Design and Implementation of a Computerized Fraud Detection in a Bank using ERP Data Analytics
Conducting proper due diligence while conducting banking transactions or interacting with the bank’s authorized representatives.
Analyzing usage patterns of customers with regards to their personal, savings account, credit card account and personal loan accounts to spot anomalies in transaction flows or irregular purchase patterns.
Pattern analysis of average balances, number of bounced checks and other customer attributes that can help detect potential check fraud.
Identify cash transactions just below regulatory reporting thresholds
Identify statistically unusual numbers of cash transfers by customer and bank account.
Locate check forgery or falsification of loan applications and identifying missing, duplicate, void, or out of sequence check numbers
Staying current with new fraudulent activities that may breach the organisation’s security measures.