Using machine learning, users can identify potentially fraudulent online activities, such as online payment and identity fraud, the creation of fake accounts, and loyalty account and promotion code abuse.
Amazon Web Services (AWS) has announced the general availability of its machine learning-based fraud detection service. Amazon Fraud Detector is a fully managed service touted as making it easy to quickly identify potentially fraudulent online activities, such as online payment and identity fraud, the creation of fake accounts, and loyalty account and promotion code abuse “in milliseconds”. To use the service, customers can select a pre-built machine learning model template; upload historical event data of both fraudulent and legitimate transactions to build, train, and deploy machine learning models; and create decision logic to assign outcomes to the predictions. “Customers of all sizes and across all industries have told us they spend a lot of time and effort trying to decrease the amount of fraud occurring on their websites and applications,” Amazon machine learning VP Swami Sivasubramanian said.
