State of Financial Crime 2023 Report

Fraud Detection

One stop solution for intelligent, real-time fraud detection powered by machine learning and behavioural analytics

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Our Fraud Detection solution provides a holistic, real-time view of transactions, empowering businesses to tackle fraud with greater insights. Machine learning and behavioural analytics identify anomalistic behaviour – plus access to the most comprehensive Fraud Detection Guide available.

 

When the impact of fraudulent transactions on your business can be severe – from financial loss to irreparable reputational damage, ComplyAdvantage has you covered.

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  • Facilitates a unified, coordinated approach to fraud detection
  • Provides a holistic, granular view of all transactions to help ensure fraudulent activities don’t go undetected

  • Clearly defined rulesets and prioritized alerts help focus invaluable resources on tackling genuinely suspicious transactions
  • Automated alerts using machine learning algorithms and behavioural analysis ensures analysts have access to comprehensive, detailed information at their fingertips to make the right decisions and evidence rationale for alert remediation

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  • Reduce risk exposure with real-time API to ensure fraudulent transactions are detected and remediated immediately
  • Eliminate negative impact on customers’ experience so that non-fraudulent transactions are not unnecessarily blocked or delayed

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  • The Fraud Detection Guide helps ensure industry standards are adhered to and emerging fraud risk typologies are identified
  • Clearly explained alert prioritization helps evidence actions taken on specific transactions
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Take control of your fraud detection processes and proactively monitor transactions to detect and remediate fraudulent transactions

 

Our Fraud Detection Guide allows you to configure predetermined scenarios or create new ones via the Self-Serve Rule Builder. Alerts are automatically prioritized through behavioral analytics via our Smart Alerts machine learning algorithms for enhanced efficiency in investigation.

Our Fraud Detection Guide cover the most common fraud scenarios, including:

 

  1. Account takeover
  2. Synthetic identity fraud
  3. Relationship & trust fraud
  4. Refund & cashback fraud
  5. Card fraud

 

Select the fraud scenario/s you want alerts triggered for, based on your industry and risk appetite. Then set your rule parameters and thresholds with our highly configurable and flexible Self-Serve Rule Builder.

 

Fraud Detection

Alerts raised by your pre-set scenarios are automatically grouped as medium, low or lowest priority using machine learning algorithms with Smart Alerts. Summaries are provided for a contextual view, including associated risk factors, for faster remediation. Explanations clarify alert scores, allowing analysts to demonstrate to stakeholders and regulators why particular transactions were blocked or processed. 

Based on actions taken on alerts by analysts, the machine learning algorithms use a continuous feedback loop to further increase efficiencies. 

See how our Fraud Detection solution helps focus your resources and efforts towards investigating genuine threats.

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Protect Your Customers with Real-Time Transaction Fraud Detection

Almost half of businesses globally have experienced fraud or a related economic crime in the last 24 months. What’s more, according to PwC, the risk of exposure grows as companies scale. 38% of businesses with less than $100m in revenue reported experiencing fraud, while the figure for firms with more than $10bn in revenue was 52%.

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What is Payment Fraud?

Customers must trust that their money is in safe hands. But one of the most challenging aspects of recognizing and tackling payment fraud is the complexity of the interconnected networks that underpin it.

Learn More
Protect Your Customers with Real-Time Transaction Fraud DetectionAlmost half of businesses globally have experienced fraud or a related economic crime in the last 24 months. What’s more, according to PwC, the risk of exposure grows as companies scale. 38% of businesses with less than $100m in revenue reported experiencing fraud, while the figure for firms with more than $10bn in revenue was 52%. Array
What is Payment Fraud?Customers must trust that their money is in safe hands. But one of the most challenging aspects of recognizing and tackling payment fraud is the complexity of the interconnected networks that underpin it.Array

Get started with ComplyAdvantage today

Request a demo to see how our fraud detection capabilities can focus your time, resources and efforts towards investigating genuine threats.