With the emergence of authorized push payment (APP) fraud, banks need to apply greater focus on incoming payments that go directly to the criminal’s accounts. This is where money mules come into play, enabling criminals to move illicit funds to accounts they control. In the UK, new regulations require banks to extend fraud monitoring to both inbound and outbound payments. Other countries, including the US and Australia, are considering similar measures. Understanding the intricate dance between mule risk modeling and fraud detection becomes paramount as banks navigate this transformative phase. Learn how Feedzai delivers state-of-the-art, AI-driven tools for inbound payment fraud prevention capabilities and empowers banks to stay one step ahead of shifting regulations. Key Benefits: Regulatory Compliance: Ensure your bank remains at the forefront of the latest fraud prevention regulatory frameworks. Inbound Payment Focus: Transition from traditional methods to a comprehensive inbound monitoring approach. Mule Account Detection: Leverage AI and machine learning to counteract money mule operations effectively. Inbound-Payment-Fraud-Detection

Inbound Payment Fraud Detection & Mule Risk Modeling: Protect Your Reputation and Minimize Losses

Proactively combat authorized payment fraud, outsmart money mules, and safeguard your institution’s bottom line.

Banks are losing the fight against inbound payment fraud. Traditional outbound monitoring isn’t enough to combat sophisticated authorized payment scams. Financial institutions must take a proactive approach by:

  • Focusing on Incoming Payments: Identify fraudulent inbound transactions and stop money from leaving victims’ accounts.
  • Unmasking Money Mules: Disrupt criminal networks by detecting mule accounts at all stages – account opening, ongoing activity, and inbound payment receipt.

Inbound Fraud Detection is Critical

  • Meet Evolving Regulations: Proactive inbound fraud monitoring ensures compliance with emerging regulations like the UK’s PSR 23/4 and potential US liability shifts.
  • Reduce Fraud Losses: Stop fraudsters in their tracks, leading to significant financial savings.
  • Boost Customer Trust: Minimize scam victimization, build loyalty, and gain a competitive edge.

The Feedzai Difference
Feedzai’s AI-powered RiskOps platform delivers unparalleled protection against inbound payment fraud and mule activity:

  • 360-Degree Mule Detection: Identify mules at every stage with account risk monitoring, real-time inbound payment analysis, and ongoing behavioral profiling.
  • AI-Driven Accuracy: Anomaly detection, link analysis, and automated machine learning pinpoint risk patterns with precision.
  • Rapid Adaptation: Outsmart evolving fraud tactics with flexible data science tools and model deployment.

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We’ve successfully replaced every major provider, reducing fraud losses each time. Schedule a free risk assessment, and we’ll uncover hidden vulnerabilities in your current defenses, revealing the true cost of fraud to your business.

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Page printed in November 21, 2024. Plase see https://www.feedzai.com/resource/inbound-payment-fraud-mule-detection-protect-your-bank for the latest version.