Security of check transactions

Kofax FraudOne is an advanced solution designed to detect fraud on financial documents. Developed in cooperation with six leading U.S. banks, the application effectively identifies potential fraud, even up to two days after the transaction is processed.

Why Kofax FraudOne?

• Financial fraud detection - effective analysis and identification of unauthorized activity,
• Security of financial documents - crucial in times of increasing fraud,
• Prevention of unauthorized transactions - in accordance with the highest security standards,

According to 82% of surveyed financial organizations, financial documents are the most common target of monetary fraud. With Kofax FraudOne, financial institutions can provide their customers with security and peace of mind, regardless of the challenges posed by increasingly sophisticated fraud methods.

Preventing unauthorized transactions

Kofax FraudOne is an indispensable tool in protecting against financial fraud. With its speed and accuracy, the system enables financial organizations to process transactions safely.

Key features of the system:

• Verification of the authenticity of signatures - comparison of signatures with a reference database of signatures,
• Protection against financial fraud - minimizing risks through advanced data analysis.

Using Kofax FraudOne provides financial organizations with security at every stage of transactions, protecting them from unauthorized activities and building customer trust.

Technical aspects of the product

Kofax FraudOne is an advanced system that detects anomalies on financial documents. Its operation is based on precise and comprehensive verification of documents, going beyond the standard checking of amount limits.

The most important functions of the system:

• Verification of signatures and special marks - analysis of documents using a reference database of signatures and financial images,
• Extensive database - a regularly updated database of signatures and documents allows for accurate checking of transactions,
• Recipient data verification - identification of recipients based on bank whitelists and blacklists,
• Integration with other systems - the ability to connect with Kofax SignDoc, which expands the database of signatures with data collected in SignDoc.

Operation of the system in case of fraud detection:

If irregularities are suspected, the transaction is aborted and the data is forwarded to the Bank Fraud Analyst, who decides on further steps.

Kofax FraudOne is a precise tool that significantly increases the security of financial transactions and enables financial institutions to effectively protect themselves against fraud.