Solution(s): FraudNet Enterprise Risk Management Platform – Includes Transaction Monitoring, Entity Screening, AML Compliance Monitoring, Policy Monitoring
Website(s): fraud.net (Off-site)
Contact: Dan Krebs, Dan@fraud.net
Inclusion of a provider in the exchange does not reflect any recommendation or endorsement by the Federal Reserve, or any relationship between the provider and the Federal Reserve. Learn more.
Services and products to support the FedNow® Service
FraudNet provides an integrated risk management platform purpose-built for instant payments. Our cloud-native solutions integrate via REST API, enabling financial institutions to protect transactions across the full lifecycle, from entity screening through real-time payment decisioning to AML compliance.
Our Transaction Monitoring solution is designed for the speed and irrevocability of instant payments. The platform evaluates transactions in milliseconds, detecting fraud before funds move. Central to this is our AI-powered behavioral detection engine, which builds entity-level behavioral profiles and flags anomalies based on how customer and counterparty accounts, devices and users actually behave, not just static rules. The system detects emerging fraud patterns, money muling and other scams that rule-based systems miss, while continuously improving without manual rule tuning. The solution returns approve, hold, step-up or reject decisions, enabling institutions to block fraudulent transfers before clearing.
Entity Screening supports onboarding and ongoing due diligence by screening counterparties against OFAC, PEP, UBO, sanctions and adverse media lists, helping FIs meet compliance obligations before allowing participation on the FedNow network. Our AML Compliance Monitoring solution monitors transaction activity for money laundering risk, with alert and case workflows aligned to BSA/AML requirements, critical as real-time settlement creates exposure to rapid fund layering.
Supported account types include DDAs, savings and other depository accounts. Primary users include fraud, risk and compliance teams within financial institutions such as banks, credit unions, payments companies, fintechs, as well as commerce.
Segment type(s)
- Financial Institution Service Provider
Solution type(s)
- Risk Management and Fraud Services
Use cases/markets served
- Bill Pay and Presentment
- Buy Now Pay Later
- Digital Wallet Funding/Defunding
- Merchant
- Other
- P2P Payments
FedNow functionality supported
- Fraud Prevention/Monitoring Services
Ability to integrate with outside core processing solutions
- Yes, any (core agnostic)