Payments Fraud

Payments Fraud

Protect global payments and identify money mules with consortium analytics.

With a network of thousands of financial institutions in the Cloud, Nasdaq Verafin’s consortium data approach delivers insights into counterparty risk that significantly improves payments fraud detection and reduces false positives.

Consortium of

2500

financial institutions

Insights from

575M

account profiles

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In a recent Proof of Concept with a Global Tier 1 Bank, Nasdaq Verafin delivered a 25% reduction in false positives and a 250% improvement in wire fraud detection by value.

ENRICHED ACCOUNT PROFILES

Account profiles are developed using rich demographic and payment transaction data from across our consortium. Nasdaq Verafin uses this unique consortium data set to deliver insights into counterparty risk.

BENEFICIARY RISK

Our consortium approach provides a more complete picture of risk for added confidence that payments are destined to the right beneficiary, protecting your institution and your customers.

CONSORTIUM ANALYTICS

Consortium Analytics leveraging big data and cross-institutional analysis, without sharing Personally Identifiable Information (PII), reduce false positives by identifying low risk accounts, and alert to higher-risk payments when an account is unknown to the network.

REAL-TIME INTERDICTION

Nasdaq Verafin provides real-time interdiction to release or reject a payment directly from an alert or case, providing an additional layer of protection for your customers and your institution.

Flexible Product Offerings

With flexible product offerings, from real-time risk scores for use in your existing transaction monitoring solution to end-to-end payments fraud solutions including transaction monitoring, real-time interdiction, and alert and case management functionality, Nasdaq Verafin can help your institution effectively fight fraud.

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Real-time Risk Scores via API
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Real-time Payments Monitoring
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Enterprise Fraud, Alert & Case Management

Stop Money Mules in their tracks. From Authorised Push Payment fraud such as Business Email Compromise and romance scams to online account takeover attacks, fraudsters need a money mule to facilitate fraud.

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Nasdaq Verafin’s proprietary database of suspected money mules is based on real-time feedback from our consortium of thousands of financial institutions.
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Money mule intelligence is incorporated into our models — when a mule is identified, every institution in the network is protected.
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Money mule notifications alert you to potentially suspicious accounts at your institution allowing you to assess risk.

Stop Money Mules in their tracks. From Authorised Push Payment fraud such as Business Email Compromise and romance scams to online account takeover attacks, fraudsters need a money mule to facilitate fraud.

null
Nasdaq Verafin’s proprietary database of suspected money mules is based on real-time feedback from our consortium of thousands of financial institutions.
null
Money mule intelligence is incorporated into our models — when a mule is identified, every institution in the network is protected.
null
Money mule notifications alert you to potentially suspicious accounts at your institution allowing you to assess risk.

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