Finding similar users in data
Fraud has consistently been a pervasive issue in various forms, but the emergence of new technological tools, such as virtual intelligence (VI), has expanded the avenues for fraudulent activities. In today’s world, the use of credit and debit cards has become the standard for making purchases, and as a result, fraud associated with these payment methods is on the rise. The repercussions of such fraud extend beyond impacting just merchants and banks, who are often left shouldering the financial burden.
When a customer falls victim to fraud, they may find themselves burdened with higher interest rates imposed by the bank as they could be categorized as a higher risk profile. Additionally, fraud incidents can tarnish a merchant’s reputation and image. If a customer experiences fraud during a transaction, it can erode their trust in the seller, potentially driving them to seek alternatives from competitors for future purchases.
Given a...
