Detecting and Preventing Fraud

The last two years have accelerated the adoption of fintech solutions across all businesses for a digital-first approach their customers, but with this came the rapid rise of fraud.
Online Fraud reported by consumers: 2019, 1.9 billion dollars. 2020, 3.3 billion dollars. 2021, 5.9 billion dollars. 2022, 8.8 billion dollars.Online Fraud reported by consumers: 2019, 1.9 billion dollars. 2020, 3.3 billion dollars. 2021, 5.9 billion dollars. 2022, 8.8 billion dollars.

Marketplace Fraud is a big deal.

Marketplaces have to walk a fine line between being easy to use and protecting their communities.


of all user generated content is fradulent


in losses from consumers shopping online in 2021


the amount users reduced their spending after an ATO attack

Impact of Fraud on Business & Users

The impact of fraud globally in 2022 and the projected value in 2023:

$41 billion in 2022
Projected to be $48 Billion in 2023
Customers lost $8.8bn in 2022

Fraud Schemes That Impact Businesses

Fraudsters don’t wake up thinking about what type of fraud to use. They identify weaknesses in a business and deploy fraud vectors for the fastest impact.

First-Party Fraud

First-party fraud is when the actual account holder or identity owner is also the bad actor committing the fraud. 

Read more about how real-time monitoring can stop first-party fraud:

Download Solution Sheet
Types of First-Party Fraud

New Account Fraud - Account owner is involved in the fraud scheme.

Money Mule - Account Owner is being controlled by a bad actor without knowledge.

Bust Out Fraud - Many accounts linked to the same account in a short period of time.

ACH - Fraudulent transfer of funds through the ACH Network using account details.
Types of Third-Party Fraud

Account Takeover
-  Identity theft where fraudsters use compromised credentials to log in to a service.

Payments - Unauthorized purchases made with stolen account information.

Fake Accounts - Abuse of promotional offers by businesses that attract fake and spoofed accounts from fraudsters.

Third-Party Fraud

Third-party fraud is fraud committed against organization or merchant by an unrelated or unknown third-party.

Being able to stop fraud requires real-time monitoring of data and the ability to modify rules instantly. See how Unit21 can help:

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Explore New Check Fraud Features

Dark Web Monitoring

Find stolen checks before they reach the bank by alerting suspicious activity on the dark web and social media.

Check Fraud Investigation Toolkit

Centralize and automate all check transactions, historical deposits, & image comparisons in one place.

AI Agent for Investigations

Work alerts and reduce false positives with clearer insight and action through AI-driven investigations.

Stop Bad Actors and
Empower Fraud Professionals

Your fraud professionals need a flexible infrastructure like Unit21 for monitoring users in real-time to identify suspicious activity and prevent fraud losses.

Monitoring Users in Real Time

  • Ingest any type of data into a central location to streamline investigations

  • Get immediate notifications & block suspicious transactions before they are authorized

  • Visualize all your ingested user data in one place for 360 degree view of user activities

Reduce False Positives

  • Create, test & launch new rules within minutes

  • Quickly iterate on & test rules without vendor assistance

  • Machine Learning to aid alert prioritization, reduce investigation time, and prevent backlogs

Investigations and Recovery

  • Aggregate data dashboard with visualizations for monitoring

  • Instantly modify alerts and rules as fraud vectors are detected

  • Review transactional data, alerts and users to conduct fraud investigations to aid in loss recovery

You're in Good Company.

Trusted by millions of users every day, Unit21 powers companies and organizations of all sizes all around the world.

Trusted by leading Fintechs, Banks, Payments Companies, And Crypto Companies

Getting started is easy

See first-hand how Unit21 can help bolster your fraud operations.