The Impact of Machine Learning on Fraud Detection

With all of the information about machine learning, how does an organization cut through the noise and identify the best solution for payment fraud detection?

It has become almost numbing to see a statistic like this one.

The costs associated with payment fraud have been at the forefront of the payments industry for the past few years and unfortunately, this is unlikely to change.

As criminals find faster ways to commit fraud, it is important for fraud detection tools and technologies to evolve and innovate at a quicker pace.

The Association of Certified Fraud Examiners (ACFE) estimates that the typical organization loses 5% of revenues to fraud in a year.