Fraud Management
Fraud is a multi-million dollar problem that affects all organisations to a greater or lesser extent. The telecommunication and financial sectors in particular offer rich pickings and are a prime target for fraudsters.
Nt's Minotaur™ Fraud Management Solution enables organisations to manage fraud by assessing prospective customers at application stage, and by monitoring the behaviour of existing customers and transactional activity.
Profiling for application fraud/subscription fraud
The solution applies neural predictive analytical models at application stage to enable organisations to make a decision on whether new customers are likely to pose a fraud risk. The models are tailored to each organisation's business practice to give them greater accuracy in detecting fraud.
Further techniques provide an in-depth analysis of the applicant's information to highlight identity theft, such as link analysis, identity matching etc.
Monitoring post-acquisition for fraudulent activity
The application of rules, thresholds and behavioural models post-acquisition assists organisations to continue to monitor their customers and transactional activity to highlight any suspect or anomalous behaviour that could be indicative of fraud.
In the same way non-customer specific transactional activity within the business is monitored to detect fraud. For example, within telecommunications the use of a single SIM card to call multiple destinations over a short period of time would highlight Cloning Fraud, and within the finance industry sporadic online credit/debit card purchases could indicate the possibility of Card Not Present Fraud.
Minotaur™ Fraud Management Solution detects and manages a wide range of fraud types within the financial sector, including Application Fraud, Card not Present Fraud, Lost or Stolen Cards, Skimming, Merchant Fraud and Counterfeiting. Within telecommunications the areas covered comprise Subscription Fraud, Identity Theft, Pre-paid Fraud, Premium Rate Service (PRS) Fraud, Internal Fraud, Call-Selling Fraud, Roaming Fraud, PABX Fraud, Gateways Abuse, Malware Attacks, SIM Card Cloning, E/M Commerce Fraud and VOIP Fraud. These lists are not exhaustive - Minotaur™ Fraud Management Solution is effective in managing a whole range of fraud types in a wide variety of environments. Fact sheets on management of the various fraud types are available from our download centre.For
