Online Detection Solutions Help Prevent Internet Fraud

Online Detection Solutions Help Prevent Internet Fraud

The Internet has transformed the way we do business, with some businesses having been greatly
benefitted; while some have been negatively impacted. The ease with which one can host a website
encourages counterfeiters to create fraudulent webpage's and carries on with their activities. As
technology is expanding with every passing day, security measures need to be taken to curtail these
online frauds.

Growth of Online Fraud

Online fraud and cyber crime has turned out to be a huge global racket. It brings together cyber
criminals who craft ways to steal money and encourage counterfeiting. On one hand, success of internet
has enabled eminent brands to chart out to multiple markets around the globe; it has also benefited
fraudsters by allowing them to make the best of social engineering.

The U.S. Securities and Exchange Commission, which regulates securities markets within the United
States, reports that it receives as many as 300 complaints per day from investors about alleged Internet
fraud.

Online Fraud Prevention

Most companies have now realized that internet has facilitated the growth of counterfeit products and
grey market sales. This is prevalent especially in the high-tech industry where remarking is considered
to be a common way for selling faulty goods. It is essential for online trade companies and others to be
aware and find ways to prevent internet fraud.

Industry Offering for Online Fraud Prevention

Today there are innovative online fraud detection solutions that monitor a wide range of sources
globally, comprising of auction sites such as Tao Bao, eBay, Amazon, Alibaba, and OLX, e-Bay, B2B sites
and even grey market malls. The solution works by identifying and analyzing suspect information on a
user friendly dashboard. It helps to prevent internet fraud through advanced features such as:-

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Improved SaaS based anti-counterfeiting software solution

Suspect prioritization based on client criteria

Applying human intelligence to assure data integrity

High end search capacities that daily monitors internet

Advanced online fraud protection solution developed by leading service providers is an innovative web
mining and reporting technology that offers organization in-depth visibility beyond their supply chain
into the vast open, global market. It gives actionable, prioritized information concerning any internet
fraud that helps to curb grey market sales and retrieve the lost brand value.

Read also on: Sales Intelligence, Counterfeit Detection

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