Are You Struggling with Identity Fraud and Regulatory Compliance Challenges?
Streamline operations and enhance trust by tackling identity fraud, money laundering risks, and complex regulations with our comprehensive solutions.
High Exposure to Identity Fraud
Synthetic IDs and account takeovers drain float funds, trigger chargebacks, and erode customer trust—especially when senders expect instant payouts.
Mule Accounts & Money Laundering
Fraudsters route illicit funds through small, rapid transfers, putting remittance firms at risk of frozen bank rails and regulatory fines.
Regulatory Complexity Across Borders
Juggling KYC, AML, FATF, and OFAC rules in dozens of corridors inflates compliance costs and can delay legitimate transfers.
Manual, Error-Prone Reviews
Human review queues for ID checks and AML alerts slow onboarding, frustrate users, and create costly compliance gaps.
Strengthen Your Defense with FraudNet Solutions
Fraudnet safeguards remittance firms, boosting compliance and fraud prevention without slowing transfers.
Entity Screening
Real-time KYC/PEP checks block fake senders without slowing onboarding.
Transaction Monitoring
Scores each transfer instantly, flagging AML or fraud anomalies.
Geographic Risk Mapping
Adds location risk to decisions, auto-blocking sanctioned corridors.
Mule Detection Models
Behavioral AI spots mule patterns like rapid low-value payouts.
AI-Native Real-Time Detection
FraudNet's AI-native system scores IDs, devices, and transfers in milliseconds, halting fraud before funds exit your platform. It ensures a seamless user experience, safeguarding your remittance operations while maintaining trust and efficiency in money transfers.
Unified Fraud, AML & Compliance Hub
Streamline your compliance processes with our all-in-one console for screening, monitoring, and case management. Eliminate manual inefficiencies and ensure seamless global KYC/AML alignment—without the need for additional staff. Focus on expanding your remittance services while we handle the complexities.
Lower False Positives, Happier Customers
Our adaptive models streamline transactions for legitimate senders, minimizing drop-offs and enhancing customer retention. This means your business can expand its remittance corridors efficiently, focusing on growth rather than getting bogged down in lengthy review processes.
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 remittance fraud?
Remittance fraud involves deceitful activities where offenders trick individuals or financial institutions into sending money under false pretenses. This can include fraudulent emails, phone calls, or messages that impersonate legitimate entities, aiming to persuade victims to transfer funds. The fraudsters often use tactics like phishing, identity theft, or social engineering to gain access to sensitive information and facilitate unauthorized transactions.
How can customers identify potential remittance fraud?
Customers can identify potential remittance fraud by being vigilant about unexpected requests for personal information or urgent money transfers. They should always verify the identity of the sender through a trusted channel, be cautious of errors or inconsistencies in communications, and avoid clicking on suspicious links. Additionally, checking for secure websites (look for 'https') and being wary of deals that seem too good to be true can help in spotting fraudulent activities.
What steps should a customer take if they suspect they've been a victim of remittance fraud?
If a customer suspects they've been a victim of remittance fraud, they should immediately contact their remittance service provider to report the incident. It's crucial to provide as much detail as possible about the transaction and any communications received. Additionally, they should inform their bank to monitor for unauthorized transactions, report the fraud to local authorities, and consider placing alerts on their credit report to prevent further identity theft.
How do remittance companies protect customers against fraud?
Remittance companies protect customers against fraud by implementing robust security measures such as encryption, two-factor authentication, and transaction monitoring. They educate customers about recognizing phishing attempts and other scams and often have dedicated fraud detection teams that analyze transaction patterns for suspicious activities. Additionally, companies may provide alerts for unusual account activity and have procedures in place to quickly respond to and investigate reported fraud cases.
What are common indicators of a remittance fraud attempt?
Common indicators of a remittance fraud attempt include requests for immediate payment or personal information, unsolicited contact from unfamiliar sources, and communication that creates a sense of urgency or fear. Additional red flags may include poor grammar or spelling errors in messages, requests for payment through unconventional methods, or a lack of verifiable contact information. Always verify the identity of the sender through independent channels before proceeding with any transactions.
Why is customer awareness important in preventing remittance fraud?
Customer awareness is crucial in preventing remittance fraud because informed customers are better equipped to recognize and respond to fraudulent attempts. By understanding the tactics used by fraudsters, customers can take proactive measures to protect their personal and financial information. Awareness programs empower customers to verify suspicious requests for funds, report potential fraud quickly, and avoid falling victim to scams, thus playing a vital role in the broader security strategy of remittance companies.