Amazon announced that Fraud Detector is now generally available to all AWS (Amazon Web Services) customers.
Amazon Fraud Detector is a fully managed service that simplifies the identification of potentially fraudulent online activities, such as creating fake accounts or frauds related to online payments.
The Amazon Fraud Detector service uses machine learning and builds on the twenty years of experience in fraud detection by AWS and Amazon.com, to automatically identify potentially fraudulent activities so that online fraud can be detected more quickly.
In addition, Amazon Fraud Detector manages heavy work and machine learning complexity on behalf of the customer: in just a few clicks, a company is able to create a fraud detection model, and no previous experience in machine learning is required
Globally, Amazon points out, tens of billions of dollars are lost every year due to online fraud. Companies that conduct online business activities are particularly prone to attacks by malicious and cyber-criminals, who often exploit different tactics such as creating fake accounts and paying with stolen credit cards.
Companies typically use fraud detection applications to identify scammers and stop them before they can cause costly business interruptions. However, these applications often rely on corporate rules that fail to keep up with the changing behaviors of scammers.
The most recent fraud detection applications have attempted to use machine learning; however, Amazon considers that they often use a unique approach for all, based on generic data sets and fraudulent behaviours that are not specific to the business that the company conducts, which is why it is not possible to use
Amazon Fraud Detector overcomes these challenges by combining company data, latest scientific innovations in the machine learning industry and all the long experience in fraud detection by Amazon, to create custom-made machine learning models for business,
Amazon Fraud Detector is available in the AWS console, via the SDK AWS and CLI AWS in the following geographic areas: Eastern United States (N. Virginia), Eastern United States (Ohio), Western United States (Oregon)