Scenario 6. Money Transfer

The scenario showcases a possible transaction fraud where many smaller monetary transactions are made to the same beneficiary in a short period of time. Next to raising an alert, the requests are challenged.

Scenario actor: Felix FEVER

About this scenario - requests

The scenario consists of seven requests that are sent to Risk Analytics. In the first two requests (RA_0601.a. and RA_0601.b.), Felix FEVER successfully logs in to his banking application.

Felix FEVER proceeds with three transaction requests (RA_0602.a., RA_0602.b., and RA_0602.c.) to William WALLACE. These non-excessive monetary transfers are not challenged.

Felix FEVER continues with another transaction request (RA_0602.d.), changing the beneficiary to Xaviera XERES. As this is the first monetary transfer to this beneficiary, this transaction is also not challenged.

Finally, Felix FEVER submits yet another transaction request (RA_0603.a.) with William WALLACE as beneficiary. As this is the fourth monetary transfer to William WALLACE in a short period of time, this request is challenged (response code: Challenge, Response = 2).

Analysis

To analyse the rules triggered and alerts raised for the scenario, log on to Risk Analytics Presentation Service and navigate to SUPERVISE & INVESTIGATE > My Alerts.

Pending alert:

• RA_0603 Too many TXNs in too short time to the same creditor in the Transaction Declined or Challenged alert queue, raised by the matching rule RA_0603 Too many TXNs in too short time to the same creditor

Walkthrough: Quick access to matched rule

To quickly access the details of a matched rule and verify the details of this rule, follow these steps:

Quickly access matched rule and verify the corresponding values

1. In the My Alerts table, select the Felix FEVER name link to display all events and to access the case management for that actor.

2. Click Transaction Declined or Challenged to highlight the event that triggered this alert.

3. Sort the Events table by newest date/time (Date column, descending) to place the highlighted event that raised the alert at the top of the table.

4. The Matches column includes the value of the matching rule RA_0603 Too many TXNs in too short time to the same creditor; the Response column displays the value 2 (= CHALLENGE).