Fraud Risk Indicator

Fraud Risk Indicator (FRI) is a solution on top of IBAN-Name Check which is meant for implementation at the Fraud Detection / Transaction Monitoring system, not in the front-end. Essentially, it provides additional data points; risk indicators that will help the bank to determine whether there’s an increased risk or a decreased risk of fraud. This helps to prevent fraud because additional fraud cases can be spotted upon payment initiation thanks to risk increasers, like when an account is recently opened. It also helps to lower the number of false positives on the fraud analysts backlog, thanks to risk decreasers like the number of account holders. This first module contains extra account context, in the future more modules will be added. For example a connection with databases of local authorities on fraud or activity indicators on a bank account.