Payment Fraud Detection and Prevention: Here's All To Know
Key takeaways: With AI technology, payment fraud and fraud prevention have become more complex and sophisticated. Both financial data owners and businesses that accept illegal payments are directly affected by payment fraud. The best payment fraud prevention strategy requires careful risk assessment, planning, implementation, incident response preparation, and documentation. What is payment fraud? Payment fraud is the unauthorized use of an individual’s financial information to conduct illegal transactions. The overall strategy is to deceive individuals…
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