FraudsniperFMS™ FAQ

FraudSniper FAQs

What is FraudSniper?
FraudSniper is a comprehensive fraud detection and management solution for financial institutions. It uses machine learning, rules-based detection, and analytics to monitor and protect financial transactions across all channels.
What types of fraud does FraudSniper protect against?
The solution protects against both external threats like compromised credentials, stolen devices, and internal threats like insider fraud, fake instruments, auto-generated transactions.
How does FraudSniper detect fraud?
It uses transaction analytics, behavior profiling, predictive risk scoring, and configurable fraud rules to detect and respond to suspicious activity in real time.
What are some specific use cases of FraudSniper?
  • Internal fraud by bank staff
  • Transactions from hacked accounts
  • Use of stolen devices
  • Fraud using fake instruments
  • Extortion-based transactions
  • Fake product/service scams via bank transfers or cards
What channels does FraudSniper cover?
It monitors Internet Banking, Mobile Banking, ATM, POS, SWIFT, USSD, Treasury, Core Banking, Online Cards, and other financial platforms.
What are some benefits of using FraudSniper?
  • Real-time detection and response to suspicious transactions
  • Increased visibility of fraudulent activities
  • Automated fraud case management
  • Enhanced fraud resolution rates
  • Reduced workload on fraud teams
  • Improved customer trust through fast resolution
Can customers report fraud directly?
Yes, FraudSniper includes a fraud report module that allows customers to report and resolve fraud cases independently or escalate them to the bank/financial institution.
How does FraudSniper score transactions?
Each transaction is analyzed and assigned a fraud risk score based on account behavior, transaction type, amount, channel, and other risk factors.
Can banks customize fraud rules?
Yes, banks can configure fraud intelligence rules and set institution-wide security levels and action triggers.
How fast does the FraudSniper API process transactions?
The API processes each transaction risk within a maximum of 0.8 seconds, assuming all required infrastructure is present.
Is there a dashboard for monitoring?
Yes, FraudSniper provides dashboards for:
  • Real-time fraud activity summaries
  • Tabular views of suspicious transactions
  • Detailed transaction inspection
  • User behavior auditing
  • Fraud case tracking
Can fraud be resolved between customers without involving the bank?
Yes, customers can report and resolve certain fraud issues directly within the module.
What APIs are available for integration?
FraudSniper includes both Fraud Import and Export APIs for cross-platform integration and automated data handling.
What are the default system requirements?
FraudSniper requires integration with existing bank systems and channels, internet access, and compatible hardware to ensure real-time transaction monitoring.
What support does CloudSpace provide post-implementation?
CloudSpace offers remote support, issue tracking, response to system faults, and help via a dedicated contact personnel during agreed service times.
Can new modules or integrations be added later?
Yes, additional modules or integrations can be requested under an agreed-upon fee.
How can I contact CloudSpace Technologies?
8A, Sir Samuel Manuwa St, Victoria Island
106104, Lagos – Nigeria