Fighting Fraud

2FA keeps the fraudsters away

Source: David Jimenez Maireles

A survey conducted by Ravelin of 1,900 global fraud professionals (including C-level executives) found that globally, two-factor authentication is the most effective for fighting fraud. In particular, Latin America economies are lagging behind western economies in terms of adopting more sophisticated fraud detection technologies such as machine learning. However, as the model suggests, there is not a one-size fits all approach, with different solutions more effective at fighting specific types of fraud. In 2022, the UK alone lost more than £1 billion to fraudulent activities.