FraudNet is an AI-native fraud, risk, and compliance management software platform that helps financial institutions, fintechs, payment processors, and enterprise organizations detect and prevent fraud, manage risk exposure, monitor merchant compliance, and meet regulatory requirements in real time.
Designed for fraud operations teams, risk managers, compliance officers, and data scientists, FraudNet provides a unified platform that consolidates fraud detection, anti-money laundering (AML), KYB entity screening, sanctions and PEP screening, merchant risk monitoring, and transaction monitoring across cards, ACH, wires, and real-time payment rails (including FedNow and ISO 20022) into a single, integrated environment.
The platform serves banks, credit unions, payment service providers, merchant acquirers, fintechs, marketplaces, and digital commerce businesses processing high volumes of transactions that require adaptive, low-latency decisioning to reduce financial losses while minimizing disruption to legitimate customers.
FraudNet addresses core challenges common across the payments, banking, and financial services landscape: rising fraud rates and synthetic-identity attacks, growing regulatory complexity, high false-positive rates that create operational burden, and the need to act on emerging threats without lengthy model retraining cycles.
Key capabilities and features include:
• AI-native fraud detection and decisioning: Machine learning models that continuously adapt to new fraud patterns, enabling real-time scoring across transactions, accounts, applications, and identities -- covering payment fraud, account takeover and synthetic identity.
• Merchant risk monitoring: Purpose-built tools for monitoring merchant behavior and policy compliance, providing portfolio-level risk visibility through integrated alerts, case workflows, and a Portfolio Health Dashboard for payment processors, acquirers, and PSPs.
• AML compliance and entity screening: Integrated modules for anti-money laundering, KYB screening against OFAC, EU sanctions, PEP databases, FBI lists, and adverse media, with end-to-end case management, and auditable compliance workflows aligned to FinCEN, FATF, and EU AMLA standards.
• Network intelligence: FraudNet's Global Anti-Fraud Network aggregates anonymized fraud signals across billions of transactions, digital identities, and payment profiles spanning 185 countries, enabling risk scoring and pattern recognition for entities an organization has never encountered before.
• Data Hub: Seamless integration layer connecting FraudNet to an ecosystem of third-party data partners -- including Jumio, LexisNexis, Prove, TransUnion for identity verification, plus device fingerprinting, geolocation, and communications providers -- allowing organizations to enrich their fraud and risk programs without disrupting existing workflows.
FraudNet is delivered as a cloud-based SaaS solution with SOC 2, PCI DSS, and FATF-aligned compliance certifications, supporting API-based integration with existing technology stacks for deployment without full legacy system replacement.
Average Rating: 4.6/5.0
Total Reviews: 36
How Do G2 Users Rate FraudNet?
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Ease of Admin: 8.9/10 (Category avg: 8.8/10)
Who Is the Company Behind FraudNet?
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Seller: FraudNet
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Company Website:
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Year Founded: 2015
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HQ Location: New York, United States
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LinkedIn® Page: www.linkedin.com
68 employees on LinkedIn®
Who Uses This Product?
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Top Industries: Financial Services
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Company Size: 44% Small, 39% Medium
What Do G2 Reviewers Say About FraudNet?
AI-generated summary from verified user reviews
Pros
- Users value the customization options in FraudNet, allowing tailored rules that enhance precision and save costs.
- Users appreciate the ease of use of FraudNet, noting its sleek interface and effective customizable features.
- Users value the rule customization in FraudNet, enhancing precision and saving on costs effectively.
- Users appreciate the user-friendly interface of FraudNet, enjoying its sleek design and powerful filtering options.
- Users value the high accuracy of FraudNet, which saves money by creating tailored rules for their business.
Cons
- Users experience data management issues with transactions not clearing and incorrect flags appearing, impacting reliability.
- Users face issues with transaction errors, where some transactions don't clear and irrelevant flags appear.
- Users experience false alarms with transactions, where valid ones are incorrectly flagged or remain unprocessed.
- Users report issues with false positives, as some legitimate transactions are incorrectly flagged or stuck in queues.
- Users report transaction clearing issues where transactions linger in queues or are incorrectly flagged.
What Are G2 Users Discussing About FraudNet?
