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Education

with losses exceeding (see https://bit.ly/3xzY0bn). involving manual review.
• Operational reliability: Employs optimal system
Fraud schemes that involve a form of social engineering availability and performance to support real-time
to trick a business or private person to transfer funds are analysis requirements such as over the counter and
also referred to as authorized push payment fraud. instant payments.

Ways financial institutions can secure themselves against • Real-time scoring: Determines the fraud risk of
fraud every payment the moment it is initiated and before
funds are moved beyond the bank's control.
Fraud in instant payments is a modern problem that
requires a modern solution. To effectively bolster defenses Instant payments are here to stay and will change the way
against fraud, FIs should implement solution platforms we conduct payments. However, the benefits of instant
that stop fraudulent transactions using the following payments being immediate and irrevocable is also a risk.
capabilities: Fraudsters will be quick to exploit weaknesses, meaning
• Cross channel and fraud type coverage: Enables that banks and other FIs must rise to the challenge and
implement measures to secure their instant payments
FIs to receive comprehensive coverage to eliminate capabilities against criminals.
system gaps across channels, making it more difficult
for fraudsters to find and exploit weaknesses.
As vice president of fraud solutions at ARGO, Calin Sandru oversees
• Predictive Accuracy: Uses predictive analytics to relationships with over 250 financial institution customers, resellers and
identify the fraud probability and provides quantified
and motivated results to fraud analysts to aid the technology providers, and provides entrepreneurial leadership to drive
investigation of suspicious items or payments. company growth through effective product and market development
and customer success. To contact him, please visit https://argodata.
• Automated decisions: Takes risk-based actions that com/about-us/meet-our-team.
leverage the capabilities of the payment channel,
like prompting for additional authentication, before

Installation
& Setting