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Burhan Ahmad

Financial Services Consultant
IBM
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I am a seasoned financial services architect. with special focus towards compliance and financial crimes. I have extensive experience in implementing and advisory roles related to AML Systems, Fraud Detection, KYC, System Integration

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Advancements in Fraud Detection using Payment Enrichment Data

Good summary of how we make use of transaction enrichment to fight fraud.  I have been part of various fraud system implementations and there is absolutely no denying that more we put in the effort to enrich transactions, more our fraud detection model has the clarity to appropriately flag the transactions. Apart from the example of geolocation quoted above, I have come across some additional use cases where transaction enrichment does wonders. To name a few:

1 - Scanning cyber security tools to determine device risk scores

2 - Additional session related information

3 - Use of POS/Merchant reference data to pull up information that may help in identification of transaction.

 

19 Nov 2023 09:55 Read comment

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