Fraud Risk Management

Fraud Risk Management function as part of NPCI has designed and implemented a Real-time Fraud Risk Monitoring and Management solution (FRM). The solution is envisaged as a value added service offered by NPCI to its member participants as a real-time monitoring tool for fraud detection and prevention. This solution is intended to be implemented for all the on-line products offered by NPCI.

This system has the capability to process transactions in Real Time (RT) and Near Real Time (NRT) mode using model scores based on Machine Learning & Artificial Intelligence. Member banks monitor the alerts & identify frauds through web based access provided by NPCI. The system also facilitates fraud reporting for member banks.

NPCI carries out workshops and training sessions for its stakeholders on an ongoing basis. These workshops and training sessions are conducted to support member banks in understanding the requirement of fraud risk monitoring and management solution to reduce fraud exposure as well as to explain/demonstrate various features and functionalities the system encapsulates.

Based on fraud reporting by member banks data is analysed to identify fraud trends, take corrective and mitigating action and also initiate ecosystem level changes by engaging with relevant stakeholders to safeguard the interest of member banks and their end customers.

*This service is currently offered as a Value added service without any charges.