Using a wide range of tools and technologies, ecommerce fraud prevention companies are responsible for detecting fraudulent activities on online stores and put a stop to them. They help businesses avoid serious legal and financial problems that will negatively affect their revenue and brand reputation.
Predictive and behavioral models powered by machine learning are two of the biggest trends in ecommerce fraud prevention software solutions today. They make it faster and easier for users to process a wider variety of signals and indicators than the traditional manual review approach.
The best ecommerce fraud prevention solutions use artificial intelligence and machine learning to analyze customer behavior and spot incriminating behaviors like shopping patterns, fraudulent browsing patterns and more. They also integrate with external data sources to identify potential fraudsters quickly and efficiently.
Top E-commerce Fraud Prevention Companies: A Comprehensive Guide to Protecting Your Business
Device fingerprinting is another important ecommerce fraud prevention strategy that involves recording information about the device a shopper is using when making an order. This includes things like the device’s operating system, browser and language options installed.
Account takeover attacks are one of the most prevalent forms of fraud on ecommerce sites. They are a form of identity theft and can be devastating to your business and customers’ relationships.
Interception fraud is another common ecommerce fraud technique that involves purchasing goods from your website and providing legitimate shipping addresses that are then intercepted by the fraudster. This can be particularly problematic during the busy holiday season, when a lot of shoppers will place orders and expect their goods to arrive in time.