VisionRisk: Fraud Detection - Filters

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The weapons you need to win the war on check fraud.
Check fraud is a persistent source of red ink in financial services. About eight in ten institutions each year lose money to check frauds - from high-tech counterfeiting schemes to the simplest forgeries. Avoiding this profitability impact demands a new class of weapons … the Metavante Image Solutions Vision Risk: Fraud Detection Suite.

VisionRisk: Fraud Detection - Filters are the early warning system to stop check fraud losses
Winning the war on check fraud demands you stay at least one step ahead of the fraudsters. By pulling images of those items requiring close, human attention from the processing flow, fraud filters keep you several steps ahead.

VisionRisk: Fraud Detection - Filters include:

  • ACH Fraud - includes ACH items in transaction history and allows them to be reviewed through the on-line function as checks are. ACH items are represented as pseudo checks with all of the ACH information displayed for the reviewer.
  • Deposit Activity Filter - keeps track of deposit activity from both a volume and dollar point of view to identify unusual or suspicious deposit activity so you can take action before a withdrawal is made.
  • Employee Audit - Allows the monitoring and review if employee accounts for unusual activity that may indicate involvement in fraudulent behavior.
  • High Dollar review - Improves efficiency of high dollar review by setting thresholds at the account type level rather than an overall threshold, displays items on-line rather than out-sorting them.
  • Keeping tabs on suspected check kites - looks at the balance, number of checks written and number of deposits made over a certain number of days and compares the balance to the transaction.
  • MICR screening - the fraud filters can be calibrated to flag checks not using MICR ink.
  • New account screening - this filter keeps tabs on new account relationships, signaling a red alert when deposits to an account exceed a preset value.
  • Screening out-of-range amounts and serial numbers - the fraud filters include historical databases of serial numbers and amount activities for each account. Using state-of-the art mathematical algorithms and thresholds set by the user, filters are set up to ferret out suspect checks. Those images are delivered to your workstation together with images of checks that have cleared on the same account. Signature details are also viewable on screen, along with information on how each suspect item graphs against past checks drawn on the same account.
  • Special Watch/Special Alert - Tracks activity at the account and transaction level to identify and track activity on a suspicious account or a suspicious type of transaction for an account.