Complyadvantage Takes On Payment Fraud With New Ai-powered Solution

ComplyAdvantage, a leader in financial crime intelligence, has launched Fraud Detection, a new solution that uses machine learning algorithms to detect and prevent transaction-related fraud. Fraud Detection identifies over 50 of the most prevalent payment fraud scenarios faced by banks and other financial institutions, including Account Take Over (ATO), Authorized Push Payment Fraud (APP), Synthetic Identity, and Relationship Fraud. When businesses receive an alert to suspicious activity, it comes with a full explanation, streamlining the transaction’s resolution.