5 benefits of applying machine learning to your fraud solution The Paypers

Many elements contribute to the expanding fraud problem that online companies must contend with. These include: new criminal tactics, prolific growth of Internet-able and commerce capable devices, payment platforms offering an array of payment types, and the growing scale of data breaches globally. At the forefront of this escalation is online fraud. Online fraud has realized a rapid rise as consumers have migrated towards online for their purchasing needs and, subsequently, fraudsters have followed the money. And because fraudsters don't comply to any set rules, their tactics are aimed at exploiting opportunities for the least amount of effort with the greatest gains.