The public sector and government organizations handle data and information of a critical nature. This makes the vertical an obvious target for fraudsters and hackers. This data might be related to a small project or could be of national importance. In the era of cyber warfare, it has become extremely vital for public sector organizations to maintain data integrity. As a result, government/public sector organizations are increasingly adopting FDP solutions. Frauds in the government/public sector vertical include misappropriation of assets, bribery and corruption, accounting frauds, data thefts, and money laundering.

Frequently Asked Questions

  • What are the recent developments and innovations done in Fraud Detection market?
    Recent Developments are: In October 2019, Kount launched a new fraud prevention solution to differentiate between criminal fraud, friendly fraud, and legitimate disputes to improve business outputs and increase revenue. In August 2019, NICE partnered with Jumio, a global leader in AI-powered identity verification. Jumio joined NICE’s X-Sight Marketplace ecosystem, to assist financial services organizations in evaluating new point solutions and move to stay on top of a challenging regulatory and criminal environment. In June 2019, BAE Systems partnered with Arachnys, a leading provider of in CRI solutions, to address AML and compliance obligations and to deliver accurate and efficient fraud detection and prevention solution. In January 2019, NICE unveiled the IFM-X Integrated Fraud Management (IFM) platform that leverages automation and ML technologies to minimize fraud and money-laundering attacks and to reduce the total cost of system implementation. In October 2018, BAE Systems and Mphasis formed a partnership to protect organizations from evolving fraudulent activities by providing solutions with capabilities for fraud and money laundering detection to the financial institutions. In September 2018, The company unveiled its identity authentication and verification solutions, InstantID, that helps verify a customer’s personal information. In July 2018, FRISS partnered with Rabobank to provide solutions to P&C insurance industry to minimize fraudulent activities. In April 2018, FICO upgraded its antifraud solution to help banks, lenders, FinTechs, and other institutions fight financial crime.
  • Where will all these developments take the Fraud Detection industry in the long term?
    All the developments will drive the market towards positive growth. Fraud Detection and Prevention (FDP) market size to grow from USD 3.4 billion in 2018 to USD 63.5 billion million by 2023, at a Compound Annual Growth Rate (CAGR) of 26.7% during 2018–2023. Cloud based solutions are expected to gain traction during the forecast period.
  • What are the upcoming trends for the Fraud Detection and Prevention Market?
    The major factors that are expected to be driving the FDP market are increasing revenue losses for organizations due to the rising fraudulent attacks, increasing use of electronic transactions across all the verticals and increasing sophistication level of cyber-attacks across all regions will contribute to the growth of the overall FDP market. The rise of digital technologies for payments and the growth of digital banking offer several untapped and unexplored growth opportunities for the FDP market. Online businesses rely mainly on electronic transactions for their products and services offered. Along with the increase in the number of customers shopping online, fraudulent activities have also been on the rise. Frauds such as identity theft, merchant and triangulation frauds, affiliate and clean frauds, phishing, pagejacking, and counterattacks occur during online transactions. FDP is an important issue for eCommerce businesses; customers need assurance that their sensitive data is safe and that their debit or credit card details cannot be stolen. As a result, organizations are adopting FDP solutions to meet their need for security, which is expected to be a key growth driver of the Fraud Detection and Prevention Market.
  • Which segment provides the most opportunity for growth in Fraud Detection Market?
    By solution, the fraud analytics segment is expected to grow at the highest CAGR during the forecast period. The fraud analytics segment is expected to grow at the highest CAGR in the Fraud Detection and Prevention Market during the forecast period. Fraud analytics is a critical discipline which involves set of analytical techniques to analyze enterprises’ systems and database to identify the vulnerabilities where fraud can happen. They help in monitoring and analyzing data from several data sources; detect anomalies, and suspicious and unusual behavior across all channels. They also proactively detect frauds and enable robust information security to improve compliance. The growing adoption of technologies such as AI and machine learning for fraud detection could spur the demand for fraud analytics solutions on a large scale. By vertical type, the banking to account for the largest market size in the Fraud Detection and Prevention Market during the forecast period. The BFSI vertical is also a major target for cyber criminals who wants to commit frauds as it holds sensitive information of employees, customers, assets, offices, branches, and operations. Moreover, due to its amount of transactions (both monetary and data centric), number of transactions, technological advancements, and digitalization of financial sector, the possibility of frauds in this vertical is increasing significantly. Hence, organizations in this vertical are increasing the adoption of FDP solutions on a large scale to avert any kind of fraudulent attacks.
  • Who are the leading vendors operating in the Fraud Detection market?
    The key players in FDP market are: IBM (US), FICO (US), SAS Institute (US), BAE Systems (UK), DXC Technology (US), SAP (Germany), ACI Worldwide (US), Fiserv (US), NICE Systems (Israel), Experian (US), LexisNexis Risk solutions (US), iovation (US), Friss (Netherlands), Dell technologies (US), First Data (US), Wirecard (Germany), Software AG (Germany), Easy Solutions (US), Distil Networks (US), Guardian Analytics (US), Securonix (US), MaxMind (US), Kount(US), and Simility (US)
  • What are the opportunities for new market entrants in Fraud Detection industry?
    Applying AI and ML for FDP can be said to be the biggest opportunity for new market entrants. AI and ML are revolutionizing various businesses and industries. The ability of AI and ML will drastically reduce workforce costs, help in discovering new patterns, and create predictive models from raw data. The technologies enable real-time automated decisions for detecting fraudulent activities. AI and ML help data scientists to determine the transactions, which are most likely to be fraudulent. These technologies automatically discover the patterns across large volumes of streaming transactions.

Fraud Detection and Prevention Solutions in Government and Public Sector

Comparing 41 vendors in Fraud Detection Software across 127 criteria.
3 Experts are advising 61 buyers
Filters
Reset
15
4
15
7
17
13
17
13
13
17
10
13
The company provides the IBM Security Trusteer Fraud Protection Software Suite, which includes IBM Trusteer Pinpoint Detect, IBM Security Access Manager, IBM Counter Fraud Management, and IBM Trusteer Rapport. The IBM Security Trusteer Fraud Protection Suite helps organizations and businesses to detect and safeguard themselves from fraudulent activities.
Read less Read more
70 Buyers Negotiating
“Group Buying Deal”
For IBM CORPORATION
GET PRICING Free Demo
SAS offers fraud and security intelligence solutions to mitigate risks and fraud practices with the help of anomaly detection techniques. SAS provides fraud and security softwares that implement fraud detection techniques to gain a consolidated view of the fraud risks. SAS Fraud Detection Software provides solutions such as fraud data management, alert management, detection, alert generation, and case management to the government, enterprise, and BFSI sectors.
Read less Read more
78 Buyers Negotiating
“Group Buying Deal”
For SAS INSTITUTE INC
GET PRICING Free Demo
FICO offers various solutions, such as FICO Enterprise Fraud and Security, FICO Retail Fraud Manager, FICO Application Fraud Manager, and FICO Falcon Fraud Manager, in the FDP market. FICO Falcon Platform for fraud management provides real-time protection to enterprises from frauds occurring through multiple payment channels.
Read less Read more
78 Buyers Negotiating
“Group Buying Deal”
For FAIR ISAAC CORPORATION (FICO)
GET PRICING Free Demo
BAE Systems provides AML compliance solutions to protect financial institutions from financial and reputational harm. These solutions are used by banks, insurance companies, and law and enforcement agencies. The company also offers a solution for insurance fraud prevention named NetReveal P&C Claims Fraud solution.
Read less Read more
86 Buyers Negotiating
“Group Buying Deal”
For BAE Systems
GET PRICING Free Demo
ACI Analytics has developed practical solutions to implement customer-centric financial crime management. Most financial institutions have to face considerable risks in technical malware, vishing, whaling, and hacking, etc. The company helps prevent this by keeping track of all activities within the institution. The company works for fraud detection and prevention on online and offline level enterprises and also provides compliance solutions.
Read less Read more
61 Buyers Negotiating
“Group Buying Deal”
For  ACI Analytics
GET PRICING Free Demo
The SAP Fraud Detection Software provides users with real-time information to help organizations prevent revenue losses. The company uses predictive analytics technology in its solutions to offer better fraud management for its customers and proactively minimize fraud risks.
Read less Read more
70 Buyers Negotiating
“Group Buying Deal”
For SAP SE
GET PRICING Free Demo
Oracle provides effective solutions such as Oracle Communications Fraud Monitor, Oracle Financial Services Anti Money Laundering, Oracle Database, Oracle Partitioning, Oracle Advanced Analytics, Oracle Active Data Guard, Oracle Fusion GRC, GRC Intelligence, Oracle Enterprise GRC Manager, and GRC Application Controls.
Read less Read more
71 Buyers Negotiating
“Group Buying Deal”
For Oracle Risk Management Cloud
GET PRICING Free Demo
NICE Actimize provides authentication in fraud protection. The company has come up with real-time voice authentication that uses biometrics to identify users. The AML solutions offered by NICE Actimize are smart and cost-effective, and minimize the risks occurring due to fraudulent activities.
Read less Read more
66 Buyers Negotiating
“Group Buying Deal”
For NICE-SYSTEMS LTD
GET PRICING Free Demo
Experian provides an extensive product portfolio in the FDP market. The company provides fraud detection and identity management solutions and services to protect its users from fraudulent activities. The company also provides solutions across account opening fraud, application fraud, compliance, identity screening, and online fraud detection.
Read less Read more
82 Buyers Negotiating
“Group Buying Deal”
For EXPERIAN PLC
GET PRICING Free Demo
Fraud detection software by DXC technology combines predictive data modeling technology, identity search technology, fraud indicator business rules, company claims information, and industry data sources, to minimize losses associated with fraudulent attacks.
Read less Read more
75 Buyers Negotiating
“Group Buying Deal”
For DXC TECHNOLOGY
GET PRICING Free Demo
LexisNexis offers Fraud Focus in the FDP market. LexisNexis also provides AML solutions that offer extensive screening and monitoring of the entire lifecycle of a customer.
Read less Read more
87 Buyers Negotiating
“Group Buying Deal”
For LexisNexis eCitation
GET PRICING Free Demo
Fiserv is a prominent player offering financial services to SMEs and large enterprises across the globe. The company delivers risk and compliance solutions and services. Fiserv offers solutions such as Payment Fraud Manager, Fraud Risk Manager, Fraud Risk and AML Compliance Management, and Check Fraud Manager in the FDP market.
Read less Read more
85 Buyers Negotiating
“Group Buying Deal”
For FISERV INC
GET PRICING Free Demo

Guardian Analytics provides products for fraud Detection, fraud Analytics and AML. It studies the fraudsters’ techniques and remain a step ahead of them. The only company to protect 100% of users and account holders against all types of threats and frauds and also learns from the attacks to be more advanced. Other solutions include account takeover detection, reconnaissance, and fraud set-up activity that indicate possible criminal activity in the early stages of an attack.

Read less Read more
68 Buyers Negotiating
“Group Buying Deal”
For Guardian Analytics
GET PRICING Free Demo
Easy Solutions has become Cyxtera which has acquired significant experience to become an established company when it comes to adequate protection against all kinds of frauds. It has specialized in various components including digital threat protection, multi-factor authentication and mobile fraud protection along with giving you safe browsing for any environment. It has also made provisions for uninterrupted monitoring for transactions and logins to point at any threat entering the system.
Read less Read more
78 Buyers Negotiating
“Group Buying Deal”
For EASY SOLUTIONS
GET PRICING Free Demo
MASTERCARD has invented a fraud detection software to resist the financial loss of their clients. Nowadays, the major part of the monetary exchange is dependent on online fund transfer. There are numerous individuals who havoc other people’s property illegally. Multiple organizations and people in business nowadays face severe problems regarding monetary safety. MACARDSTER has launched an identity recognizing tool, dependent on EMV 3 D specification to resist online financial fraudulent.
Read less Read more
72 Buyers Negotiating
“Group Buying Deal”
For MASTERCARD
GET PRICING Free Demo
Fidelity Information Services on FIS works against fraudulent activities by real-time monitoring, robust and useful intervention tools. It provides account and card monitoring solutions that alert the customers and the teams working at fraud detention so that the company incurs minimum losses by lowering your liability. Thereby all transactions are authenticated, and the environment is secure for smoother business.
Read less Read more
75 Buyers Negotiating
“Group Buying Deal”
For FIDELITY INFORMATION SERVICES (FIS)
GET PRICING Free Demo
VISA has launched plentiful materials to help people to secure their debit and credit cards from frauds. Recently, VISA has brought a new tool to block the treats by scams. It will help to transact money securely and will add reliability to the ecosystem of the method of payment. This technological software named eCommerce threat disruption scans the front part of online commercial websites and detects malware promptly.
Read less Read more
85 Buyers Negotiating
“Group Buying Deal”
For VISA
GET PRICING Free Demo
Kount has become a professional leader by providing some of the most advanced fraud detection software. They have sustained robust policies, smart business intelligence tools and machine learning in supervised as well as unsupervised forms. They have an effective case-management and investigation system. Kount has made special units for Fraud Prevention in Payments, New Accounts and Account Takeovers.
Read less Read more
85 Buyers Negotiating
“Group Buying Deal”
For Kount
GET PRICING Free Demo

eMcREY works proactively with clients to defend their assets against hacking, malware, and fraud, giving them the confidence to focus on opportunities rather than threats. The capabilities encompass card fraud detection, neural networks, risk rules engines, behavioural scoring and both real-time and post-authorisation.

Read less Read more
67 Buyers Negotiating
“Group Buying Deal”
For EMCREY
GET PRICING Free Demo
FRISS entirely concentrates on automated risk and fraud detection software for all the insurance organizations of the world. The artificial intelligence of FRISS resolves the underwriting issues and alleges. SIU of FRISS supports the organization to develop the business. It alleviates financial threats. The transformations which are based on digital methods are assisted by FRISS worldwide. FRISS offers the subscribers robust security, excellent consumer experience, business growth, and financial profit altogether.
Read less Read more
60 Buyers Negotiating
“Group Buying Deal”
For FRISS
GET PRICING Free Demo
Iovation has produced various methods to stop crimes the moment a new device attempts a connecting to your site. Real-time tracking helps to prevent fraud as soon as possible. An active community of analysts keeps a tab on all activities which are tracked through various devices and thereby, provides a full-proof mechanism against crimes and frauds to happen. There are a variety of tools and resources offered, which can increase the level of security and reduce the chances of losses in your company.
Read less Read more
75 Buyers Negotiating
“Group Buying Deal”
For IDVision with iovation
GET PRICING Free Demo