Fraud Detection Agent

The Problem

Traditional fraud detection runs on static rules: flag anything over a certain dollar amount, block transactions from certain countries, alert on velocity changes. Fraudsters figure out these thresholds quickly. Meanwhile, your team drowns in false positives, wasting time investigating legitimate transactions while genuinely suspicious activity slips through. For Australian financial services firms regulated by APRA and AUSTRAC, a missed fraud pattern can mean both financial loss and regulatory scrutiny.

How It Works

The agent builds a behavioural profile for each account based on transaction history, typical amounts, timing, and geography. When a new transaction arrives, it scores it against that profile in real time. A retiree suddenly making crypto purchases at 3am looks different from a day trader doing the same thing. The agent considers this context rather than applying blanket rules. Flagged transactions go straight to your case management system with an explanation of what triggered the alert, so investigators can act quickly.

Reducing False Positives

The real value here is not just catching fraud but stopping the noise. When your compliance team spends less time chasing false alerts, they can focus on the cases that actually matter. The agent integrates with platforms like Temenos T24 and Fiserv, fitting into your existing transaction processing pipeline without requiring a rip-and-replace. If you’re dealing with high false positive rates or want to discuss how this applies to your AML/CTF obligations, talk to our AI agent development team.