Shield Yourself Against Payment Frauds Using AI/ML Models
Preventing, detecting, and eliminating fraud is one of the major focus areas of the e-commerce and banking industries at present. Banks and other financial institutions are investing in new ways to meet the challenge of preventing fraud. Firms are now embracing Artificial Intelligence (#AI) and Machine Learning (#ML) technology to detect, investigate, and reduce money laundering and transaction fraud effectively and efficiently. AI-based fraud prevention is very effective at reducing chargebacks, fake accounts, spam, account takeovers and so on., says Payel Ghosh, Associate Principal Consultant, Cigniti Technologies.