4 Reasons Why Fraud Prevention Needs to Move Beyond Rules Based Engines - Feedzai

Commerce has evolved from its many different forms – from in-store purchases and mail order businesses to online market places and omni-channel commerce. Digital downloads and instant fulfillment services like Uber are transforming the way people consume goods and services. Online shopping has slowly eroded the traditional brick and mortar space of shopping malls. Consumers' retail trips in November and December, the two biggest shopping months out of the year, dropped from 35 billion visits in 2010 to 17.3 billion visits in 2013, according to a report from Cushman & Wakefield. In spite of rapid rise and adoption of modern commerce, fraud prevention is still based on archaic methods that are rigid, resource constrained and time consuming.