Applying Data Science to Fraud Prevention

4 Eighty thousand Kindle users. Sixty-five million Tumblr users. What do they have in common? Both groups had their login credentials breached, courtesy of hackers. While these attacks didn’t directly target financial accounts,the information contained in these breaches is likely being sold on the Dark Web and being used to build a larger profile that will grant fraudsters access to sensitive financial accounts. Given the number of accounts potentially at stake from just these breaches, it’s no wonder that financial organizations and retailers are putting significant resources into uncovering aberrations in user behavior in order to stay ahead of the game. Fraud prevention solutions are critical to that success and those who are able to accurately identify fraud patterns and develop systems to accurately predict and mitigate them are in the driver’s seat. [Read More]

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