Machine learning being used to detect fraud

A fraud prevention cloud system uses machine learning and big data analytics to detect potentially fraudulent activities and protect multiple customer service channels in banks, financial institutions and government agencies, says cybersecurity multinational Kaspersky lab head of fraud prevention Alexander Ermakovich. The cloud platform provides fraud prevention solutions for endpoints and mobile devices in organisations’ environments, as well as fraud prevention cloud technologies, including a device-reputation database, device and environmental analysis, behavioural analysis and biometrics, and clientless malware detection.