Qti.ai Warns: "Buyer Beware" this Holiday Season

Just in time for Cyber Monday's estimated $9.4 billion online shopping spree, Qti.ai has released its latest initiative: An algorithm to detect the legitimacy of online retailers.

Affectionately known as "Scami" (short for "Scam Intelligence"), Qti.ai's proprietary algorithm determines a retailer's rating by considering factors such as content, external links, and reputation of the site. The company's thoroughly researched data sets have been built to constantly evolve with the very latest fraud schemes.

"Several trends are converging into a fertile environment for fraudsters," explained Qti.ai's Founder William Boychuck. "As consumers, we're compelled toward the convenience of buying just about everything online. Last year, nearly two billion people completed online purchases, generating more than $3.5 trillion worldwide. We can expect those figures to accelerate exponentially this year.

"Also," Boychuck continued, "ecommerce platforms have made it easier than ever for anyone to launch a shopping site in just a few steps, with very few barriers to entry. That presents opportunities for everyone -- both legitimate and nefarious individuals alike." Experts estimate that around 20 million ecommerce sites exist across the entire globe -- though fewer than one million of them sell more than $1,000 / year. (Amazon alone accounts for about half of all US ecommerce sales.)

Most ecommerce platforms offer some level of protection against consumer fraud and abuse, and also integrate buyer feedback into their own internal algorithms. That approach is a necessary and noble reaction to penalize wrongdoing and minimize future infractions. The problem is, it occurs only after damage has been perpetrated in the first place.

Qti.ai differentiates itself with PRO-active threat intelligence. Boychuck believes every ecommerce platform has a responsibility to use proven technology to "flag" new retailers with a high probability of fraudulent intentions. If the resulting rating exceeds established thresholds, then the platform's account integrity team is alerted. By applying threat intelligence upon registration -- in advance of the retailers' interaction with consumers -- platforms can minimize the risk posed by scammers, for the greater good of retailers and consumers alike.

Join us in our fight against fraud!

Stay tuned to Qti.ai and our social media outlets for all of our latest developments in improving the integrity of ecommerce. Contact cheryl@Qti.ai to discuss ways to work together.