Breaking Barriers in Fraud Prevention: How Peleza’s AML is Paving the Way for African Businesses.

Peleza Blog 12.3

In an environment witnessing escalating online activity and increasingly sophisticated fraudsters, digital businesses in Africa face a daunting challenge in safeguarding their operations from fraud. Peleza combines fraud detection and AML capabilities into a singular, comprehensive tool for identifying entities and customers with previous fraudulent tendencies. The Association of Certified Fraud Examiners (ACFE) estimates that organizations lose a staggering 5% of their revenue to fraud annually, surpassing $3.6 billion globally. This financial harm is exacerbated by the surge in online activity, necessitating a shift from traditional due diligence processes to more robust security-focused measures.

Peleza’s AML solution is a quick and effective fraud prevention tool designed to confirm the legitimacy of users, whether new or returning, by distinguishing them from impersonators with malicious intent. By seamlessly integrating into day-to-day customer transactions, Peleza’s AML solution employs advanced technology, including rules and machine learning data insights, to combat cybersecurity challenges in real-time.

Financial institutions and AML-regulated entities must prioritize platform and customer security to mitigate the risks of money laundering and fraud. Peleza assists in preventing fraud attacks through a range of checks, including tracking multiple accounts with identical details, conducting backend checks, identifying suspicious loyalty program activities, and generally monitoring customer behaviour. Peleza addresses two critical aspects—fraud prevention and regulatory compliance. By helping companies detect and eliminate fraudsters among their customers significantly reduces the financial and reputational risks associated with money laundering, terrorist financing, and fraud.

Additionally, it aids AML-regulated companies in understanding the regulatory status of their customers. This all-in-one compliance and security solution includes Emailage API, Phone Intelligence, name intelligence, and IP Intelligence. This enables accurate customer verification and tracking of past and present online activities, all accessible through a single dashboard. This extends to easy integration, reduced overhead costs, real-time fraud prevention, and enhanced regulatory compliance.The effectiveness of fraud prevention systems lies in accessing extensive customer data.

Peleza focuses on three critical points: email, name, phone number intelligence, and IP address intelligence. By inputting this information into the fraud detection system, businesses receive data-driven responses and risk scores, allowing them to approve, decline, or initiate appropriate reviews.

Getting Started:Peleza’s AML solution is an AI-powered fraud detection and prevention solution. Seamlessly integrate via our dashboard, mobile SDK, or RESTful API for swift risk assessment from onboarding. Automate verification, cut costs, and enhance your business’s resilience against fraud. Sign up here.