NetGuardians’ Fraud Detection for SWIFT messages, enables financial institutions to identify and stop fraudulent transaction messages before they are released to the SWIFT network, in real time. Powered by NetGuardians’ machine learning and augmented intelligence technology, the solution automatically learns from SWIFT MT 101, 103 and 202COV messages and captures unusual message parameters to ultimately suspend and send an alert for suspicious transactions.
Examples of at-risk situations addressed by Fraud Detection for SWIFT messages
Anomalous activity related to:
- Time-frame (e.g. unusual time of day, unusual frequency)
- Unusual payment instructions
- Unusual payment value (e.g. amount bigger than usual)
- Unusual or new relationships (e.g. new beneficiary payment to a new country unused by FI)