fraud prevention software
Fraud Prevention Solutions to Identify Illicit Activities
Proactively detect fraud to safeguard intellectual property, save money, and avoid reputational damage. Combine services through custom workflows to defend against fraud.
Trusted by industry leaders across the world
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Rising Fraud Sophistication
AI-powered fraud tactics evolve faster than detection methods while true costs remain hidden until after attacks succeed. Organisations struggle balancing robust protection with seamless customer experiences.
fraud prevention capabilities
Fraud Prevention as a Driver of Change
According to the National Crime Agency, fraud accounts for over 40% of crime in England and Wales, coupled with fraud tactics becoming more complex and harder to detect. Combining an array of fraud prevention tools through a single access point can save time, reduce risk, and enhance compliance.
Mortality Screening
Plug-in to a dataset of 12 million deceased individuals to identify mortality fraud in real-time, including coverage of 85% of all UK deaths updated weekly.
Email Risk Assessment
Leverage powerful email intelligence by combining advanced analysis, machine learning, and artificial intelligence, summarised in an easily digestible 'risk score'.
Address Lookup
Reduce cost at the first point of onboarding by ensuring address input is legitimate, matches customer details, and isn't associated with historical fraud attempts.
Bank Account Verification
Ensure account details provided are correct and that the account belongs to your customer, reducing the risk of fraud and error.
Salacious Names
Improve resilience of your CRM by protecting it from 'keyboard bashing' or false entries.
Age Verification
Verify customer's age in real-time and set custom age thresholds for pass or fail to avoid reputational damage.
Country Coverage
Our identity verification services encompasses data from around the globe. Wherever you plan to grow your business, rest assured nCino Identity Solutions has you covered.
246
countries & territories
365m
entities
99.9%
uptime
300m
checks per month
6000+
documents supported
2.3bn
API calls annually
Learn About Fraud Prevention
What is anti-fraud?
Anti-fraud encompasses strategies and tools to identify and prevent fraudulent activities. Anti-fraud measures safeguard businesses and individuals against various types of fraud such as identity theft, credit card fraud, and anti-fraud. Implementing robust fraud protection services can significantly reduce the risk of a failures, thereby protecting sensitive data and financial assets.
What's the difference between AML and fraud?
AML and fraud prevention both aim to protect financial systems, but they focus on different issues. AML refers to the processes and regulations designed to detect and prevent money laundering activities. Fraud prevention, on the other hand, focuses identifying and stopping fraudulent activities like identity theft and credit card fraud.
How can technology and AI be used to prevent fraud?
Technology and AI are pivotal in modern fraud prevention strategies. These systems can monitor onboarding attempts in real-time, providing insights and alerting businesses to potential threats. By integrating these technologies, businesses can implement robust fraud protection services, effectively preventing identity fraud and other financial crimes.
How to balance fraud prevention and customer experience?
Balancing fraud prevention and customer experience requires implementing seamless and efficient fraud protection services that do not inconvenience users. Utilising advanced fraud protection tools, such as AI-driven financial fraud software, can detect and mitigate fraudulent activities without manual intervention. This technology ensures that genuine customers experience minimal friction while potential threats are accurately identified and managed.
What regulations are there in the UK for fraud prevention?
In the UK, several regulations govern fraud prevention to protect individuals and businesses from financial crime. The Financial Conduct Authority (FCA) mandates strict guidelines for fraud protection services and requires financial institutions to implement comprehensive fraud prevention measures. The General Data Protection Regulation (GDPR) also impacts fraud prevention, ensuring that personal data is handled securely to prevent identity fraud. Compliance with these regulations minimises fraud offences and enhances overall security.
What is the fraud prevention process?
The fraud prevention process involves several key steps to detect and prevent fraudulent activities. Initially, businesses implement advanced fraud protection measures, including the use of software for real-time monitoring and analysis. These tools identify and flag suspicious transaction. Following detection, businesses must investigate and confirm potential fraud instances, taking appropriate actions to mitigate risks. Ongoing monitoring and enhanced of anti-fraud measures ensures that the system evolves to counter emerging threats.
What is an example of fraud detection?
An example of fraud detection is the use of fraud prevention software to monitor fraudulent onboarding attempts in real-time. When a customer attempts to onboard, the system analyses various data points and data feeds, such as name, address, and date of birth, whether the email has been associated with fraud, identity verification and more, then software then flags the attempt for further review. By integrating such measures, regulated businesses can efficiently prevent identity fraud and other financial crimes, ensuring compliance and reducing the risk of non-compliance.
What are the three indicators of fraud?
Three common indicators of fraud include unusual account activity, discrepancies in documentation, and sudden changes in user behaviour. Unusual account activity can be detected using fraud prevention software, which monitors transactions for irregularities. Discrepancies in documentation, such as mismatched information or altered records, often signal potential fraud. Sudden changes in user behaviour, such as unexpected high-value transactions or access from unknown locations, can be flagged by advanced fraud transaction monitoring systems.
