New strategies and trends in fraud prevention: insights from MRC Connects Dublin

Torsten Knorr, aye4fin’s Senior Risk & Fraud consultant, attended the MRC Connects Dublin. Various fraud prevention topics were discussed and the top 3 trends in fraud and transaction risk were shaped:

  • Friendly fraud is not a new phenomenon at all, but merchant losses are still increasing.
  • AI & machine learning is now an established fraud prevention tool. Most fraud service providers have integrated AI into their products.
  • Authorized push payment fraud (APP fraud) is still on the rise. Victims are manipulated to initiate payments to fraudsters using social engineering.

Around one hundred participants from the fraud and payments industry took part in the event that took place at Dublin Bar & Restaurant, Garden, Event Space – Drury Buildings. Networking with peers was an opportunity for aye4fin’s to brainstorm ideas and create new partnerships.

aye4fin experts have in depth operational experience in managing fraud risks and are helping clients to:

  • manage transactional risks by monitoring transaction behavior;
  • select and implement risk providers;
  • consult on suitable risk strategies;
  • provide ad-hoc chargeback management support and
  • act as Business Analyst for risk and fraud topics.

Merchant Risk Council (MRC) is a global non-profit membership association for payments and fraud prevention professionals, established in 2000. The power of MRC membership lies in staying connected, current, and empowered to influence and transform the industry.