Retail fraudsters may be more aggressive and sophisticated these days, but so is fraud detection and prevention technology. Unfortunately, many retailers continue to miss out by falsely identifying legitimate purchases as fraudulent.
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Fraudulent transactions are on the up, but with more information and tools at their disposal, online and multichannel retailers need to get up to speed if they’re going to stem their fraud losses.
The convenience online retail offers consumers is undeniable, but for the business owner it presents a new set of challenges. Not least of which is the increasing occurrence of digital fraud.
Better understanding of customer data combined with advancements in machine learning can help businesses remain agile in the face of ever-evolving cyber threats.
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