Anti-Fraud Solution

Univius Anti- Fraud Solution suite delivers innovative software solutions that help to improve customer risk management for financial enterprises, in the domain of Fraud, Reporting and several nuances related to personal or corporate lending.

Univius Anti- Fraud Solution suite offers the benefits of a common platform for regulatory compliance and fraud monitoring to improve customer risk management, meet Fraud risk across multiple channels and business domains.



Fraud Channel

In the digital age, fraud patterns keep on changing and evolving and have a direct link to the fraud loss. New trends bring in a higher amount of losses. According to the Association of Certified Fraud Examiners, the banking industry has suffered a cost of $67 billion per annum. Institutions face fraud risks from multiple sources and levels – external threats, those aimed at customers and their data, hacking attempts that directly attack the bank’s networks; and internal incidents led by rogue employees and outsourced vendors. Frauds not only cause substantial financial losses but also impact the institution’s brand and goodwill value built over several years.

 

Sample Fraud Scenarios

Transactions
• Use of same inventory by same customer for a new loan
• Use of same inventory by another customer for a new loan
• Usage of recently purchased inventory to process a new loan
• Use of same inventory to process a new loan immediately after paying of the previous loan
• Use of inventory which has no proper ownership documents
• Use of forged or illegal documents to present inventory
• Two inventory documents which have one or multiple data values (Name, Address, ID Value, Phone no. etc)

Geo-location filters
• Use of same inventory by same customer for a new loan from another branch
• Use of same inventory by another customer for a new loan from another branch
• Use of same inventory by same customer for a new loan from a high risk branch

Unauthorized Access
• Employees making frequent checks on multiple customers within a short duration
• Frequent checks of HNI/ Dormant/ Inactive accounts by employee’s
• Employee’s login from new computer (device profiling capability to detect IP address, type of browser and operating service)
• Employees accessing multiple customer accounts of other branches within a short duration

Unauthorized Transactions
• Use of same computer/IP address to initiate and authorize loan transactions
• Suspicious loan transactions being authorized within usual TAT
• Employees with restricted access making unusual changes in customer accounts such as change of mobile number, address etc



 


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