We’ve tinkered with the internal workings and polished some rough edges (like bug fixes).
This includes some tweaks to the advanced settings in rules and optimizing the case management portal for a better experience.
We are regularly making updates to our service to make it even better.
As always if you have any feedback from please submit them here to our support site.
Whether you're managing hundreds of investigators in different countries and timezones or have various departments or brands utilizing Fraud.net, organization and efficiency are paramount to your success. For example, do your Swedish-based investigators need to see a German-based credit score? Should the SLA for the number of hours needed to review a transaction before shipment vary by the time of day it was received?
Fraud.net has added a new Admin section called Management. Here you can manage each team by the data points they can view, expiration settings based on the days of the week and hours worked in each time zone and holidays. These features give the admin the controls to effectively manage the nuances of each department or team.
Learn more about it here!
Fraud.net has released a few new rules for to our Banking Case Management Portal. We received feedback that our users wanted to dig deeper into the relationship between their customers and the counterparties they transact with. As a result, we are now keeping track of your customers' counts and sums with each counterparty at a variety of levels.
Also, we have added the "Advanced Settings" feature to now includes few more fields and is enabled for MCC-related rules.
Furthermore, you can now see if your customer's name is contained in the payment reference or counterparty. This may be a sign of money laundering.
Read below for all the specifics!
Count with Counterparty
Limit for number of transactions for a Customer, Account or Payment ID with that specific Counterparty
Limit for value of transactions for a Customer, Account or Payment ID with that specific Counterparty
Counterparty Contains Customer Name
Payment Reference Contains Customer or Company Name
Velocity Advanced Settings Updates
We are excited to share with you the details of Fraud.net’s January 2021 Release Notes. We added advanced settings to rules, integrated with ComplyAdvantage, created an easier way to capture device information, and enabled new fields to allow and deny lists. Read below for more information.
We are excited to share with you the details of Fraud.net’s December 2020 Release. We added new fields to the API, more details about the counterparty of the transaction, and some usability enhancements. Read below for more information.
Over the past quarter, the Fraud.net team has expanded our banking product to include payment methods beyond debit and credit transactions. Now, it is possible for Fraud.net to risk assess a variety of transaction types such as wire transfers, deposits, internal transfers, ACHs, and many others. As a result, there are new fields available in the Banking API.
These fields include: Seller Account ID, Seller Account Type, Direction of Funds (incoming or outgoing), Geolocation at time of transaction and additional allowed values for the payment method field. Please note, none of these fields are mandatory and there is no impact to your existing workflow. Please speak with your Customer Success Manager to learn more!
While the Seller Object remains, we now refer to the seller as the counterparty of the transaction. The term counterparty is any entity on the other side of a financial transaction. This includes individuals or businesses. When reviewing a transaction, there is now a counterparty section with entity-specific details. Please note, all counterparty information is related to the Seller Object in our API.
With every transaction, Fraud.net now tracks if the funds are incoming or outgoing in relation to the customer’s account. By default, the direction is “out” and no action is needed if your primary use case is credit and debit card transactions. In all velocity rules, users can now distinguish between including incoming or outgoing transactions. By default, both are selected and no action is needed.
As Fraud Investigators are approving, canceling, or updating transactions, they will notice a few enhancements to improve the overall decision-making process.
Expansion of Fraud Types: When canceling a transaction, select the type of fraud that occurred. The types of fraud are segmented by whether your customer was a victim or the perpetrator of fraud. This offers greater insight into how the customer should be evaluated in the future.
Updating The Transaction: From the Actions dropdown within a transaction, a user can now update the card status, payment status, or mark as fraud.
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Fraud.net's release schedule is every Tuesday and Thursday at 5pm EST. Generally, we release just once per week, but keep in mind, there are only two possible times each week that Fraud.net will release. You will continue to be notified of these releases with accompanying notes.
Every release is meant to make for a better user experience. We look forward to hearing your input.