Fraud can hurt any business, even small ones. It can cause money losses and damage your reputation. Protect your business from fraud by being aware of it and staying prepared.
Investing in anti-fraud software is one way to protect your business from fraud. These solutions can help you to identify and mitigate risks, monitor transactions for suspicious activity, and investigate suspected fraud.
Whether you’re a small business just starting or a large enterprise with a complex fraud prevention and detection process, an anti-fraud software solution is right for you. Investing in an anti-fraud software solution can protect your business from fraud and save money on your bottom line.
In this post, we will go over the ten best anti-fraud software solutions in the market. Then, we’ll discuss the features of each solution and help you decide which one is right for your business.
So without further ado, let’s get started!
What is anti-fraud software, and why do you need it?
Anti-fraud software is a type of software that helps businesses prevent fraud. Fraud can take many forms, such as financial fraud, identity theft, or even data breaches.
Unfortunately, it can be incredibly costly for businesses in terms of direct economic loss and damage to reputation. That’s why it’s so important to have a good anti-fraud solution.
Types of anti-fraud software
Many types of anti-fraud software are available, each with its strengths and weaknesses. Some of the most popular options include:
- Financial fraud detection software: ERP fraud software uses various data points to detect patterns that may indicate fraud. For example, it can look for unusual spending patterns, duplicate invoices, or strange transactions.
- Identity theft prevention software: This software helps businesses prevent identity theft. It can do this by, for example, monitoring credit reports or public records for changes that may indicate fraud.
- Data breach prevention software: This software helps businesses prevent data breaches. It can do this by, for example, encrypting data or providing access control.
Here is a list of the 10 Best fraud detection software vendors.
1. Signifyd
Signifyd is eCommerce fraud protection software that helps to identify the identity and intent behind every payment, protecting shopper journeys globally and restoring mutual trust between merchants and their customers.
It is trusted by the companies like Samsung, Walmart, eBay, Lacoste, Wish, and more.
Features
- Fraud protection
- Abuse prevention
- Account protection
- Payments optimization
- Revenue optimization
- Cross border expansion
- PSD2 compliance and SCA in retail
- Order automation
- Omnichannel commerce
Screenshots of Signifyd
Pricing
Pricing details are not provided by the vendor on the official website.
Likes
- Enhances customer experience by avoiding fraud and abuse
- Provides 100% protection from fraud and abuse for automatic payments
- The software is easily understandable and easy to use
- It is stable and trustworthy
- Quick reimbursement
- Easy integration
Dislikes
- The software will be expensive for small businesses
- The software lacks transparency
- Address change in orders takes more than 14 days
- Inability to re-screen an email when a customer inputs it
- Poor custom checkout methods
- Poor secured way to submit customer ID
- The cost per transaction is higher than other solutions.
Supported industries
- Apparel, accessories, and footwear
- Electronics and computers
- Health, beauty, and cosmetics
- Housewares, garden, and furnishing
- Sporting goods
Other details
| Deployment | Cloud, SaaS, Web-Based |
| Support | Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live Rep), Chat |
| Training | Live Online, Webinars, Documentation |
| Language Support | English |
User opinion
Signifyd is a platform that imparts protection to perceive the identity and objective of every payment carried out.
It has features like fraud detection, intelligence reporting, device tracking, payment verification, alerts, and many more, which help build trust between retailers and their customers.
2. Fraud.net
It is a fraud management solution for financial and risk management. Its powerful AI solution prevents fraud for businesses in financial services.
It provides a free demo to learn the software. As a result, many companies, including Gartner, Mastercard, GCHQ, Amazon web services, etc., trust it.
Features
- Account takeover fraud prevention
- Application fraud
- Invoice and wire fraud prevention
- Multi-party fraud schemes
- Payment fraud
- Call center fraud
- Loan and credit fraud
- Marketing and affiliate fraud
- Mobile fraud
- Return fraud
Pricing
The vendor does not provide pricing information.
Likes
- Before opening the email, you can check the suspicious emails
- It is a flexible software
- It helps to review manual transactions and enhances the turnaround time to approve an order
Dislikes
- Release management and user experience are not so good
- You need to refresh the screen to get new alerts
- Inability to amend or add new rules directly
- Unable to integrate Fraud.net into our other software
- Some times scores are not accurate
Supported industries
- Banking/Retail
- Consumer lending
- E-commerce
- Fintech
- Gaming
- Government
- Insurance
- Marketplace
- Mobile
- Payments and billing
- Telecommunications
- Travel and hospitality
Other details
| Deployment | Cloud, SaaS, Web-Based |
| Support | Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, Chat |
| Training | In-Person, Live Online, Webinars, Documentation, Videos |
| Supported languages | English, Spanish |
User opinion
This cloud-based platform is well-trusted worldwide. It uses AI-driven smart tools to identify fraud, keep track of transactions, efficiently onboard customers, useable insights, and more to initiate intelligent, cost-effective, and secure decisions.
3. Seon
Seon is an anti-fraud prevention software system for online businesses. It provides fraud detection solutions for all businesses and insights into all interactions and transactions.
In addition, it also provides more than 50 digital and social media lookups. The software is used by albo, Fairmoney, Carbon, Revolut, niyo, and AirFrance.
Features
- Tailored industry rules
- Social media lookups
- Precise risk scores
- Behavior analytics
- Email analysis
- Device fingerprinting
- Machine learning
- API integration
Screenshot of Seon
Pricing
It offers three types of pricing
- Free– It offers a free plan for two users
- Starter– It offers $599 per month for 10 users
- Premium– Contact the vendor for the pricing details
Likes
- The software is a flexible and modular solution.
- You can pay the price every month as per your needs
- It offers a 14-day free trial
- The software is easy to use and customize
- Good transaction verification
- Automated fraud prevention
- It has complete control of the blacklist
Dislikes
- The phone number verification tool is not so good
- Loading time is more sometimes
- Improvement needed in the dashboard view
- Poor live tracking
- Substandard data enrichment
- Poorly optimized filtering for searches
- Poor customer service
- High learning curve
Supported industries
- Banking and insurance
- iGaming and gambling
- Online lending
- E-commerce
- Travel and ticketing
Other details
| Deployment | Cloud, SaaS, Web-Based |
| Support | Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, Chat |
| Training | Live Online, Webinars, Documentation, Videos |
| Language Support | English, Hungarian, Spanish |
User opinion
Seon aids in improving fraud detection by giving insights into financial transactions, interactions, and profitable opportunities.
It offers features such as digital lookups, behavioral analytics, address profiling, ML algorithms for fraud detection, device fingerprinting, and more.
4. ClearSale
ClearSale is a comprehensive e-commerce fraud protection system. It helps organizations to stop fraud and enhances sales and customer satisfaction. The software is used by more than 5,000 companies worldwide.
Features
- E-commerce fraud protection
- User-friendly dashboard and custom reports
- Chargeback protection
- Protection from false declines
Pricing
It offers two plans.
- KPI pricing model – This model allows you to identify a target charge book percentage
- Fixed percentage pricing model – This model allows you to bill a fixed fee on every approved transaction.
Likes
- No setup and integration costs and also no monthly costs
- Integrates easily with e-commerce platforms such as SalesForce, Magento, Oracle Commerce, Shopify, PrestaShop, and more
- Good customer support
Dislikes
- Approval of orders will become delayed sometimes.
- With Shopify, the software does not allow you to exclude Paypal and Mercado Pago; hence you need to pay a commission.
- Analysis times of each transaction are long
- Poor invoicing features
Supported industries
- Fashion and Luxury
- Consumer electronics
- Automotive parts
- Travel and airlines
Other details
| Deployment | Cloud, SaaS, Web-Based |
| Support | Email/Help Desk, Chat |
| Training | Documentation |
| Language Support | English, Portuguese, Spanish, Chinese (Simplified) |
User opinion
ClearSale caters to enterprises of any size and type, irrespective of their geographical location. It provides quick, secure, and efficacious fraud protection strategies and has helped sellers, retailers, and merchants carry out safe and profitable business transactions and good customer relations.
5. Kount
Kount is one of the best Anti-fraud Software. This leading anti-fraud prevention solution serves over 15,000 enterprises worldwide, including Samsung, HP, Staples, GNC, BlueSnap, Petsmart, Chase, and more. With the help of ML and AI tools, it detects and prevents fraud.
Features
- Account takeover protection
- Digital identity verification
- Bot detection
- Dispute and Chargeback management
- Reports and analytics
Screenshot of Kount
Pricing
It offers three pricing models.
- Kount command – It is for digital fraud prevention
- Kount control – It is for adaptive authentication and MFA
- Kount Central – It is for payment provides
To get the pricing details of each model, you need to request a custom quote by filling out a form on its official site.
Likes
- The software allows you to approve, hold, or decline transactions automatically.
- Its artificial intelligence capabilities provide fraud detection and hence reduce fraud costs.
- Flawless integration
- The cost per transaction is much less
- Easy to use
Dislikes
- The user interface is not intuitive
- Downloading reports with more data will be slow
- Difficult to set up initially
- The reporting part needs to improve
- Implementation is complicated
- Not able to download linked order
Supported industries
- Health and beauty
- Healthcare
- Online learning
- Online gaming
- Restaurants
- Streaming services
- Direct sales
Other details
| Deployment | Cloud, SaaS, Web-Based |
| Supported Device | Mac, Windows, Linux, Android, iPhone, iPad |
| Support | Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live Rep) |
| Training | In-person, Live Online, Webinars, Documentation, Videos |
| Languages Support | English |
User opinion
This AI-driven Identity Trust platform safeguards merchant and customer financial transactions for several companies.
It offers a complete range of end-to-end fraud detection and protection products, such as protection against account takeover, prevention of fraudulent digital payments, dispute and chargeback payments, enhancements in fraud policies and financial operations, and many more.
6. Arkose Labs
Arkose Labs is an Anti-fraud software solution that provides long-term protection against fraud. It uses a multi-layered approach to identify and protect against fraudsters.
It can analyze user behavior. Arkose Labs can distinguish between legitimate users and fraudsters, providing long-term business protection.
Features
- Bot and abuse management
- Account takeover protection
- Payment fraud management
- Micro-deposit fraud
- New account fraud management
- Website scraping
- API protection
Pricing
The vendor does not provide pricing. You need to contact the vendor for details.
Likes
- The software provides real-time risk assessments, machine learning analytics, and transparent risk insights.
- When someone starts abusing your service, Arkose Labs helps quickly and generates new strategies to avoid abuse.
- Good integrations with the third party
- Works great with bulk attacks
- Good customer service
Dislikes
- The dashboard will not provide more self-service analysis features
- Synchronous events need to be improved
- Lack of front-end integration
- High learning curve
- It is difficult to navigate the dashboard
Supported industries
- Finance and fintech
- Online gaming and gambling
- Retail
- Sharing economy
- Media and streaming
- Technology platform
- Travel
Other details
| Deployment | Cloud, SaaS, Web-Based |
| Language Support | English, French, Italian, Polish, Russian, Spanish etc |
User opinion
With an agenda to stop cyber attacks and propagate trusted business, Arkose Labs aims to reduce bot attacks, decrease customer friction, and save on cyber security losses. They offer solutions for credential stuffing, account takeovers, and many more.
7. CertifiD
CertifiD is an anti-fraud software that helps organizations prevent and detect fraudulent activities.
It is an AI-driven solution that uses machine learning to identify and prevent fraudulent behavior. The solution is customizable and can be configured to meet the organization’s specific needs.
Features
- Identity validation
- Bank account confirmation
- Secure transfer of wiring information
- Direct insurance for businesses
- Money protection plan
- Fraud recovery service
Pricing
It offers three pricing plans.
- Starter – Suitable for smaller companies. It starts at $150 per month plus $10 per transaction.
- Professional – Suitable for growing companies. It starts at $250 per month plus $10 per transaction.
- Enterprises – Suitable for large teams with multiple offices. For pricing details, contact the vendor.
Likes
- It is easy to use and easy to submit a request for information to people.
- It provides email notifications when you receive instructions.
Dislikes
- No templates for greeting messages
- No free trial
- Without prior approval, the system will be down for maintenance
- The procedure is more to purchase additional protection
- No such template for greeting messages
Language support
English
User opinion
CertifiD helps you assure and secure your online money transactions through digital identity and device verification solutions. It is employed by companies, law firms, lenders, realtors, and home buyers and sellers to safeguard against any wire fraud.
8. DataDome
DataDome is online fraud and bot management for mobile apps, websites, and APIs. It features sophisticated machine-learning algorithms that detect and prevent fraudulent activity in real-time.
The software is used by some of the world’s largest companies, including Asus, Reddit, McDonald’s, The New York Times, and more.
Features
- Protection against account takeover
- Protection against web scraping
- Protection against layer DDoS attacks
- Protection against card fraud
- Protection against credential stuffing
- Protection against fack account creation
- Protection against vulnerability scanning
- Real-time dashboard
- Advanced analytics and reports
Screenshot of Datadome
Pricing
It offers three plans.
- Business: starts at $4590 per month and $3490/month (billed annually)
- Corporate: Starts at $8090 per month and $6190/month (billed annually)
- Enterprise: starts at $10690 per month and $8190/month (billed annually)
Likes
- It provides detailed insights on attempted account takeover attacks
- Secures all end-points against web scraping
- Smooth onboarding process
- Excellent AI detection
- Transparent pricing
- Good reporting
- Flexible tools and deployment
Dislikes
- 24/7 support is not available for business plan
- Dashboard navigation is a little bit difficult
- Limited impact with features
- Poor third-party integration
- Substandard setup
Other details
| Deployment | Cloud, SaaS, Web-Based |
| Supported Device | Android, iPod |
| Support | Email/Help Desk, Knowledge Base, Phone Support, 24/7 (Live Rep), Chat |
| Training | In-person, Live Online, Webinars, Documentation |
| Languages Support | German, English, French, Spanish |
User opinion
This platform by DataDome is lucid, simple to implement, and frictionless for customers. They offer user-friendly and secure solutions for your mobile apps, APIs, and websites against account takeover, server overload, card cracking, credential stuffing, and many others.
9. Alessa
This anti-fraud software makes compliance and fraud prevention easy. It allows you to analyze data from all sources and provides predictive analytics to help you identify and prevent fraud.
Features
- Real-time risk intelligence
- Transaction screening for suspicious activities
- Advanced analytics
- Realistic assessment of risks
- Dashboards
- Investigation tools
Pricing
The vendor does not provide pricing. Contact the vendor for details.
Likes
- No need to spend more money on training the employees as it is easy to use
- The software is easily customizable
- Good customer support
- User friendly
- Easy to join webinars and question and answer sessions
- Ability to identify and take action on the flaws or loopholes
Dislikes
- The software is not flexible
- Poor functionalities and integration
- Often works slow
- Substandard dashboard
- Unsatisfied export function
Supported industries
- Banks
- Credit unions
- MSBs
- Casinos and Gaming
- FinTechs
- Investment banking
- Insurance
- Corporate
Other details
| Deployment | Cloud, SaaS, Web-Based |
| Supported Device | Windows, Linux |
| Support | Email/Help Desk, Knowledge Base, Phone Support, Chat |
| Training | In-person, Live Online, Webinars, Documentation, Videos |
User opinion
With the main intention of shielding customers and businesses from financial fraud, this platform offers AML compliance, identity verification, transaction monitoring, risk and case management, and many more solutions. It helps make the right decisions, make profits, and comply with standard norms.
10. Sift
The Sift platform handles any issue relating to fraud operations. It safeguards against fraud with the latest in technology and ability.
The solutions are simpler, more flexible, and smarter with automation at each touchpoint. Companies like Twitter, DoorDash, and Twilio have implemented Sift to stay secure and lucrative.
Features
- Payment protection
- Account defense
- Dispute management
- Content Integrity
- Password authentication
- Sift Connect – Digital trust and safeguarding
Screenshots of Sift
Pricing
Contact the company sales team directly for pricing.
Likes
- Easy to search
- Reliable
- Accesible to navigate
- Detection of fraud for any business transactions
- Smart, automated decisions
Dislikes
- The initial learning curve is tedious
- Integration with third-party tools
- Expensive software
Supported industries
- Retail
- Food & beverage
- Marketplaces
- Travel & Transportation
Other details
| Deployment | Cloud, SaaS, Web-Based |
| Supported languages | German, English, French, Portuguese, Spanish |
| Support | Email/Help Desk, FAQs/Forum, Knowledge Base, 24/7 (Live Rep) |
| Training | In-person, Live Online, Webinars, Documentation, Videos |
User opinion
A secure, trustworthy, and comprehensive platform to avert online financial fraud. A customized solution is provided for each industry or client based on their needs.
Sift intercepts any fraudulent payments, fake accounts, spam, scams, account takeovers, and disputes, thereby reducing risks and ensuring frictionless encounters for customers.
FAQs
How to choose the right anti-fraud software for your business?
Choosing the right anti-fraud software for your business can be a challenge. There are many factors to consider, such as the size of your business, the type of fraud you’re most at risk for, and your budget. However, there are a few general tips that can help:
Ensure the software is easy to use: You don’t need to spend hours figuring out how to use the software. Instead, look for something user-friendly and intuitive.
Make sure the software is customizable: Every business is different, so you need to make sure the software can be customized to fit your specific needs.
Ensure the software is affordable: Don’t break the bank on anti-fraud software. There are many great options available at a variety of price points.
What are the benefits of using anti-fraud software?
There are many benefits to using anti-fraud software, such as:
Reduced fraud losses: This is perhaps the most obvious benefit. By using anti-fraud software, you can reduce the amount of money your business loses to fraud.
Improved reputation: Fraud can damage your business’s reputation. Using anti-fraud software can help protect your business’s good name.
Peace of mind: Anti-fraud software can give you peace of mind knowing that your business is protected from fraud.
Conclusion
The fight against fraud is an ongoing process, and it can be difficult to keep up with the latest scams and schemes. However, using anti-fraud software can help you protect your business from financial losses and data breaches.
In this article, we’ve listed ten of the best anti-fraud software solutions currently available. We hope this list of 10 Anti-fraud software will help you choose the suitable solution for your business needs.
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