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Bank of America Merchant Services is proud to offer Fraud Detect, a fraud prevention solution that provides real-time fraud scoring and machine learning capabilities designed to reduce a merchant’s overall exposure to fraud.1

Fraud, especially card-not-present fraud, is an increasing problem for merchants worldwide. This year alone, fraud cost retailers over 48 billion dollars, representing 7% of their annual revenue.2 Merchants need a strong fraud strategy in place to help reduce direct costs, improve operational efficiency and, most importantly, protect their business.

Now merchants have the ability to build a customized fraud strategy based on their specific business needs. Fraud Detect uses real-time fraud scoring and machine learning capabilities designed to help reduce a merchant’s overall exposure and cost of fraud. These features provide an instant risk score for every transaction, and help merchants decide whether to accept, decline or review the transaction.

1We make no assurances that Fraud Detect will accurately identify every instance of fraud, or that every transaction that may appear fraudulent is in fact so.

2Javelin Group, The Financial Impact of Fraud: Merchants Challenged as E-Commerce Fraud Rises Post-EMC