Mitigating Cyber Fraud in E-Commerce: Emerging Technologies and Trends

Abstract

The rapid growth of e-commerce has made it a prime target for cyber fraud, posing significant threats to businesses and consumers alike. This paper explores emerging technologies and trends designed to mitigate cyber fraud in e-commerce. With the increasing sophistication of cybercriminals, traditional security measures such as encryption and two-factor authentication are no longer sufficient. The study highlights the role of cutting-edge technologies like artificial intelligence (AI), machine learning (ML), blockchain, and biometrics in detecting and preventing fraudulent activities. AI and ML algorithms can analyze vast amounts of data in real-time, identifying anomalous patterns and predicting fraudulent behavior with high accuracy. Blockchain technology, with its decentralized nature and cryptographic security, offers transparency and immutability in transactions, reducing the risk of fraud. Biometrics, such as fingerprint and facial recognition, add an additional layer of security for identity verification. Furthermore, the paper discusses emerging trends, including the integration of AI-driven Chatbots, behavioural analytics, and tokenization, which enhance fraud detection and prevention. The study concludes that a multi-layered approach combining these technologies is essential for ensuring secure and fraud-free e-commerce environments, safeguarding user trust and protecting businesses from financial losses.