Top 5 Best Fraud Prevention Solutions In 2019

Fraud prevention solutions these days are so sophisticated that they help avert suspicious activities with amazing accuracy. Using advanced analytics and automated systems to detect questionable patterns based on factors such as activity frequency, location, and transaction size, among other things, the software helps in shutting down the exploit instantly.

However, with a large number of transactions every day, the fraud prevention software still has to act fast — typically under one second, to stop the fraudulent behavior from causing any harm. This is why large organizations seek providers that offer a service level agreement of at least 99.7 percent, allowing the system to miss no more than 0.3 percent transactions. The companies looking to minimize their damages due to fraud can choose from one of these top five fraud prevention solutions in 2019.

1) SpyCloud

SpyCloud is a reliable service provider that can help organizations reduce the risk of account takeovers within their business environment. With multiple services to isolate the ATO risk, the software functions seamlessly to mitigate the damage caused by the fraud. The service provider identifies fraudulent account takeovers and blocks them.

The SpyCloud system can run uninterruptedly as per the client's schedule. The tool identifies compromised passwords and forces the user to change it when it detects suspicious activity. The system also compares stolen credentials against existing employees to isolate questionable patterns.

SpyCloud API can also be used by the client to integrate the fraud prevention services within apps and existing systems to check the authenticity of user credentials each time they log in. This feature either allows the user to get inside their account or forces them to reset the password via an email link. This is especially helpful if the client's login system is publicly accessible and prone to ATOs.

Each time a new data breach is published online, SpyCloud will download this information and cross-reference it against the business data to help companies identify potential violations.

The system is popular with clients because it has one of the largest inventories of decrypted compromised authorizations. This allows them to isolate compromised accounts with greater accuracy and prevent any system breaches. With SpyCloud working actively to protect the clients' system, it also sometimes enforce the user to create more secure passwords.

It is extremely simple to integrate SpyCloud into an existing system as the company offers multiple codes. It also provides comprehensive documentation to help the businesses implement SpyCloud on various platforms such as Python, PHP, Java, and many more.

The fraud prevention solution offered by SpyCloud is incredibly effective. This is the reason some of the biggest technology companies, including Cisco, are using it to safeguard themselves against possible violations. To new customers looking to try this tool, the company also offers a free customized demonstration of its services along with a trial to test and integrate it into their current systems.

SpyCloud addresses the growing ATO threat by providing complete protection against data breach. Until the company's inception, the industry lacked the right technology that could identify and collect compromised account information at its formative stages and stop them before they cause any damage.

Its early warning solution detects and flags compromised company assets or employee credentials. The software is designed with a combination of human intelligence and intuitive technology, such as SpySight engine, which helps in acquiring leaked assets that may have fallen in the wrong hands. Upon collection of this data, the company analyzes and validates the records and enrich its database with new information to help its valuable customers better.

SpyCloud helps companies protect their credentials. It also offers a web portal where the users can enter email addresses, website addresses, and other details to extract historical breach report immediately. The software monitors stolen assets and matches them with the existing database, sending users instant alerts. The solution offers complete details of each breached record from password to its source and even description.

SpyCloud helps enterprises protect themselves and their employees against ATO. It can be installed on any device and can be connected to Active Directory tracking tool.

2) AVG CloudCare

AVG CloudCare is a security system that runs on cloud and is designed to serve SMBs. It also caters to third-party managed security service providers who use this tool to maintain their client's security.

AVG CloudCare offers a full suite of services and security features for businesses that include antivirus protection for laptops and PCs. It also helps detect concealed threats, removing them effectively. The system runs a full scan of the files before employees can download them. The fraud prevention solution also scans URLs to reduce the risk of any potential threats or attacks.

The system also comes with content filtering option that allows businesses to track, block, and select the websites their employees can access to improve productivity. It also protects companies against spam, offering encryption for emails. There is also an additional feature of pay-as-you-go cloud backup that protects the users against probable data loss.

Moreover, the remote management tool offered by AVG CloudCare enables the administrator to monitor the company's security remotely, and from any device. AVG CloudCare can be scaled to suit client operations. AVG offers a two-year subscription with the option to take on additional services on a monthly basis.

3) Avast 

Avast for Business is a fraud prevention and security solution that is designed specifically for business users. It offers complete protection of Mac and Window devices.

This cloud-based management tool enables administrators to manage the company's security from anywhere and from any device. The solution also provides malware protection, anti-phishing, regular updates against latest threats, and application control. There is also an added rescue disk feature that allows system administrators to create a bootable version of the software.

The basic features of Avast for Business are available to clients on an annual subscription. However, subscribers also have the option to pay extra to gain an extra layer of protection such as https scanner, firewall, anti-spam, server protection, etc. Avast receives data from 200 million software installations all over the world, providing an updated virus signature repository.

This antivirus is designed to detect malicious software quickly. It offers security internal systems that are on public Wi-Fi networks. It also protects computers in different centers and departments from suspicious people who seek unauthorized access to these systems. The software constantly checks for fraudulent behavior and viruses, flagging and cleaning them immediately.

4) ESET Endpoint Security

ESET Endpoint Security is an anti-malware and security solution for businesses of all sizes. Its primary objective is to remove malware and offer endpoint security. The users are also able to remotely manage the security of the systems from any device. Other features include file security, firewall, web control, and bot protection.

Other notable features include protection of mobile devices such as smartphones and tablets. It also provides data encryption, data loss prevention, network traffic analysis, recovery of lost data, and two-factor authentication. Additionally, IT staff is able to control what websites employees can only visit with the help of web filtering services. It also helps the companies remain compliant with client requirements.

The clients can also benefit from email filtering that protects the users from phishing attacks, spam, and other stealth malware attacks that may be hiding in file attachments or trying to invade the system through other channels. ESET Endpoint Security also protects DVDs, CDs, USB sticks, and other external devices.

5) Webroot SecureAnywhere Endpoint Protection 

Webroot SecureAnywhere Endpoint Protection software is a classic fraud prevention solution for businesses that protects systems against malware and viruses. It offers full protection against all latest threats such as Trojans, phishing scams, spyware, rootkits, zero-day threats, and other advanced threats that can compromise the client's data.

The software has been designed with in-built identity and privacy shield that protects the system against breach of data and potential violations. The Webroot SecureAnywhere software also stops the data from being stolen and the firewall installation prevents the malware from pilfering the sensitive client data. This cloud-based software remains automatically updated and provides security against the latest threat. It also ensures that all endpoints are always upgraded.

Webroot keeps client data safe from all kinds of threats. It is incredibly helpful in managing and documenting all kinds of external system risks. The easy-to-use dashboard interface ensures that helpful information is easily accessible. Another notable feature includes control of policies that allows businesses of all sizes to tweak the system as per their requirements. The email notifications and different configurations make the console flexible as well as helpful for the user.

The company provides complete support to its clients, helping them with early detection of threats. Therefore, making it one of the most affordable and helpful fraud prevention solutions out there.