Check Fraud Prevention

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Whether there are weak links in existing financial systems or some gaps in our financial knowledge, fraudsters and scammers use both of them. Online operations due to their activity become not so safe and secure as we wish. The main data about fraud detection and fraud prevention tools is presented here.

What can we do for fraud detection?

Before we look at the fraud prevention tools, let’s pay attention to the warning signs that are helpful for fraud detection:

  • Requests for depositing the check and sending back money. Such sentences in most cases lead to the scam. Fraudsters use the floating period to rob the victim.
  • Demands to keep the information about a purchase or other financial activity private, especially including your bank. If you talk to others about such issues you can learn from their mistakes. Therefore, it’s one of the best fraud prevention tools. At least, do not hesitate to call your bank if you have any doubts about the operation related to money.
  • Requirements to do the operation or to make a decision quickly. A sense of urgency often leads us to different types of mistakes and scammers know about it perfectly well.

Therefore, it is advisable both to use a reliable anti-fraud system and be aware of the tricks that fraudsters use to delude people.

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Covery: risk management software

If you are looking for trustworthy fraud prevention tools to use in Europe or in the USA, pay attention to Covery. This anti-fraud System is highly reliable because it is based on the following mechanisms:


The reputation record is made for each user utilizing 12 identifiers. Such records cannot be forged, allowing online merchants to detect known fraudsters on the fly.

Device Fingerprinting

The anti-fraud system collects all the hardware/software data from the device that is used for any activities. This helps define whether a legitimate user logs in, or if their account details were stolen and a scammer tries to defraud you.

Machine Learning

A specific logic analyzes risks according to your business and its needs.

KYC/KYB/AML Automation

KYC Automation These procedures can be performed manually, but it’s better to save time and money through their automation additionally increasing the security.

Analysis and Reports

The system not only provides a wide range of fraud prevention tools but also analyzes your clients and customers, creates in-depth reports that are highly useful for building appropriate strategies for safe online operating.

In a nutshell, you’ll be totally satisfied with such risk management software as it automates most of the time-consuming procedures related to safety and protection from scammers and fraudsters. It is advisable to remember about their activity and the best ways to protect your business and your clients and customers.

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