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Fraud detection tools are a must for all online businesses to help them protect their platforms from hackers and criminals. While there is no 100 percent guarantee that all fraudulent activity will be detected and prevented, a robust fraud detection tool can make all the difference in protecting your business from hefty losses.

What is the best fraud platform?

The best Fraud detection tools are able to detect different types of fraud in real-time by analyzing massive amounts of data and quickly flag suspicious behavior. They should also be able to provide accurate information regarding the fraudster’s digital footprint and take action depending on their risk findings. The top tools are able to identify a variety of fraud practices, including identity theft, account creation, credit card fraud, and more.

With a strong enterprise focus, Sift offers plenty of products and tools to combat different types of fraud. This includes a chargeback fraud resolution module, a passwordless authentication add-on for better user experience, and a content security add-on for improved cybersecurity hygiene. The best fraud detection software also comes with a transparent system that explains the rationale behind the rules it suggests.

AML and fraud detection solution fcase combines an end-to-end case management suite with risk analytics, front-line reporting of questionable activity, OFAC and watchlist screening, and more. It allows for flexible fraud investigation storyboards to help teams spot anomalous behavior and identify risks more easily. Its pricing structure is competitive, with a free version and a low-cost paid version that covers AML protection, customer screening, and more.

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