Are You Struggling with These Critical P2P Fraud Challenges?
Safeguard your platform from fraud, protect user trust, and minimize losses with robust solutions for P2P payment security.
High Account-Takeover Rates
P2P wallets are prime targets for credential stuffing and SIM-swap attacks. Once inside, fraudsters drain balances or reroute linked bank funds, leaving providers to absorb losses and handle chargebacks while user trust plummets.
Sophisticated Social-Engineering Scams
Romance, family-emergency, and fake-invoice cons exploit the instant, irreversible nature of P2P transfers. Victims authorize payments themselves, making post-transaction recovery—and liability assignment—exceptionally difficult for platforms.
Real-Time Transaction Exploits
Because payouts clear in seconds, fraud teams have only milliseconds to spot anomalies. Legacy batch reviews miss fast-moving mule networks, exposing P2P firms to cascading losses and regulatory scrutiny.
Rising Synthetic-Identity Fraud
Fraudsters blend stolen and fabricated data to open ‘clean’ accounts that age for weeks before cash-out. Traditional KYC checks rarely flag these profiles, creating long-tail exposure across referral programs and credit products.
Secure Transactions Instantly with FraudNet Solutions
Protect your P2P platform with advanced fraud detection, enhancing security and trust for your users.
Real-Time Transaction Monitoring
Score and block risky sends in <300ms
Entity Screening & Onboarding
Verify users against AML, KYC, and fraud lists
Behavioral Biometrics
Spot abnormal speed, touch, and device changes
Anomaly Detection Engine
Alert when activity diverges from user norms
AI-Native Real-Time Detection
FraudNet analyzes every P2P transaction in milliseconds with advanced machine-learning models and global insights. It proactively blocks evolving scams before funds exit your system, minimizing fraud losses and false positives, ensuring a secure, seamless experience for both you and your users.
Unified Insights & Case Workflow
Consolidate device, behavioral, and watch-list data in a single interface. Streamlined triage and evidence collection significantly reduce analyst review time, slash operational expenses, and expedite compensation for impacted users, enhancing trust and ensuring seamless operations for P2P payment companies.
Built-In Compliance Confidence
Ensure compliance with AML, PSD2, and CFPB through dynamic rule sets and continuous monitoring. Our auditable reports not only satisfy regulatory demands but also enhance user experience, driving increased adoption and retention for your P2P payment platform.
Impact & Results
Delivering Results that Matter
We don’t just promise better fraud control—we deliver tangible improvements that protect your business.
97%
Fewer False Positives
Approve more valid transactions confidently.
88%
Fraud Reduction
Experience double-digit reductions in fraud-related chargebacks
60%
Cost Savings
Save time and resources while securing your revenue.
Why FraudNet
Future-Proof Your Fraud & Risk Program
With an integrated platform designed for precision, agility, and impactful results, enabling your team to make smarter decisions, improve operational efficiency, and fuel your business growth.
Customizable & Scalable
No-code rules engine, flexible dashboards, and tailor-made machine learning models that are designed to adapt seamlessly and scale alongside your business.
End-to-End Platform
Unify fraud detection, compliance, and risk management into one powerful solution, saving valuable time and streamlining your operations.
AI Precision You Can Rely On
Reduce false positives, detect and prevent more fraud, and mitigate risk with highly accurate, real-time risk scoring and anomaly detection you can trust.
Real-Time Fraud Intelligence
Leverage advanced analytics, comprehensive reporting, and our Global Anti-Fraud Network to make faster, smarter decisions on the spot.
Testimonials
Real Success From Real Teams
Fraud.net’s flexibility has helped our AfterPay business grow by allowing us to meet our increasingly complex customer and country requirements. Their platform has enabled Arvato to increase our agility and significantly reduce fraud attacks.
Director Risk & Fraud, Arvato
FraudNet's combination of customized machine learning and flexible rules management has been transformative. We've achieved dramatic efficiency gains while maintaining robust fraud protection - a game-changer as we navigate evolving regulatory requirements.
Head of Financial Crime, Countingup
The great usability of Fraud.net is night and day when comparing it to our prior risk prevention platform. Reporting is also faster, more straightforward, and more impactful. With Fraud.net, we can easily visualize and share findings, providing our leadership with a clear understanding of the return-on-investment for our activities in real-time.
Fraud Manager, Global Financial Institution
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FAQs
What are some common P2P fraud tactics?
Common P2P fraud tactics include account takeover, where fraudsters gain unauthorized access to a user's account, and phishing scams, where they trick users into disclosing sensitive information. Other tactics involve SIM swapping to intercept communication, social engineering to manipulate victims into transferring funds, and fake app clones that mimic legitimate P2P payment apps to steal credentials.
How do fraudsters typically execute account takeovers in P2P systems?
Fraudsters often execute account takeovers by using stolen credentials obtained from data breaches or phishing attacks. They may also employ social engineering techniques to gather enough information to reset passwords or exploit weak security measures. Once in control of an account, they can initiate unauthorized transactions or change account settings to prevent the real user from regaining access.
What role does social engineering play in P2P fraud?
Social engineering plays a significant role in P2P fraud by manipulating users into divulging confidential information or performing actions that compromise their accounts. Fraudsters may pose as trusted entities, such as bank representatives or friends, to gain victims’ trust. Common tactics include impersonation through phone calls, emails, or text messages, urging victims to verify accounts or provide personal details under false pretenses.
How can machine learning help in detecting evolving P2P fraud tactics?
Machine learning can help detect evolving P2P fraud tactics by analyzing vast amounts of transaction data to identify patterns and anomalies indicative of fraudulent activity. It can learn from historical fraud trends to predict new threats and adapt to changes in fraudster behavior. Machine learning models can also flag unusual transaction behaviors in real-time, providing a dynamic defense against sophisticated and evolving fraud schemes.
What are some prevention strategies for P2P payment companies to combat fraud?
P2P payment companies can combat fraud with several strategies, including implementing multi-factor authentication to secure user accounts and using encryption to protect data in transit. Regularly updating security protocols and software helps mitigate vulnerabilities. Companies should also educate users on recognizing phishing attempts and the importance of maintaining strong, unique passwords. Additionally, employing real-time transaction monitoring and machine learning models can help detect and respond to suspicious activities promptly.
How do synthetic identities contribute to P2P fraud?
Synthetic identities contribute to P2P fraud by combining real and fake information to create new identities that are hard to detect. Fraudsters use these identities to open accounts, build creditworthiness, and eventually execute fraudulent transactions with minimal risk of detection. These identities may go unnoticed until significant financial damage is done, as they often bypass traditional identity verification processes, making them a potent tool in sophisticated fraud schemes.