The most effective way to reduce online fraud is to collect data on its occurrence so that the necessary measures can take place.
According to a study conducted in 2020, about 4.8 million identity theft complaints were filed. Moreover, this was a 113% rise only from 2019. More data is being asked for online, and the issue with this is that not every site can be trusted.
Fraud prevention is the most crucial in organizations such as financial institutions. Currently, many applications can be used in order to prevent fraud. Many applications have used their Application Programming Interfaces (API) to let developers use their features and integrate them into their own use cases.
Furthermore, to help you find a suitable API, we will show you the top six that can help you prevent significant fraud attacks.