Is Your Remittance Business Struggling with These Pain Points?
Identify vulnerabilities, streamline operations, and enhance customer trust by addressing critical challenges faced by remittance businesses today.
High Exposure to Account Takeover Fraud
Remitters are prime targets for credential-stuffing and SIM-swap attacks that divert funds, trigger chargebacks, and erode customer trust.
Cross-Border Compliance Complexity
Operating in dozens of corridors forces you to juggle KYC, AML, FATF, and OFAC rules—all with stiff penalties for missteps.
Manual, Error-Prone Workflows
Spreadsheet-driven onboarding and case reviews slow payouts, inflate head-count costs, and leave gaps fraudsters exploit.
Sky-High False Positives
Generic rule sets flag legitimate migrant senders as risky, creating friction, abandoned transfers, and lost lifetime value.
Fortify Your Platform with FraudNet's Advanced Solutions
FraudNet streamlines security and compliance, protecting remittance businesses from fraud and regulatory challenges.
Entity Screening
Real-time KYC, sanctions, PEP, synthetic ID checks
Suspicious Login Detection
Behavioral biometrics block credential-stuffing ATOs
Transaction Monitoring
Millisecond risk scores on every remittance
Mule Detection Models
Pattern analysis spots high-velocity mule rings
AI-Native Real-Time Protection
With FraudNet's rapid scoring, assess logins and transfers in under 300 milliseconds, ensuring funds remain secure within your platform. Prevent account takeovers and maintain customer trust by stopping fraudulent activities before they have a chance to impact your operations.
Global Intelligence & Geo-Risk Mapping
Leverage shared fraud signals and geo-risk insights to identify high-risk corridors, ensuring your platform remains secure while allowing legitimate diaspora remittances to flow seamlessly. Protect your business and build trust with customers by minimizing disruptions and maximizing transaction security.
Unified Compliance Automation
Streamline your compliance with our unified console that auto-generates audit trails and SARs. Reduce manual workload and ensure seamless adherence to diverse jurisdictional regulations, protecting your business from penalties while maintaining smooth, cross-border remittance operations. Stay compliant effortlessly and focus on growth.
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 account takeover in the context of remittance services?
Account takeover in remittance services refers to an unauthorized party gaining access to a user's remittance account. This often involves stealing login credentials through phishing, malware, or social engineering tactics. Once access is gained, the fraudster can manipulate the account to redirect funds, change account settings, or conduct unauthorized transactions, posing significant financial and reputational risks to both the service provider and the customer.
How can remittance companies detect and prevent account takeovers?
Remittance companies can prevent account takeovers by implementing multi-layered security measures. This includes deploying advanced authentication methods like multi-factor authentication, monitoring for unusual login patterns, using machine learning to detect anomalies, and providing regular security training to customers. Additionally, companies should ensure that their systems are updated against the latest vulnerabilities and conduct regular security audits to identify and mitigate potential risks.
What role does multi-factor authentication play in preventing account takeovers?
Multi-factor authentication (MFA) significantly enhances account security by requiring users to provide two or more verification factors to gain access. In the context of remittance accounts, MFA can prevent unauthorized access even if login credentials are compromised. By combining something the user knows (password) with something they have (a mobile device for a verification code), MFA acts as a robust barrier against account takeovers, making it a critical component of remittance account security strategies.
Why is anomaly detection important in preventing account takeovers?
Anomaly detection is crucial because it helps identify unusual patterns or behaviors that may indicate fraudulent activities. In remittance services, this could mean detecting logins from unfamiliar locations, sudden changes in transaction volume, or modification of account details. By using machine learning algorithms, companies can analyze vast amounts of data in real-time to flag and respond to potential account takeovers promptly, minimizing the risk of financial loss and enhancing customer trust.
How can customer education help in preventing account takeovers?
Customer education is vital in preventing account takeovers by empowering users with knowledge about security best practices. Educating customers about recognizing phishing attempts, securing their devices, and the importance of strong, unique passwords can significantly reduce the risk of credential compromise. Providing resources, alerts, and regular updates about potential threats keeps security top-of-mind for users, fostering a culture of vigilance and collaboration between customers and remittance providers.
What steps should be taken if an account takeover is suspected or detected?
If an account takeover is suspected, immediate steps should include freezing the affected account to prevent further unauthorized transactions, notifying the account holder, and conducting a thorough investigation to understand the breach's scope. Customers should be instructed to change their passwords and verify recent transactions. It's also crucial to identify and address the security gap that allowed the breach, update affected systems, and strengthen security measures to prevent future incidents.