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Rony_Sklar - PeerSpot reviewer
Community Manager at PeerSpot (formerly IT Central Station)
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How can a business be best prepared to deal with online fraud?

Online fraud is continually becoming more sophisticated. What can businesses do to protect themselves against new fraud techniques? 

What tools can be used to help with fraud detection and prevention?

How can businesses stay informed about new online fraud threats?

PeerSpot user
1 Answer
Tjeerd Saijoen - PeerSpot reviewer
CEO at Rufusforyou
Top 5Leaderboard
31 May 21

This is a difficult question, you have a lot of different methods, like fake web sites with online payments, order staff but don't deliver. Follow transactions and check for user ID's passwords etc. Gartner recommend the following tools Online Fraud Detection Software Reviews 2021 | Gartner Peer Insights our cyber center for security and performance deliver a SaaS solution based on AI and unusual behavior. Let me know a little bit more specific what you need. 


Find out what your peers are saying about NICE, ThreatMetrix, Forter and others in Fraud Detection and Prevention. Updated: September 2022.
635,162 professionals have used our research since 2012.
Related Questions
Evgeny Belenky - PeerSpot reviewer
Director of Community at PeerSpot (formerly IT Central Station)
Nov 29, 2021
What is it and how can you practically use it in your organization? 
See 1 answer
Shibu Babuchandran - PeerSpot reviewer
Regional Manager/ Service Delivery Manager at ASPL INFO Services
29 November 21
Hi @Evgeny Belenky ​, Cognitive security can be interpreted as the application of AI technologies patterned on human thought processes to detect threats and protect physical and digital systems. Like other cognitive computing applications, self-learning security systems use data mining, pattern recognition and natural language processing to simulate the human brain, albeit in a high-powered computer model. Such automated security systems that are designed to solve problems without requiring human resources. Machine learning algorithms make it possible for cognitive systems to constantly mine data for significant information and acquire knowledge through advanced analytics. By continually refining methods and processes, the systems learn to anticipate threats and generate proactive solutions. The ability to process and analyze huge volumes of structured and unstructured data means that cognitive security systems can identify connections among data points and trends that would be impossible for a human to detect. Cognitive security may be particularly helpful as a way to prevent cyberattacks that manipulate human perception. Such attacks, sometimes referred to as cognitive hacking, are designed to affect people's behaviors in a way that serves the attacker's purpose. Cognitive security efforts in this area include non-technical approaches to making individuals less vulnerable to manipulation as well as technical solutions designed to detect misleading data and disinformation and prevent its dissemination.
Rony_Sklar - PeerSpot reviewer
Community Manager at PeerSpot (formerly IT Central Station)
Apr 01, 2021
In your experience, what fraud detection tool is the most effective? 
See 2 answers
User at netready
19 March 21
FICO, Lexis Nexis Threath Metrix. 
User at First Republic Bank
01 April 21
It depends on what product/service you are trying to detect fraud on. Generally speaking the best approach is a layered one that utilizes information from various data points to asses the fraud risk and alert accordingly.
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