Vocalink Analytics and NatWest worked together to develop, test and launch Corporate Fraud Insights, which identifies and flags suspicious non-real time payments. The system is designed to detect and prevent invoice redirection fraud, where businesses are tricked to send money to a fraudster’s account rather than to their intended supplier.
The company applies analytical techniques to vast amounts of payments data to build models which identify suspicious activity. Every time a business pays an invoice, a behavioral signature is left behind. By analysing these signatures, and the signatures of historical frauds, they are able to identify and flag suspected incidents of fraud.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now