Dynamics 365 Fraud Protection: An Overview

The world has almost transformed into a digital world; most of the businesses have moved online. In the current wake of scenarios, the reality has been exposed. It is now almost impossible for any business to survive only as a brick-and-mortar business.  

In the era of e-commerce, where the world is shopping and conducting businesses online, the significant challenge involves detecting fraud. Fraudsters can take advantage of the fragile security and accessibility of systems. This leads to substantial scams such as maliciously created transactions via hacked accounts, credit card payment fraud, compromised accounts, illegal use of free trials and discounts, fake product reviews, warranty, refund, and reseller frauds. All such activities can affect the business’s value and reputation. 

To help the businesses achieve more and focus on improving customer experiences, generating higher revenues, rather than worrying about fraud loss and fraudulent transactions, Microsoft has offered a solution, Microsoft Dynamics 365 Fraud Protection, for fraud protection. 

Advanced Capabilities of Dynamics 365 Fraud Detection 

  • Artificial Intelligence and Fraud Protection network 

    • Microsoft AI platform uses customer’s historical data, results of card payment frauds, if any, and then uses these results to train machine learning models and detect linkages of fraud. The solution provides merchants with the benefit of integrated knowledge from fraud network. All the merchants in the fraud protection network can avoid such scams beforehand. 

  • Purchase Protection 

    • By exploring and reviewing the historical data, much better decisions can be made to protect from purchase fraud and counterfeit payments. Rules and policies can then be implemented by merchants to exclude any payments made below or above a certain threshold. 

  • Account Protection  

    • Account protection uses real-time APIs to allow merchants to evaluate the risk of fraudulent attempts to create fake accounts and efforts to log in on the merchant’s system or compromise any existing accounts. 
    • Risk assessment in Fraud Protection can also be used by the customers to block any suspicious or malicious activities with their accounts. 

  • Loss Protection 

    • Loss Protection uses AI to identify anomalies and patterns that might be indicative of in-store fraud. The solution helps merchants in the fraud network to stay connected. It combats scams associated with returns, improper discounts, stock mishandling, and inventory turn-over with versatile AI technology and machine learning for evolving fraud patterns. 

  • Device fingerprinting 

    • Using machine learning and AI, Dynamics 365 Fraud Protection offers device fingerprinting. It uses the Azure cloud’s power and security to store data to prevent fraud and protect merchants and customers. 
    • Device fingerprinting is beneficial for brick and mortar retailers. 

  • Virtual Fraud Analyst (VFA) 

    • Using AI technology, VFA provides a great view of the customer’s historical data and helps the merchant set up and adjust the optimal risk score thresholds. This information can then help to make decisions about accepting or rejecting your customer transactions. 

  • Graph explorer and scorecard 

    • Dynamics 365 Fraud Protection offers a graph explorer for a complete 360-degree view of e-commerce data. This data can be manipulated in multiple ways. It can not only be used for real-time decision making and recommender systems but can also be used for finding linkages to users, addresses, payment methods, and many other ways. The graph explorer can be a powerful fraud detection and investigation tool. 

  • Transaction acceptance booster 

    • Dynamics 365 Fraud Protection helps boost acceptance rates with banks and reduce false declines.  It shares information about the transaction’s risk exposure to banks and issuers, which can incorporate this information in their evaluation to make a more updated estimation.

Conclusion: 

These capabilities are highlighting that help to Diagnose, Evaluate and Protect the users and help them to accelerate towards a more extensive fraud protection environment. If you have any questions or insights, please leave a comment below!