Are You Struggling with These Common Payment Fraud Challenges?
Protect your P2P platform from fraud, reduce user attrition, and minimize financial losses with our comprehensive security solutions.
High Account Takeover (ATO)
Credential stuffing and phishing give bad actors direct wallet access. Once inside, they initiate instant P2P transfers that are nearly impossible to claw back, driving chargebacks, support calls, and user attrition.
Social-Engineering Scams
Romance, family-emergency, and fake-invoice schemes trick legitimate users into authorizing payments. Because the sender presses “confirm,” disputes are hard to win and losses often sit on your balance sheet.
Instant Settlement Exposure
Real-time payouts leave seconds to react. Manual reviews can’t keep pace, allowing fraudsters to hop funds through multiple accounts and cash out before any hold can be placed.
Synthetic Identity Proliferation
Fraudsters stitch together real and fake data to create credible-looking users, pass KYC checks, and build history before executing large fraudulent sends or referral abuse.
Empower Fraud Prevention with FraudNet Solutions
Protect your P2P payment platform with FraudNet, reducing fraud and enhancing user trust instantly.
Real-Time Transaction Monitoring
Score every payment instantly; auto-block suspicious P2P transfers before funds leave.
Smart Onboarding Screening
Verify new users against AML rules and device risk to stop fake or stolen identities.
Behavioral Biometrics
Spot unusual typing, GPS or device shifts that indicate social engineering or ATO.
Anomaly-Detection Engine
Detect outlier behavior across accounts to uncover mule rings and promo abuse.
AI-Native Precision
Harness the power of FraudNet’s AI-driven precision to slash P2P fraud losses by up to 70%. By integrating machine learning with global fraud insights, we ensure minimal false positives, enabling genuine users to transfer funds seamlessly and securely.
Unified Case Workflow
Streamline your fraud investigations with a unified console that consolidates alerts, evidence, and chat logs. Automated triage reduces analyst time by 50%, while ensuring audit-ready trails for Reg E compliance and network dispute rules, enhancing efficiency and security.
Faster Time-to-Value
Deploy our solution in just weeks with pre-built P2P scam typologies, no-code rule editing, and scalable APIs. Achieve measurable ROI swiftly, ensuring you're prepared and protected before the next fraud surge impacts your operations and bottom line.
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 is P2P fraud in the context of payment systems?
P2P fraud in payment systems involves unauthorized transactions where a fraudster exploits peer-to-peer platforms to illicitly transfer funds. This can occur through tactics like phishing, account takeover, or using stolen credentials. The goal is typically to deceive one party into giving up financial information or authorizing a fraudulent transaction, which can lead to financial loss and compromised personal data.
How can P2P fraud be detected in payment workflows?
P2P fraud detection often involves a combination of real-time monitoring, machine learning algorithms, and behavioral analysis. These systems look for anomalies in transaction patterns, such as unusual transaction amounts, geographical discrepancies, or rapid sequences of transactions. Additionally, flagging new device logins and unrecognized IP addresses can help identify potential fraud. Continuous updates and learning from new fraud patterns are crucial for maintaining effective detection.
What steps are involved in a P2P fraud investigation workflow?
A typical P2P fraud investigation workflow includes identifying suspicious activity, gathering and analyzing transaction data, and verifying user identities. Investigators may also review communication logs and transaction histories to understand the context of the suspected fraud. Once confirmed, they work to halt unauthorized transactions, recover funds if possible, and prevent future incidents by updating security protocols and educating users.
How can P2P payment companies prevent fraud?
P2P payment companies can prevent fraud by implementing robust authentication measures, such as multi-factor authentication and biometric verification. Regularly updating security protocols and employing advanced machine learning algorithms to detect anomalies in transaction data are also essential. Educating users about common fraud tactics, encouraging them to report suspicious activities, and offering easy-to-use security features can further enhance fraud prevention efforts.
What role does machine learning play in P2P fraud detection?
Machine learning is pivotal in P2P fraud detection as it enables systems to identify patterns and anomalies in large datasets effectively. By training on historical transaction data, machine learning models can predict potential fraudulent activities by recognizing unusual patterns or behaviors that deviate from a user's typical transaction history. These models continuously improve by learning from new data, helping to enhance the accuracy and efficiency of fraud detection over time.
What should users do if they suspect they've been a victim of P2P fraud?
If users suspect they've been a victim of P2P fraud, they should immediately contact their payment provider to report the suspicious activity. It's crucial to freeze the affected accounts to prevent further unauthorized transactions. Users should also change their account passwords and review recent transactions for any unrecognized activities. Additionally, they may need to monitor their financial statements and consider placing fraud alerts with credit bureaus to safeguard their personal information.