AWS Launches Amazon Fraud Detector to Identify & Reduce Fraud; Swami Sivasubramanian Quoted

AWS Launches Amazon Fraud Detector to Identify & Reduce Fraud; Swami Sivasubramanian Quoted
Swami Sivasubramania

Amazon Web Services (AWS) has announced the general availability of Amazon Fraud Detector, a fully managed service that will simplify the identification of potentially fraudulent online activities such as online payment and identity fraud, the company reported on Tuesday

“By leveraging 20 years of experience detecting fraud coupled with powerful machine learning technology, we’re excited to bring customers Amazon Fraud Detector so they can automatically detect potential fraud, save time and money, and improve customer experiences—with no machine learning experience required,” said Swami Sivasubramanian, VP, Amazon ML, AWS. 

AWS’ Fraud Detector will integrate machine learning (ML) to automatically identify potentially fraudulent activity. With the company's Fraud Detector, customers can select a pre-built ML model template, upload historical event data and create decision logic to assign outcomes to the predictions. 

Amazon Fraud Detector will provide a fully managed service that will enable customers to build, train and deploy machine learning models that provide real-time, low-latency fraud risk predictions. 

Customers will upload historical event data to Amazon Simple Storage Service (S3), where it is encrypted in transit and at rest and used to customize the model’s training. Users will provide any two attributes associated with an event and can optionally add other data. 

Amazon Fraud Detector will pre-process the data, select an algorithm and train a model. The company will integrate ML models based on Amazon’s experience with fraud to help identify patterns commonly associated with fraudulent activity. 

The ML models will improve the accuracy of the trained model. Amazon Fraud Detector will train and deploy a model to a fully managed, private Application Programming Interface (API) end point. 

Customers will be able to send new activity to the API and receive a fraud risk response, which will include a precise fraud risk score. Based on the report, a customer’s application can determine the right course of action. With Amazon Fraud Detector, customers can detect fraud more quickly, easily and accurately with ML, while preventing fraud from occurring. 

About Amazon Web Services

For 14 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 175 fully featured services for compute, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 77 Availability Zones (AZs) within 24 geographic regions, with announced plans for nine more Availability Zones and three more AWS Regions in Indonesia, Japan, and Spain. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs.

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