Glossary

Definitions and explanations of terms used in the platform

3D Secure (3DS)

Understanding 3D Secure authentication for secure online card payments

419 Fraud (Nigerian Scam)

Understanding the 419 Fraud, also known as the Nigerian Prince Scam or Advance-Fee Fraud

6AMLD (6th Anti-Money Laundering Directive)

Understanding the European Union's Sixth Anti-Money Laundering Directive and its impact on financial crime prevention

Absconder Fraud

Understanding Absconder Fraud, a type of fraud where individuals or businesses deliberately avoid paying their debts

Accidental Friendly Fraud

Understanding Accidental Friendly Fraud, where customers unknowingly or mistakenly dispute legitimate charges

Account Farming

Understanding Account Farming, a fraudulent practice of creating and nurturing multiple accounts for malicious purposes

Ransomware

Understanding Ransomware, a type of malicious software that encrypts data and demands payment for decryption

Honeypot

Understanding Honeypots, decoy systems designed to detect, deflect, and study cyber attacks

Burner Phone

Understanding Burner Phones, disposable mobile devices often used for temporary or anonymous communication

Wardrobing

Understanding Wardrobing, a form of return fraud where items are purchased, used, and returned as unused

Synthetic Fraud

Understanding Synthetic Fraud, a sophisticated form of identity fraud using fabricated or partially real information

Skimming

Understanding Skimming, a type of fraud where payment card information is illegally copied during legitimate transactions

SIM Swap Scam

Understanding SIM Swap Scams, where criminals take control of a victim's phone number to bypass security measures

Shipping Fraud

Understanding Shipping Fraud, where criminals exploit shipping services and addresses for fraudulent purposes

Social Engineering

Understanding Social Engineering, the psychological manipulation of people into performing actions or divulging confidential information

Phishing Scams

Understanding Phishing Scams, fraudulent attempts to obtain sensitive information by disguising as trustworthy entities

Pharming

Understanding Pharming, a cyber attack that redirects website traffic to fraudulent sites

Loan Fraud

Understanding Loan Fraud, where individuals or organizations obtain loans through deceptive means

Fraud Ring

Understanding Fraud Rings, organized criminal networks that collaborate to commit systematic fraud

Dark Web

Understanding the Dark Web, a part of the internet that requires special software to access and often hosts illegal activities

Cyberfraud

Digital fraud committed through internet-based technologies and electronic communications

Cross-Channel Fraud

Fraudulent activities that exploit multiple transaction channels to commit financial crimes

Card-Not-Present Fraud

Fraudulent transactions where a payment card is used without being physically present

Application Fraud

Fraudulent activities involving false or manipulated information in applications for financial products or services

Anti-Money Laundering International Database (AMLID)

A global database system for sharing information about money laundering activities and prevention measures

Acquirer (Acquiring Bank)

Financial institutions that process credit or debit card payments on behalf of merchants

Zombie Networks

Networks of compromised computers controlled by cybercriminals for malicious purposes

Zero-Day Attack

Cyber attacks exploiting previously unknown software vulnerabilities before developers can create patches

Yield Farming Scams

Fraudulent cryptocurrency investment schemes promising high returns through decentralized finance (DeFi) protocols

Wire Fraud

Criminal schemes involving the use of electronic communications to obtain money through false pretenses

Whitebox Machine Learning

Transparent and interpretable machine learning models used in fraud detection and risk assessment

Wangiri Fraud (Wangiri Scam)

A phone fraud scheme where scammers make brief calls hoping victims will call back premium rate numbers

Vishing

Voice phishing attacks using phone calls to deceive victims and obtain sensitive information

Visa Dispute Monitoring Program (VDMP)

A Visa program that monitors and manages excessive disputes and chargebacks for merchant accounts

Virtual Asset Service Providers

Businesses that facilitate transactions, exchanges, and storage of virtual assets like cryptocurrencies

Vendor Email Compromise (VEC)

A sophisticated form of business email compromise targeting vendor and supplier relationships

Velocity Checks

Fraud prevention measures that monitor the frequency and volume of transactions to detect suspicious patterns

Unsupervised Machine Learning

Machine learning techniques that identify patterns and anomalies in data without pre-labeled examples

Triangulation Fraud

A complex fraud scheme involving three parties to facilitate unauthorized purchases using stolen payment information

Trading Bot Scams

Fraudulent schemes involving automated trading software that promises unrealistic investment returns

Tor

The Onion Router, a network protocol and software for anonymous internet communication

Ticket Scalping

The practice of buying and reselling tickets at inflated prices, often using automated bots and fraudulent methods

Threatware

Malicious software designed to threaten or intimidate users into taking specific actions

Third-Party Fraud

Fraudulent activities committed by external parties using stolen or synthetic identities

Suspicious Activity Report (SAR)

Mandatory reports filed by financial institutions to alert authorities about potential financial crimes

Supervised Machine Learning

Machine learning approach that uses labeled training data to predict outcomes or classify new data

SSL Inspection

Security process of examining encrypted SSL/TLS traffic for potential threats and malicious content

Sports Betting Arbitrage

A betting strategy exploiting differences in odds between bookmakers to guarantee profits

Spear Phishing

Targeted phishing attacks that use personalized information to deceive specific individuals or organizations

Source of Funds

Documentation and verification process to establish the origin of financial assets in transactions

SOCMINT (Social Media Intelligence)

The collection and analysis of social media data for intelligence and investigation purposes

Social Media Profiling

The process of analyzing social media presence and behavior to create detailed user profiles

Sneaker Bot

Automated software used to purchase limited-edition sneakers and other high-demand products

Smurfing

A money laundering technique that breaks large transactions into smaller amounts to avoid detection

Self-Sovereign Identity

A digital identity system where individuals have complete control over their personal information

Second-Party Fraud

Fraud committed by someone known to the victim, often involving misuse of shared information or resources

Scareware

Malicious software that uses fear tactics to manipulate users into purchasing unnecessary software or services

Sanctioned Entity

Individuals, organizations, or countries subject to legal restrictions and financial prohibitions

Reshipping

A fraud scheme where stolen goods are shipped through intermediaries to obscure their destination

Refund Rate

The percentage of transactions that result in refunds, used as a key metric for fraud detection and business health

Recovery Scams

Fraudulent schemes targeting victims of previous scams with false promises of recovering lost money

Proof of Address

Documentation required to verify a person's residential address for identity verification and compliance purposes

Promo Abuse

Fraudulent exploitation of promotional offers and discounts through multiple accounts or deceptive practices

Politically Exposed Person (PEP)

Individual who holds or has held a prominent public function, requiring enhanced due diligence in financial transactions

Phishing

Fraudulent attempt to obtain sensitive information by impersonating trustworthy entities through digital communications

Payment Reversal

The process of canceling or undoing a financial transaction, either due to legitimate reasons or fraudulent activity

Payment Conversion Rate

The percentage of payment attempts that successfully complete, indicating transaction success and system efficiency

Payment Authentication

The process of verifying the identity of parties involved in a payment transaction to ensure security and prevent fraud

Passive Authentication

Authentication method that verifies user identity through behavioral patterns and device characteristics without active user input

P2P Fraud

Fraudulent activities targeting peer-to-peer payment systems and transactions between individuals

One-Ring Scam

A phone-based fraud scheme where scammers make brief calls to trick victims into calling back premium-rate numbers

Mobile Proxy

An intermediary server or service that masks mobile device identities and locations for privacy or fraudulent purposes

Matched Betting

A technique that exploits free bets and promotional offers from betting sites to generate guaranteed profits

Masquerade Attack

A cyber attack where the perpetrator impersonates a legitimate user or system to gain unauthorized access

Manual Review

Human analysis of transactions or activities flagged as potentially fraudulent by automated systems

Man-in-the-Middle (MitM) Attack

A cyber attack where an attacker secretly intercepts and potentially alters communications between two parties

Machine Reasoning

AI technology that enables computers to make logical decisions and inferences based on available data and rules

Link Analysis

A data analysis technique that examines relationships and connections between entities to identify patterns and potential fraud

KYC (Know Your Customer)

A mandatory process of verifying the identity of customers and assessing their potential risks in financial services

KYB (Know Your Business)

A due diligence process for verifying business entities' identities, ownership structures, and assessing their risk profiles

Job Scams

Fraudulent employment schemes designed to deceive job seekers and steal personal information or money

Jamming Attacks

Malicious interference with wireless communications to disrupt or block legitimate signals and network operations

IP Address

A unique numerical identifier assigned to devices connected to a computer network using Internet Protocol

Initial Fraud Alert

A preliminary warning placed on credit reports to notify potential creditors of possible fraudulent activity

Identity Threat Detection and Response

A security framework for identifying, monitoring, and responding to identity-based threats and attacks

Identity Theft/Identity Fraud

The criminal act of stealing and using another person's personal information for financial gain or other fraudulent purposes

Home Location Register (HLR)

A central database containing subscriber information and location data in mobile telecommunications networks

Heuristic Rules

Experience-based problem-solving techniques used in fraud detection and risk assessment systems

Graph Neural Network (GNN)

A specialized deep learning architecture designed to process and analyze data represented as graphs or networks

Fullz

Complete sets of stolen personal and financial information used for identity theft and fraud

Fraud-as-a-Service

Criminal business model offering ready-made fraud tools, infrastructure, and services to other criminals

Flagging

The process of marking suspicious transactions, accounts, or activities for further review in fraud detection systems

First-Party Fraud

Fraudulent activities where individuals deliberately misuse their own accounts or credentials for financial gain

False Positives

Legitimate transactions or activities incorrectly identified as fraudulent by fraud detection systems

False Negatives

Fraudulent transactions or activities that fraud detection systems fail to identify as suspicious

False Declines

Legitimate transactions incorrectly rejected by payment or fraud prevention systems

Evercookie

A persistent tracking mechanism that stores browser cookies in multiple locations to resist deletion attempts

Enhanced Due Diligence

Additional scrutiny and investigation applied to high-risk customers or transactions in compliance processes

Emulator

Software or hardware that mimics the behavior of another system, often used in both legitimate testing and fraudulent activities

Drop Address

A temporary location used to receive fraudulently obtained goods or materials before they are forwarded to criminals

Customer Identity and Access Management (CIAM)

A framework for managing customer identities, authentication, and access control across digital services

Customer Identification Program (CIP)

A mandatory process for financial institutions to verify customer identities and assess potential risks

Cryptojacking

The unauthorized use of computing resources to mine cryptocurrency without the owner's consent

Cross-Browser Fingerprinting

A technique for tracking users across different browsers by creating unique device identifiers based on system characteristics

Cross-Site Scripting (XSS)

A web security vulnerability that allows attackers to inject malicious scripts into websites viewed by other users

Credit Card Decline Codes

Standardized response codes that indicate why a credit card transaction was rejected by the issuing bank or payment processor

Cookie Stuffing

A fraudulent technique where unauthorized cookies are placed on users' browsers to claim affiliate marketing commissions

Cookie Hash

A cryptographic value generated from cookie data to verify integrity and detect tampering in web applications

Compliance as a Service (CaaS)

A cloud-based service model that helps organizations meet regulatory requirements and maintain compliance standards

CNAM (Caller ID Name)

A telecommunications service that displays the caller's name alongside their phone number on the recipient's device

Clean Fraud

A sophisticated form of fraud where transactions appear legitimate by using stolen but valid payment credentials and accurate customer information

Chip Dumping

A form of collusion in online gambling where players deliberately lose chips to transfer funds illegally between accounts

Chargebacks

A forced transaction reversal initiated by the cardholder's bank, often due to disputed transactions, fraud, or dissatisfaction with purchases

Chargeback Recovery

The process of disputing and recovering funds lost through chargebacks by presenting compelling evidence to prove the transaction's legitimacy

Chargeback Rate

The ratio of chargebacks to total transactions in a given period, used to measure merchant risk and account health

Certificate Fraud

The creation, use, or manipulation of fraudulent digital certificates to deceive users or bypass security measures

Carding

A form of credit card fraud where criminals test stolen card data through multiple small purchases to verify card validity

Card Testing

A fraudulent practice where criminals test stolen credit card numbers with small transactions to verify their validity before making larger purchases

Authorized Push Payment (APP) Fraud

A scam where victims are deceived into authorizing payments to fraudulent accounts, often through social engineering or impersonation

Auction Fraud

Deceptive practices in online auctions where sellers or buyers manipulate the bidding process or misrepresent items for financial gain

Arbitrage (Arbs/Arber)

The practice of taking advantage of price differences between markets to generate profit with minimal risk

Age Verification

The process of confirming a user's age to ensure compliance with age-restricted services and legal requirements

Address Verification Service (AVS)

A fraud prevention system that verifies the billing address provided by a customer against the address on file with their credit card issuer

Active Authentication

A dynamic security process that verifies user identity through real-time challenges or interactions during authentication attempts

Card Purchase Authorization

The process of verifying and approving a credit or debit card transaction at the point of sale

Card Cracking

A fraudulent scheme where criminals attempt to guess or decode credit card information through various methods

Card Cloning

The illegal duplication of payment card data onto counterfeit cards for fraudulent transactions

Canvas Fingerprinting

A web tracking technique that identifies users by creating a unique digital fingerprint based on their browser's rendering of HTML5 canvas elements

Browser Hash

A unique identifier generated from browser characteristics and settings to track and identify users across sessions

Biometric Verification

The process of confirming an individual's identity by comparing their physical or behavioral characteristics against previously stored biometric data

Biometric Authentication

A security method that uses unique physical or behavioral characteristics to verify user identity for access control

Blackbox Machine Learning

A machine learning approach where the internal workings of the model are not transparent or interpretable to users

Business Email Compromise (BEC)

A sophisticated form of cybercrime where attackers impersonate business executives or partners to conduct unauthorized fund transfers

Business Verification Services

Services that validate the legitimacy and credentials of businesses through various authentication and verification methods

Blended Threat

A sophisticated cyber attack that combines multiple types of malware and attack methods to create a more effective security threat

Behavioral Analysis

A security technique that monitors and analyzes patterns in user behavior to detect anomalies and potential threats

Botnet

A network of compromised computers controlled by malicious actors to perform coordinated cyber attacks

Bank Drop

A fraudulent bank account created or obtained for the purpose of receiving and laundering illegally obtained funds

BIN Attack

A fraud technique targeting the Bank Identification Number (BIN) of payment cards to generate valid card numbers for fraudulent transactions

Account Takeover

A form of identity theft where criminals gain unauthorized access to and control of a user's account