SCAMP2

Scam Detect
Your Bank’s Loyal Guard Dog

Scam Detect is the ultimate way to protect your bank against APP fraud. It sniffs out scammers in real time using cutting-edge behavioral analytics and best-in-class Artificial Intelligence models.

Fetch!

Pre-trained and easy to implement, you’ll have a new best friend in no time
Scam Detect

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Out-of-the-Box Impact

Scam Detect delivers results from day 1, enhancing your fraud detection capabilities from the moment of implementation.

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Compliance and Ease of Use

Fully managed in the cloud, Scam Detect ensures compliance with regulatory data protection requirements and offers easy integration via an API.

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Continuous Improvement

Scam Detect evolves over time, becoming more effective as more data is processed by the model, with the use of Featurespace's superior analytics.

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Cost and Time Efficiency

Scam Detect offers significant time and cost savings while ensuring consumer protection, aligning with our ethical and customer-centric values.

Key Statistics and Impacts of Scams

193%
Increase

In investment scams over five years, making APP scams the fastest-growing fraud type.
(Source: Financial Times, 2023)

$100 Million Avg. Losses

For the top 200 U.S. financial institutions, scams were a quarter of fraudulent transactions.
(Source: Featurespace and PYMNTS, 2022)

£239.3 Million
Losses

Incurred during the first half of 2023 in the United Kingdom due to scams.
(Source: UK Finance, 2023)

“We built a really exciting partnership with Featurespace
and we’re very happy with the results.”

Lee Ashmore,
HSBC Global Head of
AML Technology

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Scam Detect
Inbound and Outbound Fraud Detection

Scam Detect provides a score highly tuned to detect scams that can be used with existing controls to increase detection rates. Our models are proven to work across institutions of all sizes and scale.


Some of the most common types of scams

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Impersonation scams

As attempts to trick victims become more sophisticated, Scam Detect has you and your customers covered.

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Romance scams

Quickly identify romance scams with our proactive monitoring. Protecting both banks and victims, Scam Detect identifies red flags such as gradually escalating payments, or unusual frequent transactions to individuals with no prior financial history with the account holder ensuring your customers’ financial well-being stays intact.

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Investor scams

Stay ahead of investor scams using our intelligent detection mechanisms. By profiling both beneficiaries and victims, we can pinpoint suspicious patterns like recurring payments, often increasing over time. Trust in Scam Detect to safeguard your customers' real investments and prevent financial loss.

Quick to Deploy

Scam Detect is designed to easily integrate with existing solutions to act as an augmented score.
It has a predefined event schema based on ISO 20022 that can be leveraged to achieve a low-effort and secure integration with your Core Banking or Fraud Detection Systems.

SCAM DETECT FACT SHEET

 

Find out more!

Sniff out the scammers. Receive the Fact Sheet and learn more about Scam Detect!