Are Your Remittance Services Struggling with Identity Fraud, Money Laundering, and Compliance Challenges?
Protect your profits and reputation by tackling fraud, laundering, and compliance issues with efficiency and precision.
High Exposure to Identity Fraud
Synthetic IDs and account takeovers flourish on remittance apps, forcing you to absorb reimbursement losses, fund recovery costs, and reputational hits while still trying to offer instant payouts to a global, often thin-file customer base.
Mule Accounts & Cross-Border Laundering
Fraudsters exploit fast, low-fee transfers to cycle illicit funds through nested or newly created mule accounts, putting your firm at the center of complex money-laundering schemes and potential enforcement actions.
Regulatory Complexity in Multiple Jurisdictions
Operating across borders means tracking evolving KYC, AML, FATF, and OFAC mandates. Any oversight—whether a missed sanction hit or weak customer due diligence—invites fines, license restrictions, and costly remediation.
Manual, Siloed Compliance Workflows
Many remittance teams still review onboarding or AML alerts by hand. This slows customer activation, increases human error, and inflates operating costs just as transfer volumes surge.
FraudNet: Empowering Secure, Seamless Remittance Solutions
FraudNet enhances security and compliance, reducing fraud risk and operational costs for remittance companies.
Entity Screening
Real-time KYC, sanctions & synthetic ID checks at onboarding.
Transaction Monitoring
Instantly score each send for fraud and AML risk; auto-escalate alerts.
Geographic Risk Mapping
Enrich origin/destination data to apply location-based risk rules.
Mule Detection Models
Spot mule patterns via behavioral analytics; block high-risk accounts.
AI-Native Real-Time Detection
FraudNet's AI-driven technology scores each remittance in milliseconds, drastically cutting false positives and intercepting account takeovers, synthetic IDs, and mule activities before funds exit your platform. This ensures secure, seamless transactions while protecting your bottom line and reputation.
Unified Fraud & Compliance Console
Streamline your compliance operations with our integrated dashboard, merging fraud scoring, AML alerts, and case workflows. Empower your analysts to act swiftly, document decisions seamlessly, and meet regulatory demands effortlessly—all with comprehensive audit trails for complete peace of mind.
Scalable Automation That Cuts Costs
Leverage cutting-edge automation, machine-learning models, and global fraud intelligence to streamline operations. By eliminating repetitive reviews, you significantly reduce investigation costs while ensuring a seamless, secure experience for your customers, enhancing both efficiency and trust in your remittance services.
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
View More
FAQs
What are the common types of fraud in remittances?
Common types of fraud in remittances include identity theft, phishing scams, unauthorized account access, and money laundering. Fraudsters may also use tactics like social engineering to deceive individuals into revealing sensitive information or transferring funds under false pretenses. Remittance providers must remain vigilant and implement robust security measures to detect and prevent these fraudulent activities.
How can remittance companies prevent fraud?
Remittance companies can prevent fraud by implementing multi-factor authentication, employing advanced fraud detection systems, and conducting thorough customer due diligence. Regular employee training on recognizing fraud indicators and maintaining up-to-date security protocols is also crucial. Additionally, companies should establish clear communication channels with customers to report suspicious activities and educate them on safe practices.
What role does data analytics play in fraud prevention?
Data analytics plays a critical role in fraud prevention by analyzing transaction patterns, identifying anomalies, and predicting potential fraud scenarios. By leveraging machine learning algorithms and big data, remittance companies can detect unusual activities in real-time, enabling quicker responses to potential threats. This proactive approach helps in minimizing financial losses and maintaining customer trust.
Why is customer education important for fraud prevention?
Customer education is vital for fraud prevention because informed customers are better equipped to recognize and avoid potential scams. Educating customers about common fraud tactics, safe transaction practices, and the importance of safeguarding personal information can significantly reduce the risk of fraud. Providing regular updates and resources empowers customers to protect themselves and contributes to overall fraud prevention efforts.
How do regulatory compliance measures aid in reducing fraud?
Regulatory compliance measures aid in reducing fraud by establishing standards and guidelines for secure and transparent transactions. Compliance with regulations such as AML (Anti-Money Laundering) and KYC (Know Your Customer) requires remittance companies to implement stringent identity verification processes, monitor transactions, and report suspicious activities. These measures help in deterring fraudulent activities and ensuring the integrity of financial systems.
What should customers do if they suspect fraud in their transactions?
If customers suspect fraud in their transactions, they should immediately contact their remittance service provider to report the issue and halt any unauthorized activity. It's crucial to provide detailed information about the suspicious transaction to aid in investigation and resolution. Additionally, customers should monitor their accounts for further unauthorized activities and consider changing passwords or security settings to prevent future fraud attempts.