Prevent retail

payment fraud
FAC TS HEET

+$362M +71%
Retail payment fraud
and scams are on
the rise 2018 US losses from confidence fraud increase in confidence fraud/romance
Through social engineering and /romance scams scams in the USin 2018
cyberattacks, fraudsters trick

+£228M +112%
consumers into making payments
into accounts they control or use
sophisticated malware to take over
an account.
2018 UK consumer losses to authorised increase in authorised push payment
push payment scams scams in the UK in 2018

Our capability to prevent retail payment fraud pinpoints likely incidences of

authorised and unauthorised fraud, so financial institutions can stop fraudulent
transactions before funds are lost forever, protecting their customers.

+20B
Leverage the power of consortium payments data

• Utilises a deep pool of historical transactions and known frauds as key inputs
transactions analysed to analytics
trillions in $ value

Consortium Cutting-edge analytical approaches

intelligence
• Applies behavioral models with modern machine-learning techniques for a
protection from threats learned multi-layer analytical approach with dramatically lower false positives
across the globe​

+80%
Superior fraud detection results

• Highly accurate detection

detection rate for retail fraud • Low full-time employee (FTE) requirements to achieve high performance
and scams with low false positives
• Meta-data and flags allow analysts to work efficiently

• Can supplement existing suite of fraud solutions

F I N A N C I A L C R I M E S O L U T I O N S : P R E V E N T R E TA I L PAY M E N T F R A U D 1
Protect your retail banking customers from payments-related fraud and
scams and build a higher level of confidence and trust.

Prevent customer losses Differentiate and Create efficiencies and

Delivers robust fraud protect bank reputation generate cost savings
detection results Stops fraud before money Only the most suspicious
leaves a victim’s account transactions are picked up,
enabling prioritization

Proposed approach | Diagnostic

To get started, a 10-week diagnostic is recommended where our tools can assess the problem and report back on how we can
help solve it.

Activities and outputs

Financial Institution

Inputs: Calibrate and iterate the model

to achieve mutually agreed
• 12-24 months historical
detection threshold
txn data
• 12-24 months confirmed
fraud data

Activities: Stand up Run final scoring of suspect fraud Present

• Sign legal agreements infrastructure transactions in FI portfolio deliverables
and SoW and ingest data and analysis to FI
• Nominate resource to
working group
• Provide feedback and
guidance as needed Produce model performance
throughout report – e.g. accuracy, detection
rate, alert rate

1. 2018 IC3 Report, FBI For more information vocalink.com/financialcrimesolutions

2. UK Finance Report info@vocalink.com

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