Why AI is the future of fraud detection

The accelerated growth in ecommerce and online marketplaces has led to a surge in fraudulent behavior online perpetrated by bots and bad actors alike. A strategic and effective approach to online fraud detection will be needed in order to tackle increasingly sophisticated threats to online retailers. These market shifts come at a time of significant regulatory change. Across the globe, new legislation is coming into force that alters the balance of responsibility in fraud prevention between users, brands, and the platforms that promote them digitally. For example, the EU Digital Services Act and US Shop Safe Act will require online platforms to take greater responsibility for the content on their websites, a responsibility that was traditionally the domain of brands and users to monitor and report.