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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ID Analytics: 6.9/10 (Category avg: 8.7/10)
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Intelligence Reporting: 7.0/10 (Category avg: 8.8/10)
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Has the product been a good partner in doing business?: 9.5/10 (Category avg: 9.5/10)
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Payment Verification: 8.5/10 (Category avg: 8.4/10)
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
64 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, enhancing precision and efficiency for their specific business needs.
- Users find FraudNet's ease of use appealing, thanks to its sleek interface and beneficial filtering options.
- Users value the rule customization in FraudNet, enhancing precision and saving costs effectively for their businesses.
- Users appreciate the easy-to-use interface of FraudNet, which enhances precision and saves money for businesses.
- Users value the accuracy of FraudNet, as it allows for tailored rules that enhance precision and reduce costs.
Cons
- Users report experiencing transaction clearing issues with FraudNet, leading to flagged transactions that cause confusion.
- Users report issues with error handling, where transactions remain stuck or incorrectly flagged, causing confusion.
- Users often face false alarms with FraudNet, where legitimate transactions are incorrectly flagged or get stuck in queues.
- Users report experiencing false positives with transactions being incorrectly flagged, leading to confusion and delayed processing.
- Users experience transaction clearance issues with FraudNet, leading to unnecessary flags on valid transactions.
What Are G2 Users Discussing About FraudNet?
