Fighting Retail Fraud at the Local Level

Technology solutions work best in partnership with existing tools and techniques. A real-time system can create an alert during a transaction, but a CCTV camera will picture the fraudster and help identify them to law enforcement. Behavioral analytics also indicate patterns of both legitimate and illegitimate activity and support the creation of effective rules. Successful fraud prevention is also a collaborative rather than competitive process: banks work together and share information, and so should retailers.