Austreme gains patent for its Card Testing Fraud Detection technology

Friday 4 June 2021 15:19 CET | News

Hong Kong-based forensic fintech company Austreme has been granted a patent for its ecommerce card testing fraud detection system.

Card Testing Fraud Detection System is a device designed to integrate into the payment system to analyse and prevent fraudulent transactions. The transaction data receiver will feed required transaction details (such as amount, time, card number, IP address etc.) to the analytic engine for analysis and decision alert or blocking. Using pre-determined fraud detection rules that can be configured and adjusted for optimal results, the analytic engine automatically approves safe transactions, and rejects those that provide a negative result according to the detection rules.

Austreme is focused on forensic fintech, helping brand owners, acquiring banks and payment service providers monitor and detect online merchants’ illegal and brand-damaging transactions under international card associations’ global brand protection program. The company provides financial risk management services for customers globally, specialising in big data analytics, anti-transaction laundering, online store illegal content monitoring and merchant onboarding. 

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Keywords: fraud detection, cross-border ecommerce, credit card fraud, transaction monitoring
Categories: Fraud & Financial Crime
Countries: Hong Kong
This article is part of category

Fraud & Financial Crime

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