FICO and Jersey Telecom Collaborate to Tackle Authorised Push Payment Fraud

In the fight against the growing problem of financial scams, global analytics software leader FICO has collaborated with Jersey Telecom (JT) to develop a powerful solution that enables direct, near real-time intervention to protect customers.

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FICO and JT worked with leading UK banks to identify the most relevant telephony signals that indicate an active scam. The FICO Customer Communications Service Scam Signal, currently available in Jersey, the UK and Spain, and with plans to expand to other markets, is the first real-time application of telephony data being used with customer and payment data to tackle the issue of Authorised Push Payment (APP) fraud.

“Authorised Push Payment fraud is where consumers are tricked into sending authorised payments to scammers,” explained Clare Messenger, Head of Mobile Intelligence Solutions at JT. “This type of fraud is growing around the world; 2023 losses in the UK alone reached £460million. To protect customers from being caught by such scams, the new FICO and JT solution enables direct intervention with the customer to quickly determine if a payment should proceed.”

To build the solution, JT worked with the GSMA (Global System for Mobile Communications Association) and the UK Mobile Network Operators to access various mobile network insights within a privacy compliant framework that protects customers’ personal data. FICO analysis found strong correlations between a customer’s mobile phone behaviour and the likelihood that a scam is taking place. For example, a customer may be actively coached through security or manipulated by a fraudster into making a payment during a mobile phone conversation.

The Scam Signal uses advanced analysis of real-time network data together with customer and payment data, during live transactions, to effectively detect and mitigate social engineering attempts aimed at deceiving and defrauding account holders. The Scam Signal can incorporate this data from across 2G, 3G, 4G, 5G, VoLTE and Wi-Fi calling for multiple mobile network operators and is currently being extended to support UK landlines.

“The integration of Scam Signal within the FICO Customer Communications Service allows banks to present customers with personalised, omni-channel and highly contextualised messages that break the scammer’s spell for high-risk activities,” said Adam Davies, vice president of product management at FICO.