Account Takeover (ATO)
When a criminal gains access to a legitimate customer's account through stolen credentials, malware, phishing or other tactics and uses the account to conduct unauthorized transactions.
AML (Anti-Money Laundering)
The policies, systems, and processes banks use to detect and report suspicious activity related to money laundering, terrorism financing, and other financial crimes.
Behavioral Intelligence
Data that analyzes how a customer typically interacts with a bank's systems, such as login patterns, typing behavior, transaction habits or device usage. Unusual behavior can indicate fraud.
Counterparty
The person or organization on the other side of a transaction. For example, if a customer sends a payment, the counterparty is the recipient.
Device Intelligence
Information about the device being used to access an account or initiate a transaction. This can help identify suspicious activity, such as a login from an unfamiliar or high-risk device.
Financial Crime
A broad term encompassing fraud, money laundering, identity theft, scams, terrorist financing, and other illegal financial activities.
Faster Payments
Payment systems that allow funds to move between accounts almost instantly, often 24/7. Examples include real-time payments and other immediate payment networks.
Fraud Losses
The financial impact of fraud on a bank, including direct losses, customer reimbursements, investigation costs and operational expenses.
Identity Intelligence
Information used to verify that a person is who they claim to be. This may include personal information, account history, digital identity signals, and verification tools.
Irrevocable Payment
A payment that generally cannot be reversed once sent. Wire transfers and many real-time payments fall into this category, making fraud prevention especially important.
Mule Account
A bank account used to receive and move stolen or fraudulent funds. The account holder may knowingly participate in the scheme or be unknowingly exploited by criminals.
Network Fraud
Fraud schemes involving multiple individuals, institutions or accounts working together. These schemes are often difficult to detect when organizations only see their own data.
Payment Rail
The infrastructure or network used to move money from one party to another. Examples include ACH, wire transfers, card networks and real-time payment systems.
Phishing
A scam in which criminals use emails, text messages, phone calls or fake websites to trick victims into revealing sensitive information such as passwords or account numbers.
Real-Time Intelligence
Data and analytics available at the moment a transaction is being evaluated, allowing banks to make immediate risk decisions.
Social Engineering
The use of psychological manipulation to convince someone to disclose information, transfer money, or take an action that benefits a criminal.
Synthetic Identity
A fake identity created by combining real and fabricated information. Criminals use synthetic identities to open accounts, obtain credit, or evade detection.
Transaction Intelligence
Analysis of payment and transaction activity to identify suspicious behavior, unusual patterns, or potential fraud.
Receiving Institution
The bank or financial institution where transferred funds are sent and deposited.
Sending Institution
The bank or financial institution that initiates and transmits a payment on behalf of a customer.
Fraud and AML Silos
A situation in which fraud and anti-money laundering teams operate separately, limiting the information sharing that could help identify and prevent financial crime.