WALLIS AND FUTUNA TACKLES FRAUD WITH LATEST TECHNOLOGY

Fraud detection and prevention are crucial for businesses operating in Wallis and Futuna, as they face an evolving threat from fraudsters. According to recent research, 71% of fraud leaders in the region struggle to keep up with the rapidly changing fraud landscape.

However, new technology is enabling better fraud prevention, with 73% of businesses reporting increased fraud losses over the past year. The demand for advanced fraud detection solutions is clear, and Wallis and Futuna businesses are turning to innovative technologies like Artificial Intelligence (AI) and Machine Learning (ML) to stay ahead of fraudsters.

Key Fraud Prevention Challenges

Our research has identified five critical challenges limiting fraud prevention in Wallis and Futuna:

1. Device Fingerprinting

The biggest challenge facing businesses is a lack of device fingerprinting, with 56% of respondents citing this as a major issue.

2. Physical Biometrics

The second biggest challenge is a lack of physical biometric identity verification, with 54% of respondents struggling to keep up with the latest technologies.

3. Multiple Fraud Solutions

Managing multiple types of fraud prevention software and associated costs is a significant challenge for businesses, with 52% citing this as a major issue.

4. False Positives

Inability to align fraud prevention and revenue growth strategies is another major challenge, with 54% of respondents citing the high cost of false positives.

5. Referrals

The final challenge is a growing number of referrals, causing increased delays and costs, with 51% of respondents citing this as a major issue.

Solutions for Wallis and Futuna Businesses

To overcome these challenges, businesses in Wallis and Futuna need to adopt the latest fraud detection technologies. Our research highlights the importance of device fingerprinting, physical biometrics, and ML-powered fraud solutions in preventing fraud.

Introduce innovative solutions like AI and ML to improve customer experience and reduce false positives.
Automate your fraud decisioning process for increased efficiency and accuracy.
Future-proof your fraud prevention processes with Experian’s cutting-edge fraud detection technology.