Risk management software solution provider, Neural Technologies, has implemented its Minotaur solution to manage mobile payments fraud at a leading African mobile telecoms operator.

Neural Technologies’ Minotaur mobile payments fraud management solution will monitor every stage of the mobile payment transactions carried out on the African operator’s mobile payment platform.

This includes monitoring the various entities involved in each mobile payment transaction: sender, recipient and dealer. This information is cross-referenced with payment data and subject to comprehensive analysis to highlight characteristics or anomalies that may be indicative of fraudulent activity.

Analysis is carried out using a variety of advanced techniques, including link analysis, analytical modelling and behavioural profiling, in addition to traditional rules based monitoring.

The solution will integrate with law enforcement agencies, providing an effective communication channel to permit the reporting and sharing of information.

Neural Technologies was selected by the operator following a comprehensive selection process which saw Minotaur replacing a previous third-party fraud management solution.

The main reasons for Minotaur’s selection were cited as: its unique proprietary technology, unavailable from other suppliers; its flexibility to accommodate new emerging network services; and its ability to integrate with external systems and departments.
Commercial Director for Neural Technologies, Luke Taylor, said: “We are delighted to have been selected by this operator and to be at the forefront of managing mobile payments fraud. This implementation has taught us much about managing fraud and risk in mobile payments. We would like to share what we have learnt with other mobile operators and to this end have put together a report describing the varying mobile payment technologies and the fraud risks associated with them”.

The Mobile Payments Overview – Fraud Management report contains recommendations on how to reduce fraud in mobile payment environments and is offered free of charge (and without obligation) to telecoms operators.