For several years now, online commerce has been experiencing impressive growth in both the B2C and B2B sectors. Due to the closure of physical stores, many consumers have turned to online shopping, leading to an exponential increase in order volumes and, consequently, a rise in potential fraud attempts. The importance of fraud prevention has significantly increased.
There is no single correct method for combating fraud. There are numerous ways to fraudulently obtain goods in a B2C or B2B shop. Just as diverse as these fraud patterns are, so too must be the methods used to detect and prevent them. It is not “one score” or “one ML model” that leads to success. Rather, it requires a finely tuned system of individual components, each covering a specific aspect of fraudulent activity. Only when combined do these components provide the necessary overall picture.
In the following articles, we present some methods and solutions for combating online fraud and preventing fraud, and offer insights into the latest fraud patterns.
