Fresha, a global marketplace and business management platform for the beauty, wellness, and self-care industry, has achieved a 99% reduction in fraud within six months, leveraging AI and machine learning technology. This milestone reinforces its position as one of the most secure platforms in the industry, ensuring businesses and clients are protected from evolving cyber threats.
Fresha’s fraud prevention system uses predictive analytics to detect suspicious activity before it causes harm. Its transaction monitoring system scores multiple parameters to identify fraudulent behavior, such as stolen card usage, while automated defenses block payment fraud attempts in real time. Additionally, Fresha’s secure messaging infrastructure helps mitigate phishing scams through SMS and email security measures.
The platform integrates its AI-driven fraud detection with a multi-layered security approach, including compliance with ISO 27001, HIPAA, and GDPR standards. Fresha employs zero-trust access management, continuous compliance monitoring, and strict vendor security protocols to proactively minimize cybersecurity risks.
Collaboration with ethical hackers
As part of its ongoing security enhancements, Fresha is inviting security researchers and ethical hackers to contribute to its security infrastructure through a bug bounty program. This initiative aims to identify and address potential vulnerabilities with the help of external cybersecurity experts. Researchers interested in participating can reach out to security@fresha.com for more details.
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The need for enhanced fraud protection has grown amid rising cybercrime rates. In the UK alone, £571 million was lost to card payment fraud in 2023, while global e-commerce fraud losses are expected to reach $91 billion by 2028. By integrating AI-powered security measures, Fresha is positioning itself as a leader in fraud prevention within the beauty and wellness industry.
“As we continue to grow, our responsibility to safeguard businesses and clients grows with us,” said William Zeqiri, founder and CEO of Fresha. “Fraudsters are becoming increasingly sophisticated, but so are we. Our AI and machine learning systems don’t just react to fraud—they prevent it before it starts.”
With a network of over 130,000 partners and millions of users worldwide, Fresha’s proactive security approach aims to maintain a seamless and trustworthy experience, setting new industry standards for digital safety.
Featured image credit: Fresha
