Security News > 2021 > January > Integrating Fraud Data Into Your Workflow

In other words, for any fraud solution to be practical, it must be easily integrated into security and fraud operations.

Any fraud detection and prevention solution that purports to blend seamlessly into existing operations should, at a minimum, provide the three "R's":. Recommendation: No matter what type of data modeling, AI, machine learning, or analysis are happening behind the scenes, a good fraud detection and prevention solution needs to provide a clear and concise recommendation.

A good fraud detection and prevention solution needs to provide its data and recommendations in a way that an enterprise can easily access.

Enterprises should have confidence in the quality and fidelity of the data they are getting out of their fraud solution.

Further, the false negative rate should be low - a fraud solution isn't particularly good if it is missing a significant percentage of the fraud that is occurring.

If the solution cost $X and prevented $Y in fraud losses, Y should be a significant multiple of X. Otherwise, the fraud detection and prevention solution has not lived up to expectations.

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