Security News > 2022 > January > Fraud detection is great, but you also need prevention
Fraud detection is simply a necessity nowadays, but it's only the beginning of what organizations need to do to protect themselves and their users.
Knowing what's fraud is only half the battle: you need to be able to catch it in time to prevent the fraud from succeeding.
A lot of the complexity of fraud detection comes from the fact that most fraud solutions focus solely on bad actors.
A new approach which is becoming more common is adding a stage before the fraud detection phase: positive validation.
The more fraud prevention professionals work together, and the more ways they find to share insights, trends, experiences, what works, and to pool knowledge and trust in new ways, the stronger the entire fraud fighting community becomes.
Fraud is all about ROI. The more difficult companies make it for fraudsters to succeed in their theft, the less lucrative fraud becomes.