Financial transaction fraud is massive
The majority of online fraud occurs during a transaction - i.e. when a user attempts to buy something or move money. The problem is massive, with 2020 financial crime losses in the US estimated at $700+ billion. In isolation, looking at a transaction and determining if it should be allowed, challenged or denied is difficult. Also, financial services companies must report suspicious activity in order to comply with banking regulations.
This is fraud resulting from stolen credit cards and compromised online financial accounts.
This is where criminals move money between accounts to "clean" it. BSA/AML compliance requires you to monitor and report on suspicious activity.
Criminals purchase list of stolen credit cards on the dark web and attempt to verify that they are valid, normally using software bots.
Identity-informed transaction risk signals
Castle allows you to discover, investigate and mitigate transaction fraud. As the single source of truth for user activity, Castle provides one place to go to discover new types of fraud and investigate specific fraud incidents. With our powerful identity and transaction risk assessment engine you can stop financial crime in real-time.
Browse user data and look for high level patterns of transaction fraud. Search transaction data to identify large withdrawals and uncover fraud rings.
See a single timeline view with all user interactions, from account opening to transactions and account updates. Find bank accounts and users with suspicious transfers.
Assessing identity risk
Identity risk signals can be used during a transaction to score the likelihood of the user being legitimate.
Stopping fraud using policies
Castle's policies can be used to stop fraud in real-time, with no code changes. Select risk signals or data attributes with historical fraudulent behavior and challenge or deny those transactions.
- Bot Detection
- Account Takeover Prevention
- Policy Management
- Device Management
- User Behavior Analytics
- REST API & Webhooks
- Email & chat support
- Credit card payments
- Includes all Pro features
- Enterprise SLAs
- Enterprise support
- * Volume discounts available
- Customizable billing
- Invoice payments