E-commerce fraud as a percent of sales dollars may be on the decline, however losses still account for billions of dollars.

This was according to the “Q1 2017 Global Fraud Index,” a report from Pymnts.com and Signifyd. The study measures and benchmarks innovations and trends that are reshaping the payments and commerce ecosystem.

E-commerce fraud is on the decline, dropping 34.7% in first quarter 2017, compared to first quarter 2016. One of the main reasons behind the drop is due to the use of machine learning in fraud prevention solutions. Besides raising the bar against a global network of cybercriminals, machine learning surpasses the capabilities of previous solutions that use static rules to…