Web Fraud Detection – What is it and how it Works?

Web fraud detection

Today the Internet has become a very crucial part of this modern generation. We can’t think of a single moment without the internet. We run Facebook, Twitter, YouTube videos and tons of other stuff. There was a day when we could only use the internet through our PC. But now smartphone has paved a way of tremendous advantages. We can surf the web via computer and smartphones quite quickly. Nowadays, The Web can not only be used for the personal use, but also for the business purposes too. What are the things that can increase your safety besides the cyber security tips we suppose you’ve already following? So, web fraud detection can ensure the higher security for web apps.

What is Web Fraud?

In the meantime, web threats have been increased. Hackers are targeting both PC and smartphones to steal all the necessary data that can ruin our private life or even a business. In the course of business, we run e-Commerce through the web. E-Commerce is the section where we can sell or buy stuff online, and we can also make online payments. The bad news is, Hackers are trying to penetrate the e-commerce system to perform web fraud. You might not know that someone is following you or maybe will steal your online payment. This is what you can call web fraud.

Now, almost every average citizen in U.S purchases things from online marketplaces. Therefore, they have their credit card or bank cards to make a successful purchase online. Cyber criminals are also trying to steal those cards information and run away. Web fraud detection system has been created to reduce those web scams. The number of web fraud is increasing each year gradually. The noticeable losses of E-commerce revenue are the clear prove of it.

How to Reduce Web Fraud?

Web fraud activities are dangerous as we know. The number of fraud is increasing each year. Cyber criminals are stealing millions of money. Some payment card holders are getting harassed by the cyber criminals. Those hackers are taking control over the payments cards and making illegal transactions through them. However, there are some sustainable steps we can take to decrease the threat. These steps we can follow:

Do not buy anything from any untrusted online store. Get a clear concept about the online site first. Learn everything you can about the internet security tips, and of course be sure that you follow the recommended!

Before making the payment, see whether the e-Commerce site is SSL secured or not. If the site is not secure enough, do not make any further deal with them. Well, you might get the product in your hand on time, but your card data will not be safe. Who knows?

If the online store is located in your area, then go for cash on delivery or bank transfer for the secured transaction.

Web fraud is unstoppable. So, being careful is the only option you can choose. There is a saying, Prevention is better than cure. At least we can prevent ourselves from web fraud.

Web fraud detection system is the smartest thing you can use for your e-commerce site. It will be greater good for you and your customers both.

Nowadays, web fraud detection system has become the key role player to detect and minimize web fraud activities. It will be wise option, if you get web fraud detector for your e-commerce business. We will talk about this now. We will see what exactly web fraud detection system is? How it works? And who should get this benefit?

What is Web Fraud Detection?

As we know, the web fraud detection system is invented to stop web-based payment fraud and other relevant cybercrimes. E-commerce organizations like online shop, financial company who accepts payment cards through CNP (card not present) system or back those payments to the customers, can use the web fraud detection system software. Web fraud detection system typically works on focusing account management, and account takeover, fraud account detection and fraud attempts.

Payment fraud detection is also a part of the web fraud detection systems. Payment fraud intelligence can detect whether the online payments are being made with stolen cards or not. However, some vendors are offering malware detection, fraud detection and information services. Those vendors are providing two types of fraud detection systems like on-premises software product and cloud-based software as a service also known as SaaS. These tools can detect any threats and can scan online transactions made via the web and mobile devices.

How it Works?

Web fraud detection works to prevent all kind of possible threats and can scan all the transaction, user ID, user behavior, user location and authentication. After the scan, if the system will compare the collected data attributes. When the data is valid, then the system will allow it or else it will stop the invalid or guilty transaction. The fraud detector software will be giving an alert if it finds something unusual matters related to the transaction.

The fraud detection tools developers include one kind of powerful predictive scoring model into the software. The system will do all these automatically.

On-Premises web detection system requires more physical support for installation and maintenance. On the other hand, SaaS or cloud-based software needs less physical support and hosted by a particular service provider to perform any further administrative work.

Who needs this Service?

All kind of business or financial organizations can use this service. It includes the bank, financial institutions, e-commerce business, social networking sites, human resource and payroll service, etc. Any other online company that allows you to use payment cards can also use this fraud detection tools.

In that case, on-premises software can be available at an one-time price. You need to pay a one-time charge to get this software to install and run properly. SaaS or cloud-based software costs a certain amount of monthly fees which you need to pay according to the scale of the detection process.

Finally, this is a fast-paced article which will give you a formal idea of web fraud detection services. So, the web fraud detection system is necessary for you if you are running an online-based business. After all, it will be a great help and can save your transaction from cyber criminals.


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