Described are a system, method, and computer program product for authentication by augmented reality (AR) for fraud prevention. The method includes receiving AR map data of an authorized area of operation associated with a merchant. The AR map data is generated from an AR recording device and includes one or more environmental anchors and one or more virtual object reference points. The method also includes storing the AR map data in association with a merchant identifier and receiving a request for authentication of an operation by a merchant point-of-sale (POS) device. The method further includes communicating at least a portion of the AR map data to the merchant POS device for execution of an AR re-localization process, and, in response to success of the re-localization process by the merchant POS device, authenticating the operation.