Take control of your case management program.

One of the main causes of under-performing and ineffective fraud case management teams is the flood of alerts and potential cases they are overwhelmed with. In the fog of trying to separate the signal from the noise, even your best teams can burn out fast.

When it comes to increasing the productivity of your fraud teams, following six specific steps can help.

Why are fraud teams so overworked?

With the variety of approaches that fraudsters can take when trying to scam your business, there is a large number of granular rules required to attempt to stop them. Fine-tuning your strategy over time can reduce the number of false positives generated by your fraud detection solution. However, even the flood of legitimate fraud cases coming in is enough to tire out your teams. And with each individual case requiring attention, the queues can start to build up quickly.

Additionally, as fraudsters develop more advanced means of crafting scams, they become more difficult to detect. Trying to track down the audit trail among all the active cases may lead to dead ends or take too long, meaning customer experience starts to degrade.

What makes matters worse is not being able to manually assess each transaction for a quantified amount of risk at a rapid pace.

You need a plan of action

1. Take control of your fraud case management program

With Fraud.net’s Case Management Console, you can actualize team administration by grouping personnel based on location, business unit, or expertise. Keep track of team and individual efficiencies with unique data displays to assign and monitor SLAs.

You can also control access to different dashboard views, ensuring only certain personnel can see or manage certain matters. Queue action items for review so that your fraud teams can address suspicious transactions for a final sign-off.

Plus, approve, deny or escalate flagged transactions to initiate the appropriate workflows with a few simple clicks.

2. Simplify the presentment of information for faster decision-making

With the fraud Case Management Console, you get a comprehensive overview of key details and risk analysis results. These include transaction ID, customer identity profile, address, contact information, and even links to social media profiles for verification purposes.

Enriching cases with contextualized event information leverages alerts, network, device, and customer history details. From this single screen, a fraud analyst can receive all of the information necessary to investigate cases of fraud.

3. Make more accurate decisions

The history of verified and rejected transactions for a given customer offers your fraud teams the ability to determine how often that person has been flagged in the system and how much risk is associated with a particular identity.

By aggregating similar details from every vendor and partner in Fraud.net’s Collective Intelligence Network, the risk scores are much more meaningful when making decisions regarding transactions.

This holds a particular benefit for your organization. Even if you have never interacted with a particular entity before, the Collective Intelligence Network uses data from millions of points across Fraud.net’s consortium so you know an entity is bad before it’s too late.

4. Reduce false positives

With Case Management Console, tracking changes to an entity’s account over time becomes easier than ever while providing insight to interactions with organizations outside your own.

The Service Lookup feature allows individual pieces of information to be searched within Fraud.net’s vast databases to verify any previous fraudulent activity associated with the information.

Geographic data that populates pinpointed locations on maps, as well as geolocation performed by IP address tracking, can help your fraud teams trace activity all over the globe from any location. The robust list of filter categories helps you obtain fine-grain detail in an instant to conduct in-depth investigations.

5. A more empowered, efficient, and effective fraud team

By placing the right information at the right time in the hands of your fraud teams, what once took days or weeks only takes a few seconds. This means fewer people can do exponentially more work, which is a major return on investment on day one operations.

Personnel can also take advantage of Fraud.net’s collection of integrations, where interconnectivity between the Case Management Console and other tools your organization uses can work in concert to disrupt attempted fraud. Some of these integrations include:

  • Emailage.
  • White Pages.
  • InAuth.
  • NuData.
  • TeleSign.
  • And more.

6. Customize rules, reporting, and dashboards to your unique requirements

The inability of a rule to detect that a transaction is actually legitimate enables fraud teams to apply the human element and inspect this information. Optimize rule creation with over 600 preset filters for better fraud case management.

By doing so, your teams can automate the majority of fraud case reviews. This helps reduce the symptoms of burnout and frees up personnel to focus on other investigations.

Schedule a demo today

Don’t wait around for the next case of fraud to slip by your overworked teams. Fraud.net’s Case Management Console can give personnel much more confidence and make them more efficient compared to the demands of yesterday.

Get in touch with us to learn more about Fraud.net’s detection, prevention, and analysis technology.