Fraud Detection Software

TrustRadius Top Rated for 2023

Top Rated Products

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1
Riskified

Riskified, headquartered in Tel Aviv, helps businesses to realize the potential of eCommerce by making it safe, accessible, and frictionless. Their eponymous platform allows online merchants to create trusted relationships with their consumers. Leveraging machine learning that benefits…

2
Midigator, an Equifax Company

Midigator provides a chargeback management approach with the goal of protecting the user's revenue in the most efficient way possible, displacing time-consuming and error-prone processes associated with chargebacks. Midigator's strategy includes: - Preventing chargebacks - Fighting…

3
D&B Finance Analytics

D&B Finance Analytics is a global credit-to-cash solution that provides Dun & Bradstreet data, analytics, and technology to help improve cash flow, increase operational efficiency, and mitigate risk. This AI-driven solution comprises two platforms – D&B Credit Intelligence…

All Products

(51-75 of 245)

51
TrafficGuard
0 reviews

TrafficGuard is fraud detection software that provides comprehensive digital advertising fraud protection for brands, agencies and ad networks. TrafficGuard is designed to detect, mitigate and report on ad fraud before it hits the organization's digital advertising budget. Three…

52
Proofpoint Domain Discover

Proofpoint Domain Discover is a suite of products supplying brand compliance of digital properties that helps locate fraudulent domains, social media accounts, and other external fraudulent , misused, or spoofed brand social media accounts, apps, or other unauthorized use of digital…

53
Ribbon FraudProtect

Ribbon Communications offers FraudProtect, a fraud detection platform for detecting and blocking fraudulent calls and robocalls.

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54
Linkurious Enterprise

Linkurious helps government agencies and Global 2000 companies detect and investigate sophisticated threats faster. Data-driven investigators use the Linkurious Enterprise graph intelligence platform to find insights otherwise hidden in complex connected data. Organizations such…

55
Gurucul Fraud Analytics

Security analytics specialist Gurucul offers Gurucul Fraud Analytis, a prepackaged security app designed to root out fraud for financial entities, healthcare, or in retail transactions.

56
Mavenir Fraud and Security Suite

Mavenir’s Network Fraud and Security Suite protects the network in real-time with predictive analytics and machine learning even as new vulnerabilities arise.

57
ThreatMark
0 reviews

ThreatMark provides fraud prevention solutions. The vendor states major banks use ThreatMark's AI-powered technology to build secured banking experiences by validating their legitimate users across all digital channels, all while keeping the fraudsters away. ThreatMark aims to…

58
CNSI ClaimsSure

CNSI headquartered in Rockville offers ClaimsSure, a Medicare / Medicaid oriented billing fraud detection application.

59
AppGate Total Fraud Protection

AppGate Total Fraud Protection replaces the former Cyxtera Digital Threat Protection product. AppGate is formerly the security division of Cyxtera, which was spun off as a separate company September 2019.

60
Focal by Mozn
0 reviews

Anti-Money Laundering compliance shouldn't be complicated. Mozn provides AML compliance solutions through a simple API and platform for screening and monitoring customers. Focal, powered by Mozn, is an AML Compliance and anti-fraud product for screening and monitoring customers, and…

61
Salv
0 reviews

Salv's AML Platform helps to detect and prevent financial crime and fraud. It assures that PEP and sanctions screening, customer and transaction monitoring, and customer risk scoring are in good hands. AML Platform ✅ Understand and measure AML/CFT risks ✅ Detect and prevent fraud,…

62
Sphonic
0 reviews

Sphonic, now part of Signicat, an Orchestration Platform to support compliance and fraud management in the digital economy. With access to a marketplace of over 85 fraud, risk and identity providers accessed via a single API and exposed via a proprietorial workflow engine, an organisation…

63
Shift Healthcare Improper Payment Detection

Designed to go beyond traditional approaches to fighting fraud, waste, and abuse (FWA), Improper Payment Detection from Shift uses AI to flag and prioritize cases which are likely to deliver maximum ROI, while providing detailed investigative guidance and explanation for its decisions.…

64
Shift Financial Crime Detection

World governments require insurance companies to know who is using their services, and to prevent identified bad actors from using insurance services to launder money. Using Shift Financial Crime Detection, insurers can resolve bad actors' entities using AI, while at the same time…

65
Pi by Paytm
0 reviews

Pi from Paytm is a fraud fighting software specifically tailored for growth-stage fintechs. Pi connects data across the business ecosystem and streamlines it into one central dashboard for optimum threat visibility. The solution helps users to make risk decisions faster, adjust…

66
Arkose Labs
0 reviews

Arkose Labs is a fraud prevention and detection solution designed for retail, gaming, and fin-tech. Arkose Labs detects and mitigates online fraud by analyzing user data to determine the context, behavior, and past reputation of requests. Then it either passes traffic onto the enterprise…

67
Corizance - Connected Risk Intelligence

Corizance is a risk management platform that helps build business resilience and prevent disruptions with the help of AI and built-in analytics. Corizance helps keep track of non-financial risks, so users receive business insights faster. Conventional risk management requires users…

68
OpenEnvoy
0 reviews

OpenEnvoy is a that audits every invoice, line item, and surcharge before it is paid. The solution aims to help companies eliminate supplier fraud before it actually happens. It was built by a team with over 20 years experience developing products to automate complex workflows and…

69
NorthRow
0 reviews

NorthRow, founded in 2010 headquartered in London, delivers digitised compliance solutions to regulated businesses to support in the fight against financial crime. Their SaaS technology provides automated solutions for onboarding, ongoing monitoring and remediation. They deliver…

70
AdTector
0 reviews

AdTector headquartered in Hollywood offers their click fraud prevention technology algorithm and protection.

71
Merlon
0 reviews

Merlon was built to leverage the power of artificial intelligence to fight financial crime. Using context-aware natural language processing, the vendor states that Merlon uncovers risk that legacy rule-based adverse media solutions miss while significantly reducing false positives.…

72
Alessa by Tier1 Financial Solutions

Alessa, is a compliance, controls monitoring and fraud prevention solution that allows organizations to quickly identify suspicious activities and high-risk entities in compliance, finance, and purchasing programs. The vendor states that Alessa is trusted by banks, credit unions,…

73
HUMAN Account Defender

HUMAN Account Defender safeguards the user's app and website accounts by detecting and neutralizing compromised and fake accounts.

74
Phonexia Orbis Fraud Detect

Phonexia Orbis Fraud Detect helps users discover fraudsters automatically based on their voice in near real-time and mitigate contact center fraud with AI-powered software designed specifically for contact center identity fraud detection.

75
DAVinCI LABS
0 reviews

DAVinCI LABS is an artificial intelligence based predictive analytics software that discovers patterns within enterprise data with machine learning algorithms. The findings will be converted into a deployable prediction model that can be easily integrated with virtually any strategic…

Learn More About Fraud Detection Software

What is Fraud Detection Software?

Fraud detection software automatically monitors transactions and events in real time to detect and prevent fraudulent activities occurring in-house, online or in-store. It prevents improper access to sensitive company and customer data. The suspect transaction or event is flagged and can be manually reviewed through an investigative dashboard.

Fraud detection software prevents illegitimate activities related to payments, purchases, and chargebacks. It is used to secure web, mobile and phone based financial transactions. The software helps prevent digital payment fraud, and account takeover by validating identities sometimes employing two step authentications, and by identifying malicious logins, and bot activity.

Click fraud software is used by online advertisers to identify and block malicious and non-converting traffic. Fraud detection software is also used to prevent insurance fraud, and money laundering. The software helps ensure compliance with security and data privacy regulations.

The software can monitor internal and external data, employees, customers, transactions, events, and databases. Detection and prevention are based upon rules or predictive models.

Fraud detection software increasingly uses AI for Predictive Analytics which identifies fraud patterns Ai is also employed for Customer Analytics which detects deviations from a customer’s usual behavior and Social Media Analytics which gathers information from social media and blogs. These patterns are analyzed to help identify fraudulent behavior.

In the future behavioral biometric capabilities will be readily incorporated into fraud detection software. This entails analyzing a user’s mouse gestures, typing speed and pattern to detect deviations from the norm as an indicator of potentially fraudulent activity. Real-time biometric analysis will prevent identity theft and account takeovers.

Fraud Detection Software Features

· Data security and privacy regulations compliance· Real-time fraud monitoring of internal and external data, employees, customers, transactions, events, and databases.· Real time transaction screening and review· Pattern recognition / Anomaly detection· Custom fraud parameters – establish organization specific parameters and thresholds to trigger fraud prevention actions· Investigations· Security management – manage role-based user access to transactional data to prevent tampering or hacking· Internal fraud monitoring – review of internal actions to determine need for investigation

Fraud Detection Software Comparison

Consider the following when purchasing fraud detection software.

Use Case – What kind of business or organization will be using this software? Banks and financial institutions, eCommerce and online retail, physical and in-person services, will all have different challenges when it comes to fraud prevention. Some fraud tools are specialized to support those needs, other vendor offerings are generalized to support a wide range of industries.

For Financial Fraud Protection – It is essential that the product has the capability to perform real-time analysis to flag suspicious activities as they occur and to take the appropriate actions.

Dashboards – a robust dashboard provides the capability to review transactions, identify patterns, provide insights, and make informed decisions.

Pricing Information

Pricing is driven by the number of transactions/queries, validation and grouping rules supported, features provided and level of customer support. Basic plans range from $25 to $1,000 a month. Some enterprise plans begin at $1250 a month. Licenses can cost $49,000 or more. Many vendors require a quote for their product and services.

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Frequently Asked Questions

What does Fraud Detection Software do?

Fraud detection software prevents fraudulent activities related to accounts, payments, and purchases by reviewing transactions, and events in real time to detect fraudulent activities. It helps protect sensitive company and customer data.

What are the benefits of using Fraud Detection Software?

Financial – It protects against revenue loss by identifying fraudulent transactions and minimizing false declines.

Security – It prevents access to sensitive customer and company data and prevents account takeovers.

Brand Reputation – When an organization is exposed to fraudulent activities, its reputation can suffer as there can be a loss of trust. Minimizing this exposure protects the brand.

Customer Experience – Proper use of automated fraud protection software will seamlessly approve legitimate customer transactions in a timely manner.

What are the best Fraud Detection Software products?

How much does Fraud Detection Software cost?

Pricing is driven by the number of transactions, validation rules supported, features provided and level of customer support. Basic plans range from $25 to $1,000 a month. Many vendors require a quote for their product and services.