The types of fraud you can face differ depending on the type of business you are operating. If you are in B2B, fraudsters will most likely try to get access to your data. If you are in B2C, you can face friendly fraud, phishing, account takeover and many other very unpleasant scenarios. The requirements you have in terms of fraud are sometimes not enough to protect you from fraud which is why you should always be equiped with a performant anti-fraud solution, whether it is integrated in your payments platform or coming from a third party.
Anti-fraud solutions come in various forms: some focus on the online social presence of possible fraudsters (whether they are present on social media for instance). Others will use artificial intelligence to either try to understand the behavior of a fraudster or to stop a person from doing chargebacks. Then, you have systems like 3DS2 which are widely popular in Europe (even more since PSD2 made SCA mandatory) but not at all in North America. You need to have all these options on the table and select the one(s) that are better suited for your business.
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