Upgrade your fraud management efficiency with foreign currency rules.
As part of its Case Management Console, Fraud.net can now convert the actual currency being used in a transaction to the currency of the region of the company, so rules are accurate for the actual value of transactions. This allows companies to more accurately screen for fraud while supporting global trade and transactions between foreign currencies.
Clients can write and set velocity rules around this information, such as auto-approvals/denials or risk scoring triggered by specific criteria.
Why is this Important?
Product(s):
Most fraud prevention tools only allow you to detect fraud within one currency (typically the currency you primarily do business in). However, many companies have a global presence and use multiple currencies, which require different sets of rules.
For example, a customer traveling from the EU to Nigeria might potentially get flagged for exceeding a spend limit, as the 1000 Naira is equal to 2.35 Euros.
With Foreign Currency Rules, you can set specific velocity rules for these cross-region transactions, to more accurately screen for unusually large transactions, transaction frequencies, and more.
This helps your company support global commerce and trade while accurately risk-scoring transactions, increasing fraud management efficiency, and stopping potential financial crime.
Want to learn more about foreign currency rules, or our new features? Contact one of our solutions specialists today to see how our platform can help you.
Transaction AI
Real-time transaction monitoring and identity verification to mitigate transaction fraud schemes.
- Rapid and accurate risk scoring
- AI-powered rules engine
- Identity verification and transaction history
- AML monitoring
Case Management Console
More efficient fraud management with customizable tools that automate and expedite your fraud investigations.
- Streamline and automate fraud reviews.
- Customize workflows, rules, and risk profiles.
- Leverage insights from Fraud.net’s Collective Intelligence Network.