Dynamics Fraud Protection: Keeping Users Safe

Fraudulent transactions account to $250b per year and it’s rising year on year. It’s imperative that people using Business Central have their information and finances protected. Microsoft Dynamics fraud protection is the system that is used to help protect Dynamics users from any malicious activity online. It runs on the same system that protects one billion of Microsoft’s transactions annually. There are three key components to it: purchase protection, account protection and loss prevention.

Purchase protection: increasing acceptance rates, limiting risk

Whilst Fraud is a prevalent and dangerous issue, it’s important to keep business going and preventing legitimate transactions from passing can be a harmful issue. Purchase protection helps to secure online revenue by increasing the acceptance rates of valid transactions. It does this by using transactional trust knowledge which is shared with banks, therefore leading to an increase in likelihood of permitting a valid transaction. Additionally, the fraud protection network provide users with mechanisms to optimise fraud controls. What these mechanisms do is view the global fraudulent patterns and use this information in determining the reliability of the account they are concerned with.

For those with concerns, the customer escalation support tool provides a detailed analysis of customer transactions. This simply helps to grant the user some peace of mind, knowing what transactions have happened at any given time.

Account protection: a multifaceted system

Account protection is simply a way of Microsoft preventing the creation of fraudulent accounts and the hijacking of other users’ accounts. There’s a couple of ways Microsoft achieve this. The first is by utilising sign-in protection; this is an added layer of security when signing in. Account forensics data identifies fraudulent activity from bots trying to create fake accounts and transactions, putting out the fire before it grows. Al track the steps within an accounts lifecycle, meaning these fraudulent accounts are blocked before any risk develops. The second way these protections are achieved is by using device fingerprinting. CAPTCHA and two-step device authentication are classic examples of this. Both are reasonably common and so likely familiar to the user but also effective at keeping bots from gaining unlawful access.

Loss protection: safeguarding your revenue against fraud

Microsoft have AI technology into Dynamics help to identify patterns in fraudulent behaviour. Furthermore, the Fraud Protection Network which provides insights using featured calculation, model training and evaluation grant users the necessary resources in order to prevent fraudulent behaviour in the form of discounts and returns. But contrary to the name, loss prevention looks at more than just this. Additionally, it’s concerned with providing users with business intelligence reporting in order for them to have a better indication into potentially fraudulent activity.

Concluding remarks

To read their own post, take a look at Microsoft’s own piece on fraud protection.

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