Fraud Prevention

It monitors significant transaction volumes and verifies their characteristics in Real Time (RT) to provide an immediate outcome, while identifying any fraud patterns, such as simultaneous use of a card in different or repeated locations and high-value transactions, in a short amount of time and with the same device or application.

The ACFS® Fraud Prevention functionality in the banking realm allows for the monitoring and analysis of emerging instant payments or rather the disposition of online payments with direct debit in bank accounts of the holder, towards individual or third party beneficiaries.

The detection component of ACFS® Fraud Prevention monitors already completed transactions (Near Real Time – NRT) and generates reports for transactions it flags as unusual.

The fraud management functionality of ACFS® Fraud Prevention provides operators with the tools to take charge of alerts, which can verify transactions and identify them as fraudulent. It also provides backoffice analysis and reporting functions.

The event component of ACFS® Fraud Prevention cross-references transactions with non-financial data (login portals or APP, tokenisation, card or IBAN checks, etc.) in real time, to provide an immediate outcome.

The Black/White List functionality of ACFS® Fraud Prevention can deny or authorize from the outset the transactions associated with data contained in the lists, in an advanced and dynamic way. Furthermore the evolved Clusters functionality, in addition to Black/White List makes it possible to set up rules based on any transaction data, guaranteeing greater flexibility and efficiency.

The ineffective configuration of a rule can lead to failure to identify a fraud or, on the other hand, to flag a legitimate transaction as fraudulent. Therefore, ACFS® Fraud Prevention makes it possible to test both the operation and the effects of the rules on recorded transactions, before activating them on new transactions.

ACFS® Fraud Prevention generates an alert every time a rule produces a transaction outcome, on different channels: a popup inside the application’s interface for operators, e-mail messages, text messages, as well as other reports via integrated services. All types of reports may contain any authorization details, with the scoring being calculated by the scoring system or master data.

It is the ACFS® Fraud Prevention functionality which, through the use of an AI & ML module, enriches the monitoring with a predictive risk score for the current transaction.

This module, through several Artificial Intelligence and Machine Learning algorithms, builds a predictive model for the risk associated with each transaction. Through the analysis of previous customer behaviour, the models increase the accuracy and the overall speed of the identification of anomalous transactions, both in regard to general risk behaviours and risk behaviours associated with specific payers. More than 100 variables are simultaneously taken into account, with as many associated predictive and adaptive models which automatically modify themselves to follow the evolution of fraudulent patterns and learn to anticipate both behaviours and risks. The quality of N&TS GROUP’s Artificial Intelligence and Machine Learning application stands out thanks to the use of custom templates, tailored to each organization and its data in relation to what it previously transacted.

ACFS® Fraud Prevention RBA makes it possible to assign a Risk Score to each 3DS transaction in real time, which is used to determine the owner’s authentication mode, on a scale ranging from the absence of any authentication (frictionless transaction), two-factor authentication (SCA), to denied transaction (high risk).

The  ACFS® Fraud Prevention TRA functionality is available for the completion of exemption strategies. In accordance with the regulatory requirements under PDS2, it ensures exemptions are granted only if the spent/fraud ratio of the last two quarters is kept within set thresholds.

The ACFS® Fraud Prevention module of spending control is geared towards authorization and accounting. It performs spot checks on authorizations and transfers, providing the ability to monitor and/or limit expenses by product category, geographical position, etc. of each client. It also ensures accurate counting, with greater historical depth of the real spent/recorded amounts for each customer, for long-term marketability analysis and comparisons.

The ACFS® Fraud Prevention Trusted Beneficiaries module provides the features needed to make it easier for a holder to add a new trusted beneficiary. Therefore, it is designed to facilitate frictionless authentication methods for online payments, in compliance with the regulations for reliable beneficiaries provided by the PSD2 legislation.

ACFS® Fraud Prevention offers configurable and dynamic dashboards to view data analysis geared towards both business and operations. The dashboards facilitate  the research and analyse of all data relating to all processed transactions,  all operations carried out in the system, all generated reports, all set or modified rules, all recorded events. They can also satisfy requests relating to the development of performance indicators in accordance with current regulations.