Identity fraud attacks are surging the Asia-Pacific region. But, as Chargebacks911® Founder and CEO Monica Eaton explains in a new feature for Entrepreneur, AI might present a solution to the problem.
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“To put it plainly, ecommerce merchants who do business with customers in the Asia-Pacific market may have to accept a high number of fraud attempts — and the resulting elevated chargeback rates — as a cost of doing business,” Monica explains in the piece. But, as she goes on to explain, merchants do have some options to help counter the rising tide of fraud.
“Merchants can deploy AI tools at checkout to monitor transactions and flag suspicious activities well before they devolve into full-blown payment disputes, for example. AI's capacity for analyzing vast amounts of data in real-time can help pinpoint behaviors associated with the fraud. Behavioral analytics, which use a buyer's past purchase habits to distinguish between normal and outlier activity, can likewise be used to curb related risks, like fraud networks or money laundering.”
