Fraud Detection and Prevention: A Data Analytics Approach
Businesses around the world lose trillions of dollars to fraud every year. The upsurge of transactions and the advent of new payment channels have also resulted in a steep ascent of fraud rates and fraud losses. Enterprises are stuck in a Catch-22. They lose large chunks of revenue due to the lack of effective fraud detection systems. At the same time, overprotective fraud solutions drive customers away.
This whitepaper analyzes the present day fraud landscape and provides a step-by-step guide on how to build a prevention plan for both known and unknown fraud attacks. It also demonstrates how to setup an effective, self-learning and self-adjusting fraud detection system using the WSO2 Analytics platform.