Is Your Business Struggling with Identity Fraud and Compliance Challenges?
Streamline your operations and safeguard your brand by minimizing identity fraud, compliance headaches, and operational costs.
High Exposure to Identity Fraud
Mule networks exploit lax KYC, using synthetic IDs and ATOs to siphon cross-border funds and tarnish brand trust.
Manual Compliance Workflows
Analysts juggle spreadsheets and disparate tools to clear AML flags, slowing payouts and heightening error risk.
Excessive False Positives
Generic rule sets mislabel new-to-country senders as risky, leading to abandoned transfers and soaring support tickets.
Rising Investigation Costs
Round-the-clock reviews, disputes, and chargebacks inflate payroll, eroding already thin remittance margins.
Empower FraudNet: Transform Compliance with Cutting-Edge Solutions
Streamline compliance, cut costs, and enhance trust with FraudNet's advanced fraud detection for remittance companies.
Entity Screening
Sanctions, PEP, synthetic ID, shell firm checks
Real-Time Transaction Scoring
Instant fraud-AML risk ratings per remittance
Behavioral Anomaly Alerts
Detect shifts in device, geo, or spend
Unified Case Management
Triage, evidence, and audit trails in one hub
AI-Native Fraud Detection
FraudNet leverages global intelligence and advanced machine learning to instantly identify and flag high-risk senders or transactions. This rapid detection minimizes potential losses, ensuring your remittance operations remain secure and efficient, while safeguarding your brand's reputation and bottom line.
Precision Reduces False Positives
Our adaptive models accurately pinpoint genuine anomalies, allowing trusted migrants to transfer funds without hassle. This precision reduces manual reviews by up to 60%, ensuring smoother transactions, enhancing customer satisfaction, and streamlining operations for your remittance business.
End-to-End Compliance Automation
Streamline your compliance with automated KYC and AML processes, ensuring you're always regulator-ready. Our audit-ready case trails reduce investigation costs, allowing you to focus on seamless cross-border transfers while maintaining the highest standards of security and efficiency.
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
Speak with our Solutions Expert Today
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Recognized by Industry Analysts
Related Resources
Other Services
FAQs
What is remittance fraud and how does it typically occur?
Remittance fraud involves the illegal or unauthorized transfer of funds across borders, usually exploiting weaknesses in financial systems. It often occurs through phishing attacks, identity theft, or social engineering scams where fraudsters impersonate legitimate entities to trick individuals or organizations into transferring money. Awareness and education about these methods can help prevent such fraud.
How can a remittance company begin an investigation into suspected fraud?
To start an investigation, a remittance company should first gather all relevant transaction data, including sender and receiver details, timestamps, and transaction amounts. The company should then analyze this data for unusual patterns or discrepancies and consult internal records for any prior suspicious activity. Collaboration with financial institutions and law enforcement agencies may be necessary for deeper investigations.
What role do data analytics play in remittance fraud investigations?
Data analytics is crucial in identifying patterns and anomalies that may indicate fraudulent activity. By analyzing transaction data, companies can detect unusual behaviors, such as rapid transfers to high-risk regions or transactions just below reporting thresholds. Advanced analytics tools can also help in predicting potential fraud by using machine learning algorithms to model typical customer behavior and flag deviations.
How can remittance companies protect themselves from fraudsters?
Remittance companies can protect themselves by implementing robust security measures such as multi-factor authentication, encryption, and regular audits of their systems. Employee training programs about recognizing and reporting suspicious activity are essential. Additionally, establishing strong partnerships with banks and compliance with international financial regulations can enhance security and reduce the risk of fraud.
What steps should be taken once a fraudulent transaction is confirmed?
Once a fraudulent transaction is confirmed, the company should immediately freeze the transaction and notify the affected parties. They should conduct a comprehensive review to understand how the fraud occurred and assess the extent of the breach. Reporting to relevant authorities and updating internal policies to prevent future occurrences is also crucial. Implementing corrective measures promptly can mitigate potential losses.
How important is customer education in preventing remittance fraud?
Customer education is vital in preventing remittance fraud. By informing customers about common scams, secure transaction practices, and the importance of safeguarding personal information, companies empower them to recognize and avoid potential threats. Regular communication through newsletters, workshops, and alerts about new fraud trends can significantly reduce the likelihood of customers falling victim to scams.