Amazon Web Services Inc. (AWS), an Amazon.com company, announced the general availability of Amazon Fraud Detector, a fully managed service that makes it easy to quickly identify potentially fraudulent online activities like online payment and identity fraud.
Using machine learning under the hood and based on over 20 years of fraud detection expertise from Amazon, Amazon Fraud Detector automatically identifies potentially fraudulent activity in milliseconds—with no machine learning expertise required.
Essentially, Amazon Fraud Detector automates the complicated steps of creating machine learning models for fraud detection. Everything from data validation to model deployment can be done with no machine learning or coding experience required. The result is machine learning based fraud detection models that can be deployed in minutes instead of months.
Amazon Fraud Detector provides a fully managed service that uses machine learning for detecting potential fraud in real time (e.g. online payment and identity fraud, the creation of fake accounts, loyalty account and promotion code abuse, etc.), based on the same technology used by Amazon.com—with no machine learning experience required.
Amazon Fraud Detector is now available in parts of the US and other countries -- Ireland, Singapore, Sydney, with availability in additional regions -- expectedly India -- in the coming months.
With Amazon Fraud Detector, customers use their historical data of both fraudulent and legitimate transactions to build, train, and deploy machine learning models that provide real-time, low-latency fraud risk predictions. To get started, customers upload historical event data (e.g. transactions, account registrations, loyalty points redemptions, etc.) to Amazon Simple Storage Service (Amazon S3), where it is encrypted in transit and at rest and used to customize the model’s training. Customers only need to provide any two attributes associated with an event (e.g. logins, new account creation, etc.) and can optionally add other data (e.g. billing address or phone number). Based upon the type of fraud customers want to predict, Amazon Fraud Detector will pre-process the data, select an algorithm, and train a model.