JT Scam Signal
A huge step forward in eradicating APP fraud
Detect the signs of APP fraud in real-time
Instigate pro-active measures to stop APP fraud from happening
Reduce your exposure to mandatory reimbursement regulation
Protect your customers from financial loss
Integrate real-time telecom data into your fraud engine
Join four of the UK's leading high street banks using Scam Signal
Used by the UK’s leading high-street banks to detect APP scams in real-time
Are you prepared for the Mandatory Reimbursement Regulations
Protect your customers from being tricked into making fraudulent payments
A seismic shift in how banks combat APP fraud
With the UK’s leading high street banks using Scam Signal and the first bank protecting its 14 million customers, the Scam Signal solution has reported impressive results:
- 41% reduction in scams in progress
- 44% reduction in overall fraud
- 55% reduction in false positives
What you need to know about APP fraud
Coercive impersonation fraud
APP fraud is when criminals coerce consumers or businesses into making fraudulent payments by impersonating trusted individuals. Criminals now target through a wide variety of scams from impersonating bank staff, romance scams and CEO scams, through to conveyancing scams.
The world's leading fraud threat
Authorised Push Payment or APP fraud represents 75% of all digital banking fraud, with losses expected to reach $6.8 billion dollars by 2027. In the UK regulators have taken decisive action with Mandatory Reimbursement regulation.
The effect of Mandatory Reimbursement on banks
The UK's Payment Systems Regulator has now mandated banks and PSP's to reimburse the victims of APP fraud within five working days as of October 7th 2024. This regulatory shock is especially damaging to tier-2 challenger banks and fintechs that run on leaner resources.
Spot scammers calling your customers
Telephone-based APP scams account for 43% of the total value of APP fraud cases.
Scam Signal is the first collaboration between the UK banking and telecommunications sector dedicated to addressing Authorised Push Payment fraud.
Industry Collaboration
Emerging from a need for financial services to better authenticate customers and assure the integrity of mobile devices JT were the first to deploy mobile intelligence services to banks. We're delighted with our collaboration with the UK's financial services sector, mobile network operators and as a channel partner of the GSMA's Open Gateway initiative in bringing Scam Signal to the market.Mobile Intelligence provides an incredible opportunity for banks to add effective mechanisms into their work-flows to assess the levels of risk associated with high value transactions so that proactive measures can be taken to protect consumers from fraud.
“We are seeing record cases of APP fraud in the UK. As advancements such as biometrics has disrupted other avenues for criminal’s they’ve turned to elaborate impersonation scams to circumvent traditional cyber security efforts. This has seen a rapid increase in fraudsters impersonating banks, contacting account holders and coercing them to transfer money to them via fraudulent Authorised Push Payments. Traditionally this has been very difficult to spot, up until now. Scam Signal provides the opportunity to red-flag suspicious behaviour and enable banks to proactively prevent this kind of fraud from happening.
With mandatory reimbursement having come into effect, smaller banks and fintechs risk being inundated by reimbursement claims if they cannot get to grips with the increasing levels of fraud that we’re now experiencing.”
Clare Messenger – Head of Mobile Intelligence and Fraud Protection
WHY JT
The experts providing Mobile Intelligence to enhance fraud protection
JT expose the wealth of data available from mobile network operators. We provide real-time CRM data, mobile device and behaviour intelligence checks that are focussed on reducing the risk of financial fraud and infiltration by bad actors.
With the rapid proliferation of phone-based fraud, the integration of mobile intelligence data into existing fraud and risk engines within the banking and financial services sector has become a necessity to fight new and emerging threats, and meet the challenge of APP fraud and financial crime.
SIM Swap detection
Number porting checks
KYC & AML checks
Call forwarding active check
Silent Authentication of device
Account tenure checks
Transactional SMS aggregator services
Roaming status detection
Our Partners
ACI Fraud Management
Cisco
Link Mobility
