Amazon Fraud Detector

Excellent use of Machine Learning

Zakeia Davis

Globally each year, organizations lose tens of billions of dollars to online fraud. On July 28, 2020, Amazon announced  Amazon Fraud Detector is a fully managed service that uses machine learning (ML) and more than 20 years of fraud detection expertise from Amazon, to identify potentially fraudulent activity so customers can catch more online fraud faster. Amazon Fraud Detector automates the time consuming and expensive steps to build, train, and deploy an ML model for fraud detection, making it easier for customers to leverage the technology. Amazon Fraud Detector customizes each model it creates to a customer’s own dataset, making the accuracy of models higher than current one-size-fits-all ML solutions. And, because you pay only for what you use, you avoid large upfront expenses.


Benefits:

Prevent and detect online fraud
Fraud detection in minutes
Customized for your unique business needs


Detect common types of online fraud

New account

Accurately distinguish between legitimate and high-risk customer account registrations so you can selectively introduce additional steps or checks based on risk. For example, you can set up your customer account registration workflow to require additional email and phone verification steps only for account registrations that exhibit high-risk characteristics.

Online payment

Reduce online payment fraud by flagging suspicious online payment transactions before processing payments and fulfilling orders. Spot potential fraudsters among customers without transaction histories. With Amazon Fraud Detector, you can send as little as two pieces of data from a guest checkout order (e.g., email, IP address) to assess its potential fraud risk, so you can decide whether to accept it, review it, or collect more customer details.

Online service and loyalty program abuse

Identify accounts that are more likely to abuse online services such as loyalty or ‘Try Before You Buy’ programs that ship goods for customers to try before sending payment. With Amazon Fraud Detector, online businesses can help assess the risk of customers abusing programs, for example by stealing merchandise or engaging in returns abuse, so businesses can limit their risks by applying appropriate limits on the value of goods or services provided.


How it works

Amazon S3

- Upload a CSV file with your historical online event data to Amazon S3

Amazon Fraud Detector 

-Build a fraud detection machine learning model that is customized to your data in a few clicks using a fully automated process(load data, Inspect data, Enrich data, etc.)

Amazon Fraud Detector Detection Logic

-Combine your model with decision rules to turn model scores into actionable outcomes (e.g., review, pass)

Amazon Fraud Detector Prediction API

-Call the Amazon Fraud Detector API with online event data (e.g., new account creation) to receive fraud predictions 


Amazon Fraud Detector overcomes these challenges by combining your data, the latest in ML science, and more than 20 years of fraud detection experience from Amazon to build ML models tailor-made to detect fraud in your business so you can catch more fraud faster. Unlike general-purpose machine learning (ML) packages, Amazon Fraud Detector is designed specifically to detect fraud.




 



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