Summary

• Fraud prevention is the implementation of a strategy to detect fraudulent transactions or banking actions and prevent these actions from causing financial and reputational damage to the customer.
• Annex Cloud has three-layered security protocols that protect you in case of any event.
• A fraud dashboard can flag or block fraud attempts, depending on the level of caution you want to exercise.
• You can also allow certain email addresses, IP addresses, or domain names to bypass your referral fraud restrictions.
  

Capabilities

For fraud prevention, Annex Cloud has three layers of security. Fraud prevention capabilities let you flag or block possible fraud attempts on the basis of four kinds of data:

• Personal data-based fraud prevention
• IP address or device Id-based fraud prevention
• Abnormal activity-based fraud prevention

Fraud can be prevented by using different ways, as listed below:

• Fraud Setting
• Blocklist
• Exclusion List
• Email Template
• Fraud Report

Fraud Setting

There are three types of Fraud Settings:

• IP Address Tracking
• Personal Data Tracking
• Abnormal Referral Activity

IP Address Tracking

You can use an IP address tracker to locate a device. The user's IP address is tracked using IP address tracking software. The tracking tool recognizes the user's IP address if he or she utilizes several referrals from a single IP address.

Annex Cloud sets the limits of the number of referrals allowed within a single IP address. If the user exceeds the specified limit, any future referrals will be blocked or flagged.

Under the IP Address Tracking option, there are three limits set, such as:

• Block the fraud attempt after: Set the threshold value of the attempt, beyond which the IP address gets blocked.
• Flag the fraud attempt after: Set the threshold value of the attempt, beyond which the IP address gets flagged.
• Ignore: Admin decides to ignore the IP address and the user is eligible for all types of benefits.

Personal Data Tracking

Personal data is an excellent secondary layer to your referral security. Email is the most standard form of data when it comes to this. It is an easy task to block a referral attempt if the referrer and the referee have the same email address. Then the site admin will select either one of them:

• Block the fraud attempt
• Flag the fraud attempt
• Ignore

Annex Cloud recommends flagging referrals in which the referrer and the referee have similar email addresses.

Abnormal Referral Activity

If multiple referral attempts occur from the same IP address, then the abnormal referral activity is noticed. Annex cloud usually recommends 3-5 referrals before making anything suspicious, but admin can choose their own threshold.

Annex Cloud sets the threshold by defining the following parameters.

• Number of attempts: Set the threshold value of the attempt, beyond which the IP address gets blocked
• Time Period: Set the time period on the basis of hours, day, week, month, and year.
• Actions: Set either of the actions as “Block the fraud attempt”, “Flag the fraud attempt”, and “Ignore”.

Blocklist

It shows the list of email addresses that are to be blocked. This blocklist is done on a real-time basis.

Add New: You can add a new list of blocklist users either by adding an email address or IP address. Also, you can add a bulk list by uploading the CSV file.

Filter: You can search for the email address or IP address of the user by using the Filter option.

Exclusion List

The exclusion list contains the list of persons who are to be excluded from the blocked list.

Email Template

Site admin or Client will receive an email having the list of the IP address or email address who is doing the fraudulent activity. Then the site admin or client will add all the list of users in the blocked list so that in the future they are not able to do any fraudulent activity.

Fraud Report

A fraud report provides a detailed report of users performing any fraudulent activities. The configuration details of the fraud report are listed below: