article thumbnail

How Machine Learning Fights “Hypnofraud”

FICO

Often, the ploy contains the threat that the account holder will be arrested if funds are not sent immediately. B-LISTs keep track of the way various common transactions intersect at either the customer or account level, such as: A list of beneficiary accounts that a payer pays regularly.

article thumbnail

New Analytics for Real-Time Payments Fraud

FICO

As volumes of account-to-account consumer payment transactions grow — such as person-to-person (P2P) transfers made via Zelle, which is forecast to take over Venmo in 2018 — so does the opportunity for fraudsters to exploit demand deposit accounts (DDA).