Case Study: Major Digital Bank stops money mule fraud with Feedzai Digital Trust

Feedzai’s Digital Trust Helps Challenger Bank Take on Money Mule Networks and Protect Customers

Major Digital Bank, one of Europe’s largest digital banks with over 1.2 million clients and $10 billion in customer assets, was struggling to shut down an active money mule network using its platform as a clearinghouse for fraud. The bank needed a way to identify bad actors quickly, prevent new account-opening fraud, and help authorities trace and prosecute the people behind the mule accounts. To address this challenge, it turned to Feedzai and its Digital Trust solution.

Feedzai implemented Digital Trust with BionicIDs, behavioral biometrics, device intelligence, network analysis, and fraud-hunting tools to uncover how the mule network operated and link related fraudulent accounts. The bank used this intelligence to block offending accounts in real time, ultimately identifying and blocking over 400 money mule accounts and doing so within less than 15 minutes in one case. Feedzai also helped the bank gather evidence to support law enforcement investigations into the criminals behind the scam.