
FAQs
How does anomaly detection help identify abnormal payment activity?
Anomaly detection plays a critical role in identifying abnormal payment activity by analysing and monitoring spending patterns to detect deviations from a customer’s typical behaviour. For instance, if a customer who usually shops locally suddenly has transactions from the UK, this could signal potential fraud. Other indicators include unusual transaction times, such as late-night purchases when the customer generally shops during the day, or significantly larger transactions than usual. By flagging these anomalies, our fraud monitoring platforms enhance the accuracy and speed of fraud detection.