Payments Fraud

Overview

Money is moving fast, and consumers need the assurance their payments are safe

Payments fraud is a relentless problem — you stop one fraud attack but another starts as fraudsters agilely reinvent, looking for the weakest link across channels and lines of business. Enterprise fraud management with industry-proven AI models is essential for continuous, contextual, and real-time payments fraud protection.

Fraud finds its way into all payment channels — new and old

Protect all the payment channels with contextual machine learning and AI that intuitively classifies legitimate and fraudulent financial transactions while recognizing the individual consumer behavior preferences for a convenient and secure experience. Payment types susceptible to fraud include:

Real-Time / Instant Payment Schemes

UK Faster Payments, SEPA Credit Transfer, Brazil’s PIX

Person to Person (P2P)

Venmo, Dwolla, Zelle

Mobile Wallets

Apple Pay, Google Pay, Android Pay

Payment Cards

Credit, Debit, Prepaid, Commercial

Online Banking

ACH, Direct Debit, Bank Transfer

Wires

SWIFT, Federal Reserve Wire Network, Clearing House Interbank Payments System

Solutions

FICO solutions offers a wide range of capabilities, empowering you to make smarter, personalized decisions, streamline operations, and improve the customer experience.

Enterprise Fraud

For banks to protect their customers and their bottom line with more contextual decisions, an enterprise fraud approach is an imperative.

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Real-Time Payments Fraud

Protect your customers by detecting fraud across all vectors of attack impacted by real-time payments.

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Credit and Debit Card Fraud

Card fraud has evolved — are your defenses prepared?

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Compromise Detection

Utilize consortium data to identify a compromised merchant before your cardholders.

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Fraud and Financial Crimes Convergence

Protect your customer experience and future-proof your defenses with integrated fraud and financial crimes technology.

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FICO Advisory Services

Partner with us for deep decision making insights, increased business analytic knowledge and a vision for your longer term strategic direction.

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From the FICO Blog

Instant Payments Mean Real-Time Payments Fraud

The global adoption of real-time payments schemes, alongside the problems suffered by early adopters, has turned the focus to real-time payments fraud.