Fraud is on the rise,  it’s more sophisticated than ever before, and the market research industry is susceptible. Our CRO, JD Deitch, writes more about this problem and what companies can do about it for the Research World blog. His article, called “Digital changes everything: The new reality of fraud mitigation,” covers how fraud has changed over the past few years and suggests some new ways to deal with the next generation of “malevolent actors.”

He writes: “Combating the dynamics of this ecosystem is now within our reach due to advances in automation, AI and other technology. But first we need to understand just exactly what – and whom – we are dealing with in this new reality.” He starts out by explaining the high-tech ecosystem in which fraudsters now operate, using digital attacks that we must combat with our own advanced digital weapons. After a quick overview of more traditional methods for fraud mitigation, he dives into new, dynamic approaches that should be implemented to thwart this activity. 

JD argues that fraud techniques must be “able to respond without human intervention to changing threat vectors.” The best way to accomplish this is to use machine learning to take advantage of the billions of data points that we have available to us. “Machines can be trained to recognize unusual emerging patterns” and reacting to these patterns can stop fraud quickly. He also believes that we must capture each individual’s personally-identifiable information, which essentially acts as a concrete “opt in” event. 

“Fraud has become a massive, high-tech business in market research…attacks are sophisticated in nature, automated to an extent that a single person can launch thousands upon thousands of attacks on panel companies servers.” It’s time to defeat them with a different mix of techniques that can keep up. 

For the complete article, visit: https://www.researchworld.com/digital-changes-everything-the-new-reality-of-fraud-mitigation/