Crypto AML : Read the White Paper “Off to New Financial Crime Worlds: The Crypto Challenge”
DownloadBusinesses face increasingly frequent and complex financial scams, and legislators continuously update regulations to better protect consumers. Siron®One's fraud detection and prevention capabilities help you stay ahead of sophisticated fraud activities and comply with evolving regulations.
Screening and monitoring large volumes of transaction data, stopping payment fraud in real time, and uncovering new criminal patterns are all essential to anti-fraud measures and some of the most arduous compliance work.
High volumes of false positives waste valuable time and expose organizations to additional risks. Lack of accurate alerts also hinders timely decisions and quick actions.
Optimizing fraud detection requires integration with core banking systems to extract, enrich, and analyze data, ensuring accurate and comprehensive information for screening and monitoring, tasks siloed legacy systems can’t accomplish and pose significant risks to fraud detection.
Conducting fraud investigations requires fast and resource-intensive processes. Compliance officers must also maintain a complete audit trail of transaction data and, after that, take measures like blocking transactions and reporting to the authorities – all of which slow down compliance workflows.
As new fraud techniques emerge and regulations evolve across jurisdictions, detecting new fraud patterns to stay one step ahead of emerging criminal activities and regulatory changes is becoming mandatory.
Siron®One combines machine learning and rule-based fraud detection to generate accurate alerts and prevent fraud in real time.
Siron®One automates screening and monitoring and offers smart options such as alert routing, hibernation, and auto-closure to reduce the time and effort required for investigations.
Siron®One integrates and updates data from all relevant sources in real time and takes a holistic approach by factoring in different fraud detection rules, such as static information, risk scoring rules, velocity rules, and predictive learning. This ensures an efficient, instant response to fraud, proactively blocking new threats and reducing fraud rates over time while enabling legitimate transactions.
Siron®One connects configurable business rules with multiple data points and tracks suspicious patterns and changes in risk scores to trigger ongoing KYC and enhance due diligence and stop financial fraud.
Using ML-based behavioral clustering, entity and transaction deviation scores, and alert prediction scores, Siron®One generates accurate alerts, reduces false positives, and detects anomalies and emerging fraud patterns. The Smart View feature visually highlights crucial information for quick, well-informed decision-making.
Siron®One’s Case Management displays alerts generated from real-time transaction monitoring, automates workflows, routes cases to the appropriate teams, assigns tasks, and tracks status—this streamlines fraud detection and prevention and investigation time.
Siron®One’s Customer 360 presents all relevant customer information, including historical transactions and risk scores. Customizable dashboards allow you to track fraud metrics and KPIs, helping you visualize, understand and contextualize transactional behavior without effort.