Use Case - Transaction Fraud

Managing financial transaction fraud

Learn how Castle can be used to discover, investigate, stop financial fraud.

The Problem

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.

Payment fraud

This is fraud resulting from stolen credit cards and compromised online financial accounts.

Money Laundering

This is where criminals move money between accounts to "clean" it. BSA/AML compliance requires you to monitor and report on suspicious activity.

Card testing

Criminals purchase list of stolen credit cards on the dark web and attempt to verify that they are valid, normally using software bots.

The Solution

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.

Solution Detail

Using Castle to manage
transaction fraud

A comprehensive set of functionality to discover, investigate, and ultimately stop transaction fraud.

Data exploration

Browse user data and look for high level patterns of transaction fraud. Search transaction data to identify large withdrawals and uncover fraud rings.

Blocked transactions
International transfers
Large deposits
Updated payment methods

Incident Investigation

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.

Identity traits
Device management
Event timeline
Report transaction fraud

Assessing identity risk

Identity risk signals can be used during a transaction to score the likelihood of the user being legitimate.

Fast travel
Spoofed device
Proxy IP
Tor browser
New country
New device

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.

Dollar amount exceeded
Multiple accounts per device
per 10,000 good events

No minimum commitment
Start for free
  • Bot Detection
  • Account Takeover Prevention
  • Policy Management
  • Device Management
  • User Behavior Analytics
  • REST API & Webhooks
  • Email & chat support
  • Credit card payments
per 1,000,000 good events

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  • Includes all Pro features
  • Enterprise SLAs
  • Enterprise support
  • * Volume discounts available
  • Customizable billing
  • Invoice payments