modern technologies are really helpful to check fraud: chargeback prevention, cancelling of bot attacks and fraudulent traffic, protection from synthetic identities and account takeovers, frauds with credit cards and CNP.
Therefore, if your business is actively operating online, think about your safety twice and try protection from the fraud detection system like Covery. This simple step will greatly help you to avoid unnecessary negative experience and check fraud.
