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Version: 1.1

Payment Fraud Prevention


The Payment Fraud Prevention product assigns fraud scores to transactions in real time. These scores are generated using our machine learning models, which have been trained on millions of comparable data points.

Fraud Types

Payment fraud, sometimes referred to as transaction fraud, refers to fraudulent activities related to the unauthorised use of financial payment cards or account information. Some common examples of payment fraud include:

  • Credit card fraud: using a stolen credit card number to make unauthorised purchases
  • Chargeback fraud: disputing legitimate charges in order to get money back
  • Friendly fraud: when a customer fraudulently disputes a legitimate charge for their own gain
  • Identity theft: using someone's financial information to open accounts or make purchases in their name
  • Phishing and scams: tricking people into providing account numbers, PINs, or other sensitive info

Transaction fraud is a major problem for banks, merchants, and payment networks and they employ various fraud detection and prevention techniques to try to mitigate it.