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Meet Abi
Discover Market Info
Manage Risk
Find Suppliers
Assess Category Performance
Source Market Indices
Abi will answer all Fraud Prevention Systems related
procurement queries with relevant data points
Abi - AI powered digital procurement assistant
Get up-to-date market and supplier info on Fraud Prevention Systems to help you build
Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices
Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices
Assess Supplier Risk based on key risk and compliance parameters
Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.
Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus
Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography
Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings
Benchmark your category performance against peers and the market
Measure category performance on 15 key parameters across cost, risk and strategy KPIs
Get information on key factors affecting your supply
Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics
Category Intelligence on Fraud Prevention Systems covers the following
Total value netted by fraudsters was estimated at $16.8 billion in the US
With regard to online fraud, CNP fraud accounted for 81 percent against POS fraud
With lockdown regulations amidst the COVID-19 pandemic, people are increasingly turning to online transactions. The urban population, in particular, are digitally influenced to purchase any financial service or product, which implies they utilize banking applications or browse various websites to purchase financial products.
This has triggered a sudden spike in the number of fake websites, which resemble banking apps, shops and home delivery services, trapping customers to do digital transactions. The rising use of the Internet of Things (IoT) and new IoT-enabled devices in the marketplace is becoming a crucial aspect of customer lifestyle and industrial operations.
Connected devices provide convenience and are one of the reasons, which offers criminals the opportunity to break into the systems. The connected devices gather, transfer, and keep loads of consumer data, inviting privacy risks.
Ad and ATM frauds are two major (and common) IoT frauds in the IoT world. The rise in fraud with cybercriminals targeting customers with fake activations of credit and debit cards, free COVID-19 tests, online bookings, and job offers have led to the adoption of fraud prevention systems.
The banking, financial services and insurance (BFSI) industry is one of the early adopters of technology to avoid risks. Due to large-scale digital data transactions, financial institutions are exposed to a lot of vulnerability.
The rising digital banking process has influenced financial institutions to safeguard transactions from fraud. At present, financial institutions are prioritizing financial risk mitigation as well as fraud prevention in real-time. Fraud prevention techniques are changing with the onset of pattern recognition.
Machine learning (ML) has offered a major impetus to artificial intelligence (AI) in defending any system as ML shields companies from internal fraud and spot any deformities in people who may leak data. As such, the surging adoption of AI and ML will augur well for the fraud detection industry.
With the adoption of EMV (Europay, MasterCard, and Visa) cards, identity frauds have gradually switched from offline to online. Also, the complexity of fraud has increased, realizing the emergence of fraud accounts. Fraudsters are becoming savvier in their attacks.
The growing customer expectations for round-the-clock digital access have compelled numerous companies, such as financial institutions and vendors, to reject stricter manual application review procedures to open accounts faster thus leaving more room for cyber-crimes.
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