Features & benefits
Institution level rules
Institution-level rules can be used to detect uncharacteristic outgoing activity, based on the institutions involved in a payment transaction. You can define these rules based on individual payments (e.g. amount, destination, time the message was sent), or on your past traffic patterns (e.g. new payment corridors or aggregate value and volumes). The service includes a Risk Scoring rule, which can be used as an additional control.
Account level rules
Detect anomalies at account level, based on rules that leverage unique data from the entire Swift network. From 2023, you’ll be able to detect new scenarios and duplicate payments on debtor and creditor accounts. Additionally, you can create ‘forbid’ and ‘allow’ account lists for monitoring, and these rules can, like others, be combined with other rule types.
Combine rules based on your risk appetite
Payment Controls allows you to easily configure and rapidly deploy flexible rules tailored to your risk appetite. These rules can combine to help you manage different scenarios to detect fraudulent or anomalous payments. For example, outside of your business hours, you can choose to block messages that exceed a certain threshold only.
Alert or intercept outlier payments
Each rule for anomaly detection can be set in ‘blocking’ or ‘non-blocking mode’. In non-blocking mode, the outgoing message will be sent over the Swift network and you will receive an alert. In blocking mode, the outgoing message will be held until you make a ‘2-eye’ or ‘4-eye’ decision to release or abort the message.