Fraud prevention involves strategies and measures taken to stop dishonest activities that can lead to financial loss. This includes identifying potential risks and implementing safeguards to protect individuals and businesses. Common methods include using secure payment systems, educating employees about scams, and monitoring transactions for unusual activity. Another important aspect of fraud prevention is raising awareness among consumers. By informing people about common types of fraud, such as identity theft and credit card fraud, they can better protect themselves. Simple actions like regularly checking bank statements and using strong passwords can significantly reduce the chances of falling victim to fraud.