AI Fighting Fraud and Winning

Dec 21, 2017

It’s estimated that Americans lose approximately $50 billion a year to financial scams, and there are indirect costs like bounced checks, late fees, trouble meeting monthly expenses and even bankruptcy.

So, it’s no stretch to say that fraud also results in emotional costs, which are, in fact high. 50% of victims report having felt severe stress, and over 1/3 report having fallen into depression because of fraud. 69% of a recent survey respondents reported they felt fear concerning their personal financial security. 81% said they felt frustration and annoyance, and 58% reported to have felt rage or anger.

Fraud in Fintech

Fraud is a growing issue all over the world and is the hardest problem in fintech. So, it’s no surprise that some of the existing most advanced AI innovations aim to tackle the problem of fraud. When it comes to criminals, they are using the latest technology such as bot attack generation to add to carts 5 times faster than humans, often targeting newly launched or valuable products.

If you’re are looking for the latest fraud protection and prevention services for your online business, turn to EMB is the nation’s #1 high risk credit card processing company that offers unmatched payment processing services and the best terms in the industry. EMB boasts an A+ rating with the BBB and an A rating with Card Payment Options.

Fraud Prevention and Chargeback Insurance from EMB

With, you can enjoy merchant chargeback insurance, which will help not only your business but also your customers. According to EMB’s co-founder Blair Thomas, it’s always wise to post about chargeback insurance on your website and tell how it’ll your customers in the case of a fraudulent transaction. offers affordable and easy-to-acquire chargeback insurance to merchants of any type and size.

To fight fraud in this day and age requires transforming lots of raw data into complete and accurate insights about transactions as they happen. Such data intelligence results in a situation where businesses can gain a detailed understanding of their customers. In the wake of this, bankers and merchants can make tough decisions confidently in milliseconds.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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