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⍰ ASK What are some of the advanced techniques EMIs use to detect and prevent fraudulent transactions?

EMIs also utilize advanced techniques to detect and prevent fraudulent transactions, ensuring the utmost security for their users. These techniques encompass carefully monitoring all transactions for any signs of suspicious activity, such as unusually large or frequent transactions, transactions originating from unusual locations, or transactions that deviate from a user's typical behavior. Additionally, EMIs leverage the power of machine learning algorithms to thoroughly analyze transaction patterns and identify any anomalies that could potentially indicate fraudulent behavior. In the event that a suspicious transaction is flagged, EMIs take immediate action by either blocking or freezing the transaction, promptly notifying the user, and launching a thorough investigation to ensure complete peace of mind.
 

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