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Fraud Detection
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| A fraud is an intentional hoax made for a personal gain or to damage another individual. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and is also a civil law violation. Many hoaxes are fraudulent, although those not made for personal gain are not technically frauds. The mostly widespread type of fraud is Defrauding people of money. |
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| Stigasoft Fraud Detection Team Stops the Fraud before the Transfer. |
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| Basically, a Fraud occurs in the following areas: |
- Credit Card Fraud
- Internet Transaction Fraud / E-Cash fraud
- Insurance Fraud and Health Care Fraud
- Money Laundering
- Intrusion into computers or computer networks
- Telecommunications Fraud
- Voice Over IP (VOIP) Fraud
- Subscription Fraud / Identity Theft
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| Stigasoft’s highly skilled Fraud Analyst detects the fraud based on the available data that is produced by the behavior of the customers and fraudsters. |
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| Stigasoft’s Fraud Detection Team Module has the power to calculate and examine thousands of transactions per second. Real-time monitoring and proactive fraud detection is designed to stop suspicious transfers before funds leave the account. If a transaction exceeds the risk score threshold, our fraud team receives an alert and the account user may be required to respond to a challenge from a range of authentication options. If they fail, the transaction is terminated according to rules set by our team. |
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| Stigasoft’s Fraud Detection Team Module uses exclusive, customizable models to monitor funds transfers, electronic bill payments, and online check requests. |
- Source account - based detection compares recent activity with average daily balance and account history.
- Destination account - based detection automatically accumulates risk levels for destination institutions with suspicions activity.
- Account details - based detection monitors recent changes to account information such as address and contact changes.
- User behavior - based detection raises the risk if the current transaction is anomalous when compared to historical user behavior, including transaction amount, destination account and dates and frequency of transfers.
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Stigasoft’s Expertise:
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- Reduce wire transfer fraud losses and impact to customer relationships
- Comply with Faster Payment timeframes, as well as other service level agreements
- View risk exposure across the customer relationship – enabling operational and software consolidation that drive efficiency, cost savings and fraud reductions
- Prioritize alerts and manage alerts more efficiently – lowering labor force costs
- Benefit from the expertise of internal fraud managers and develop either simple or complex rules, and do it on the fly, to stay on top of evolving fraud trends
- Strategic solution on which to deploy enterprise-wide fraud monitoring operations
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| Stigasoft’s Fraud detection team uses various tools like Maxmind, Targus, and other related tools for fraud detection. It provides real time fraud analysis for their clients. |
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| Contact Us for our Fraud Detection Services. |
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