Fraud protection efforts target fake corporate identities online and offline

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According to the Federal Trade Commission, U.S. consumers reported losing more than $5.8 billion to fraud in 2021, an increase of 70% from the previous year. As anyone who’s gotten a fraud alert from their credit card company knows, tech has long played a role in stopping fraudulent transactions. Now, though, machine learning is helping retailers and carriers offer consumers more confidence that the products and services being offered to them are legitimate.

A jungle out there

In the first place, many consumers go to find products; Amazon has a central role to play in keeping the purchase process as safe and reliable as possible. And as with so much about the company, it does so on a staggering scale. According to a brand protection report released in June, the company notes it has over 12,000 people working on brand protection efforts. That includes a dedicated Counterfeit Crimes Unit that…

Read full article at www.zdnet.com