Trends in fraud monitoring

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False positives : One of the main drawbacks of fraud monitoring systems is the possibility of false positives, where a legitimate transaction is incorrectly classified as fraud. This can lead to customer dissatisfaction and even financial losses.
High implementation costs : For small companies, implementing complex fraud monitoring systems can be expensive. Not only will it require purchasing and integrating the software, but it will also require training staff, setting up, and regularly optimizing the system.
Privacy concerns : For fraud monitoring to be effective, it is necessary to collect and analyze a large amount of user data, which may raise privacy concerns. Legislation in different countries requires a different approach to protecting personal data.

Trends in fraud monitoring
As technology develops, approaches to fraud monitoring also change. Let's look at several iceland phone number list current trends that will influence this area in the coming years.
Using Blockchain
Blockchain technology can become an important tool in the fight against fraud. Due to its transparency and security, blockchain allows transactions to be tracked and verified in real time. Some banks and financial institutions have already started using blockchain to prevent fraud in their systems.