Are Identity Threats and Manual Processes Draining Your Resources?
Streamline your operations, protect your revenue, and enhance customer trust by addressing identity threats and reducing manual processes.
High Exposure to Identity Fraud
Synthetic IDs and account takeovers drain float funds, trigger chargebacks, and erode sender trust.
Manual Compliance Workflows
Hand-checking KYC/AML alerts slows onboarding and keeps funds in limbo, frustrating new migrants.
Excessive False Positives
Rule-based filters block legitimate first-time senders, driving abandonment and costly support calls.
Rising Investigation Overheads
Analysts juggle spreadsheets and siloed tools, inflating labor costs and lengthening dispute cycles.
FraudNet Solutions: Safeguard Transactions, Streamline Compliance
Enhance security and efficiency, reducing risks and costs for remittance companies with FraudNet's advanced solutions.
Transaction Monitoring
Spot and stop suspicious transfers in real time.
Automated KYC & AML
Screen senders and beneficiaries without manual queues.
Anomaly Detection
Surface policy breaches before losses escalate.
Unified Case Management
Prioritize, document, and resolve alerts in one hub.
AI-Native Real-Time Detection
FraudNet instantly evaluates each remittance, effectively blocking up to 88% of fraud-related chargebacks. This rapid, AI-driven detection not only safeguards your float funds but also enhances sender trust, ensuring smoother transactions and protecting your bottom line from fraudulent activities.
97 % Fewer False Positives
Unlock seamless transactions with adaptive models that accurately identify and approve genuine first-time senders. This reduces false positives, protects your revenue, and enhances customer satisfaction, ensuring your remittance service remains efficient and trusted by users worldwide.
66 % Lower Operational Costs
Streamline your operations with automated reviews and a centralized investigator workspace, drastically reducing manual effort and audit preparation time. Experience up to 66% lower operational costs, allowing your team to focus on expanding services and enhancing customer satisfaction in the remittance industry.
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 deceptive practices where fraudsters exploit money transfer systems to steal funds. Common tactics include phishing scams, where fraudsters impersonate legitimate entities to gain access to sensitive information, and identity theft, where a person’s identity is used to divert remittances. This type of fraud can lead to significant financial losses for both individuals sending money and the institutions facilitating these transfers.
How can I identify potential signs of remittance fraud?
Potential signs of remittance fraud include unexpected changes in transaction patterns, discrepancies in sender or recipient information, unsolicited requests for personal or financial information, and communication from unfamiliar sources pretending to represent known entities. Additionally, transactions that involve unusual amounts or frequency may also indicate fraudulent activity. Remittance companies should employ robust monitoring tools and conduct regular training to help staff identify these warning signs.
What are common methods used by fraudsters in remittance fraud?
Fraudsters use several methods in remittance fraud, such as phishing emails that trick individuals into revealing personal information, social engineering tactics to manipulate victims into sending money, and using fake identification to collect funds. They may also hack into accounts or use malware to redirect funds. Staying informed about these tactics and employing cybersecurity measures can help mitigate the risks of remittance fraud.
How can remittance companies protect themselves from fraud?
Remittance companies can protect themselves by implementing advanced fraud detection software, regularly updating security protocols, and conducting comprehensive employee training on the latest fraud schemes. Additionally, companies should enforce strict compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, as well as employ multi-factor authentication for transactions to verify the identities of senders and recipients.
What steps should be taken if remittance fraud is suspected?
If remittance fraud is suspected, it is crucial to act swiftly by immediately suspending the suspicious transaction and conducting a thorough investigation. The company should notify relevant authorities and inform affected customers. Additionally, reviewing the transaction logs to identify patterns or connections to other fraudulent activities can provide insights. Strengthening security measures and conducting a post-incident analysis can prevent future occurrences.
Why is it important to report remittance fraud incidents?
Reporting remittance fraud incidents is essential as it helps in tracking and mitigating fraud trends, protecting the financial ecosystem, and preventing further victimization. It enables law enforcement and regulatory bodies to identify and dismantle fraud networks. Moreover, reporting helps improve industry standards and practices by providing valuable data that can enhance detection tools and strategies, ultimately safeguarding both consumers and businesses in the remittance sector.