Fraud Screening

The Screening tab in the Fraud Prevention section of AML Pulse provides a comprehensive fraud risk assessment tool that helps businesses evaluate the validity and trustworthiness of customer information during the onboarding process. It utilizes a combination of data sources and scoring mechanisms to identify potential red flags and assist in preventing fraud such as identity theft and other suspicious activities.

Fraud Score and Applied Rules

The Fraud Score is a numerical representation of the overall fraud risk associated with the customer, ranging from 0 (low risk) to 100 (high risk). This score is calculated based on a set of predefined rules that assess various factors, including:

• Email Address: Validates the existence and reputation of the email address, checking for free domain providers, data breaches, and mail server configurations.

• Phone Number: Verifies the phone number’s country of origin and checks for associated online profiles.

• IP Address: Assesses the IP address, including its location, type (CDN, ISP, etc.), and potential use as a public proxy or VPN.

• Card Bin: Validates the card bin number, identifying the issuing bank, brand, country, and whether it is a prepaid or virtual card.

• IBAN: Verifies the validity of the IBAN number and its consistency with the customer’s country of residence.

• VAT: Validates the VAT number against official registries.

The “Applied Rules” section provides details on the specific rules that were triggered for each data point, offering insights into the factors contributing to the overall fraud score.

Analyzing Fraud Screening Results

A higher Fraud Score indicates a greater likelihood of fraud, prompting further investigation and risk mitigation measures. However, it is important to consider the context and individual factors of each case. For instance, a high Fraud Score solely due to a free domain email address may not warrant immediate rejection if the customer’s overall profile is otherwise deemed low-risk.

The Fraud Prevention screening results serve as a valuable tool for evaluating customer information, identifying potential red flags, and making informed decisions during the onboarding process. By effectively utilizing this tool, businesses can enhance their fraud prevention efforts, safeguard their operations, and protect customer data.