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Fraud is a major cost to businesses worldwide and it is on the rise. In it’s 2019 annual report, the Internet Crime Complaint Center (IC3) put a specific focus on methods such as elder fraught, credit card fraud and confidence/romance fraud, emphasizing the growing occurrence of intentional deception in cybercrime. Companies of all industries face the same challenge: The complex and constantly changing world of fraud detection. The Fraud Reduction Intelligence Platform (FRIP) market is mature and growing and the solutions in this space are quite diverse. Therefore, it comes as no surprise that many companies are unable to cope with the plethora of opportunities in this segment.
Fraud is a major cost to businesses worldwide and it is on the rise. In it’s 2019 annual report, the Internet Crime Complaint Center (IC3) put a specific focus on methods such as elder fraught, credit card fraud and confidence/romance fraud, emphasizing the growing occurrence of intentional deception in cybercrime. Companies of all industries face the same challenge: The complex and constantly changing world of fraud detection. The Fraud Reduction Intelligence Platform (FRIP) market is mature and growing and the solutions in this space are quite diverse. Therefore, it comes as no surprise that many companies are unable to cope with the plethora of opportunities in this segment.