| Lexeme: |
fraud prevention
Inferred
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| Definition: |
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noun. Fraud prevention refers to the set of measures and practices designed to detect, deter, and mitigate fraudulent activities or attempts to deceive and manipulate individuals or organizations for personal gain. It involves a proactive approach that aims to minimize the risk of fraud occurring in various areas such as financial transactions, online activities, identity theft, tax evasion, and other deceptive practices. Fraud prevention strategies typically involve risk assessment, implementing internal controls, employee training, data monitoring, and the use of technology and analytics to detect anomalies and suspicious activities. The goal is to protect individuals, businesses, and institutions from financial and reputational losses associated with fraudulent activities. GPT3.5
Word Forms:
- noun.
fraud prevention (singular),
fraud preventions (plural)
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