Detecting and Preventing Fraud
Marketplace Fraud is a big deal.
Marketplaces have to walk a fine line between being easy to use and protecting their communities.
2%
of all user generated content is fradulent
$392M
in losses from consumers shopping online in 2021
60%
the amount users reduced their spending after an ATO attack
Impact of Fraud on Business & Users
The impact of fraud globally in 2022 and the projected value in 2023:
Fraud Schemes That Impact Businesses
Fraudsters don’t wake up thinking about what type of fraud to use. They identify weaknesses in a business and deploy fraud vectors for the fastest impact.
First-Party Fraud
First-party fraud is when the actual account holder or identity owner is also the bad actor committing the fraud.
Read more about how real-time monitoring can stop first-party fraud:
New Account Fraud - Account owner is involved in the fraud scheme.
Money Mule - Account Owner is being controlled by a bad actor without knowledge.
Bust Out Fraud - Many accounts linked to the same account in a short period of time.
ACH - Fraudulent transfer of funds through the ACH Network using account details.
Account Takeover - Identity theft where fraudsters use compromised credentials to log in to a service.
Payments - Unauthorized purchases made with stolen account information.
Fake Accounts - Abuse of promotional offers by businesses that attract fake and spoofed accounts from fraudsters.
Third-Party Fraud
Third-party fraud is fraud committed against organization or merchant by an unrelated or unknown third-party.
Being able to stop fraud requires real-time monitoring of data and the ability to modify rules instantly. See how Unit21 can help:
Stop Bad Actors and
Empower Fraud Professionals
Your fraud professionals need a flexible infrastructure like Unit21 for monitoring users in real-time to identify suspicious activity and prevent fraud losses.
Monitoring Users in Real Time
Ingest any type of data into a central location to streamline investigations
Get immediate notifications & block suspicious transactions before they are authorized
Visualize all your ingested user data in one place for 360 degree view of user activities
Reduce False Positives
Create, test & launch new rules within minutes
Quickly iterate on & test rules without vendor assistance
Machine Learning to aid alert prioritization, reduce investigation time, and prevent backlogs
Investigations and Recovery
Aggregate data dashboard with visualizations for monitoring
Instantly modify alerts and rules as fraud vectors are detected
Review transactional data, alerts and users to conduct fraud investigations to aid in loss recovery
You're in Good Company.
Trusted by millions of users every day, Unit21 powers companies and organizations of all sizes all around the world.
