online fraud

Five tips for using behavioural analytics to combat fraud

When we tell businesses that getting to know their customers is vital, it’s not just so that they can provide the best possible customer experience for them.

Getting to know your customers is most crucial when it comes to helping businesses identify enemies disguised as customers.

Fraud is becoming increasingly widespread since the dawn of ecommerce and as it becomes more and more sophisticated, we need greater visibility to fight malicious activity on our websites.

Online retailers saw an increase in fraud last year

The UK’s online retailers experienced a rise in the number of bad orders last year, with an average of 1.9% of orders turning out to be fraudulent.

This is the headline finding from Cybersource’s UK Online Fraud Report, which surveyed 200 etailers about the incidence of fraud and the challenges of fraud management. 

I’ve been asking the report’s co-author Dr Akif Khan about the issues facing the UK’s online retailers as they attempt to combat fraud.