Products & Services
In today’s lightning-fast world of cyber fraud, detection & prevention require a comprehensive, low latency approach to matching data points with activities to uncover abnormalities and stop hackers.
All Benefits for Every Service
At every level for every service FraudBlock provides, these benefits help businesses at by replacing costly manual employee processes and procedures, thus reducing organizational risks, and protecting customers.
Globally available, multi-tenant, stateless, and redundant.
Hosted, secure, and private blockchain as the system of record to prevent data manipulation.
Zero planned downtime with real-time platform updates = no scheduled maintenance downtime.
KYC, AML, and BSA compliant in secure data collection and management.
Reduce employee security training, eliminate email phishing fraud, and increase business velocity.
API to run as a Software as a Service (SaaS), or with Enterprise Resource Planning (ERP) or Customer Relationship Management (CRM) integration.
Routinely updated security enhancements, machine learning models, and new feature advancements.
Subscription-based, cost-flexible with a custom NOC (Network Operations Center) for monitoring critical KPIs.
Blockrails™ is the real estate industry’s premium provider of transaction fraud protection services. Blockrails™ is an exclusive product for NAR members to pre-screen prospects, efficiently manage deal flow, eliminate payment fraud, and make home-buying safe and easy.
Blockrails™ helps agents pre-screen prospects, manage their deal flow efficiently, eliminate fraud and make home-buying safe and easy.
Blockrails™ eliminates the need for paper checks with safe, secure, and guaranteed earnest money deposit payments. Going beyond secure payments, Blockrails™ provides some of the most sophisticated fraud detection and protection technology available today. NAR members have unlimited monthly use with their Blockrails™ subscription.
Legal & Compliance
Law firms, Escrows, and Trusts have maintained (and even doubled down) in recent years on manual processes in the fight against fraud. This ranges from in-person meetings, phone calls, and video conferencing to paper checks, screenshots, and wet signatures in the validation of accounts and parties in the movement of money. 9.99% of payment fraud risk and these manual processes can be eliminated, through integrated and efficient use of advanced technology, intelligence, and automation.FraudBlock™ can measurably help by replacing costly manual employee processes and procedures, thus reducing organizational risks and protecting customers.
Ensure regulatory compliance by preventing fraudulent parties
Validate parties before the release of Escrow payments
Verify payments from Trusts are always going to the right party
Private equity, venture capital, real estate, and other financial sectors that deal with large amounts of cash flow are at the most considerable risk when it comes to wire fraud. As fraudsters adapt to new technologies, they find more sophisticated ways to place themselves in the middle of high-value transactions. Unfortunately, most capital market and financial firms underestimate how easy it is to unknowingly compromise information and what the financial impact of impersonation actually is.
In 2020, the Internet Crime Complaint Center (IC3) reported a 70% increase in cybercrime attacks from 2019, where complaints reported more than $4.1 billion in monetary losses. The most common cybercrime incidents reported were phishing, BEC (Business Email Compromise), ransomware, and investment fraud, with BEC having the most significant impact. Importantly, the number of attacks and total monetary losses are likely much higher than what’s been reported, as there is a reputational incentive to keep these incidents private.
FraudBlock can help financial institutions, large or small, find a way to move beyond just the development of operational processes and address more advanced business challenges. We can help banks and financial businesses harness richer data insights by delivering intelligently powered fraud detection solutions at greater speed, helping support optimizing financial reconciliations.
Using FraudBlock™ to ingest large volumes of data in real-time, our machine learning models can bring greater reliability to the validity of account creation and account activity, combined with up-to-date insights, to develop more robust fraud detection.
Our unique modeling helps both simplify and streamline fraud management in the customer-account lifecycle, allowing businesses to focus more on developing greater customer services and improving engagement to increase the bottom line.
Payment Service Providers
FraudBlock™ helps payment service providers and payment gateway services to take full control of fraud management by eliminating threats, bad merchants, and fraudsters from their processes and workflows.
Providing real-time fraud detection and prevention on all fronts, FraudBlock™ helps users build stronger merchant relationships and process more secure payments with a “fraud safe” peace of mind.
FraudBlock™ can measurably save time, money, and staff resources on manual reviews by automatically delivering important data to operators when using our NOC (dashboard). By combining the power of email, IP, device, and behavior analysis with machine learning, FraudBlock helps support making informed decisions using data visualization and reporting features.
How does fraud impact
of Organizations experienced attempted and/or actual payment fraud in 2021
of Organizations indicated there had been an increase compared to 2020
of Organizations were targeted by Business Email Compromise in 2021
of organizations validate payment info using a third party service