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Mobile Money Fraud

As the use of mobile payments grows, so too do the risks of mobile payments fraud.

These risks can be mitigated with Sentinel Mobile Money.

Mobile Money – the Challenge

Mobile Payments provides a mechanism for conducting financial transactions using a mobile device as an alternative to using cash, cheques or credit cards. The mobile device is linked to a bank account, card account (credit, debit or prepaid) or stored value (e.g., prepaid wallets, online stored value, stored value cards) from which money is deposit or withdrawn.

Mobile Money services are extremely attractive to fraudsters and those seeking vehicles for money laundering.

How do we solve this problem?

The Sentinel fraud management solution encompasses monitoring and investigation of subscribers, agents, bank accounts, merchants and geographic regions to identify potential money laundering, commission manipulation, account theft or technical frauds.

About this module

The following features are incorporated into the solution:

Know You Customer (KYC):

Sentinel offers watch list checking, suspicious use of identifiers (e.g. national ID, email address, contact phone, bank account number, etc) and data validation controls (e.g. valid national identification number format, unlikely names, missing or invalid date of birth, etc.).

Account Activity:

Sentinel monitors account opening, closure and changes to identify suspicious activity. Activity is monitored for all subscriptions within a customer account as well as the account as a whole and relating possible duplicate customer accounts (see KYC above). Account Activity is monitored from the perspective of the subscriber, customer account and agent.

Transaction Monitoring:

Sentinel analyses every mobile payment and builds behavioural profiles of each subscriber, agent, bank account, merchant and geographic region.

Module Type

The Sentinel Mobile Money solution can be provided in whole or part. Broadly, the solution is comprised of four modules:

The KYC and Subscriber modules can be acquired independently. The Agent and Merchant modules depend on the Subscriber module.

Mobile Money – KYC module

Reconciliation of consumed service from Switch to Billing Comparison of aggregate data or CDR match Simple Root Cause Analysis

Mobile Money – Subscriber monitoring module

Reconciliation of provisioning profiles Simple rules based configuration Automated worklist emails Feedback loading and tracking

Mobile Money – Agent Monitoring module

Reconciliation of partner invoices against detailed consumption Track missing invoices Identify unbilled usage

Mobile Money – Merchant & Bank Account Monitoring module

Reconciliation of partner invoices against detailed consumption Track missing invoices Identify unbilled usage

Let’s collaborate

Send us an email,
to discuss your mobile money concerns.

The KYC and Subscriber modules can be acquired independently. The Agent and Merchant modules depend on the Subscriber module. For more information on these modules, please contact us.

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