Bespoke machine learning is a must to tackle FaaS underworld
When it comes to fraud, you can never be too careful. Especially when you hear about the brass neck of some criminal gangs that are increasingly adopting the persona of legitimate businesses to peddle stolen credit card details and other financial information.
Fraud-as-a-service (FaaS), as it’s known, has become an industry in itself, with criminals able to provide a one-stop-shop for scammers to rip-off customers and businesses. These organized fraud rings -- often manned by career professionals who know how to bypass rules-based systems -- are becoming increasingly sophisticated.