Monitor Plus BBFD™
Branch Banking Fraud Detector
Fraud Prevention in
Monitor Plus Branch Banking Fraud Detector™ (previously known as Monitor Plus AFD™) is a comprehensive real-time solution that prevents internal an external fraud, aids in policy and procedural compliance, prevents errors, and optimizes utilities in financial branches and non-banking correspondents. This solution is useful to banks, cooperatives, savings banks, etc.
This system monitors financial and non-financial transactions in real-time (teller, customer service, compensation, passwords and physical access, check cashing, withdrawals, service payments, debit and credit notes, reversals, annulments, overdraft authorizations, etc.) and risks in processes, correlating different events to detect fraud patterns. This model detects, alerts and timely prevents internal fraud in real-time by monitoring suspicious consultations, data breaches, and alterations to private information that are suspect of preparation of future fraud. This system interacts with the institution’s authorizer to recommend transaction authorizations/denials o conduct alternate validation processes for high-risk transactions.
Monitor Plus Branch Banking Fraud Detector™ uses statistical analysis to jointly profile customer and employee behavior. It can also react immediately through an automatic defense system (account blocking, user or terminal inactivation, etc.) when facing high-risk situations that merit such measures.