Cloudflare Launches Cyber Fraud Detection Tool

Cloudflare launched an Artificial Intelligence (AI)-based fraud detection tool, Fraud Detection, (photo: dock. Cloudflare)

Cloudflare has just launched an Artificial Intelligence (AI)-based fraud detection tool, Fraud Detection, which is designed to protect businesses and consumers from various types of cyber fraud.

Cloudflare explained, this new tool will protect against fake account logins, account takeover, and stolen credit cards.

"Detection of Fraud will give you the right and easy to use that can be applied in seconds to any website on the Cloudflare network to help detect and categorize fraud," Cloudflare said in its official blog post, quoted by VOI Tuesday, March 21.

Cloudflare subscribers can choose behavior for any type of fraud the tool can detect, they can directly block the traffic of fraud.

For information, online scams have exploded over the past few years. According to data from the Federal Trade Commission (FTC), the US, many consumers have lost nearly $8.8 billion to fraud in 2022.

That figure has increased by more than 400 percent since 2019. Cloudflare says many people continue to spend time alone compared to before, and that's what makes them not only targeted, but also vulnerable to fraud.

The victims of the scam are not only experienced by individuals, but also some companies according to the PWC's Global Crime and Economic Fraud Survey, more than half of the companies with revenues of at least 10 billion US dollars (Rp153 trillion) are experiencing some kind of digital scam.

On average, this fraud is carried out by bots. However, it said Cloudflare the action was not always carried out by bots. The evil perpetrator behind it also carried out the action.

They exploit online applications to real users. Cloudflare realizes this action must be addressed immediately using a more modern security system, such as a fraudulent detection tool that has just been launched.