With SINNAD’s Fraud Analyzer, the financial institutions can protect its issuing and acquiring network from systematic fraudulent transactions and minimize the fraud-related impacts and costs. The Fraud Analyser automatically detects and escalates fraud attempts based on a set of standard rules following payment system recommendations and can be additionally configured to apply user-definable rules that meet the financial Institution’s specific requirements. Transaction attributes and card usage patterns within a predefined timeframe are analysed in terms of volume, quantity, recurrence and similarity to known fraud scenarios. If abnormal behavior is detected, the system generates online alerts, dispatches email notifications and/or sends commands to block an object considered to be at risk.
SINNAD also offer the mean to contact the cardholders directly and verify the authenticity of the transactions once the alert generated