Fraud and Financial Crimes

Fraud and Financial Crimes

We now analyse the complexities of financial crimes and how we can protect sensitive information from criminals and fraudsters. By out-innovating the most innovative of hackers, we can ensure that your data is completely safe and transactions are secure.


The fight against the corrupt is a tale as old as time. With the payment industry all set to see rapid growth with a flurry of innovative solutions, fraudsters are looking to out-innovate them. What usually happens is that the payment industry puts in a new security feature, the bad guys find a tiny loophole to extract the sensitive financial data. To compete in the digital payment arena, the security framework must advance, evolve, morph, and mutate to stay a step ahead of the threats.

Bankers, merchants and businesses have prioritised their investments on data security and risk management. Identity imposters knit a synthetic digital-only identity based on real and fictitious information. There are a few fool-proof methods which can completely halt these imposters before they start phishing your sensitive financial information. As a leading payment solutions provider, Tyche payment solutions take up a number of risk-management activities which have proven effective against hackers, fraudsters and imposters.

  • E-KYC Validations – A paperless process which registers the client with the least paperwork in the shortest time. Aadhar verification and video calls complete the process.
  • Velocity Checks – Monitoring a set of data elements which occur in a certain interval for a number of times. If there is a significant increase in the transactions on a card whose registered address is different, it is most likely a fraudulent transaction. What does Tyche do to ensure this does not happen? They have a set of data checks which notifies you, the merchant, that there might be suspicious activity in your system. The data points include an empirical combination of the below information
    • User ID
    • IP address
    • Email address
    • Phone number
    • Device ID/signature
    • Credit card number/payment method
    • Billing address
    • Shipping address
  • Time-Zone, Geo-location and BIN checks – This verifies if the transactions occur in the same place as given in the KYC documents
  • Device Fingerprint – Every device is unique. If a transaction occurs on a different device, our solution rings the alarm.
  • Behavioural Mapping – a check to verify if there are any unexpected detours in a device or payment method behaviour as compared to the past history
  • Machine Learning Systems – Big Data systems are used in reinforcing system actions based on past events.
  • Manual Review – If Tyche finds any suspicious activity but is unsure on how to proceed (as a false claim is a potential loss of a customer for you as a business), they will refer the transaction to you for validating it manually.
  • Web Crawling – for gathering suspicious data
  • Credit rating tool – to asses a customer’s potential future payment capability
  • E-Mail and Social network reputation management – to analyse if there are any negative feedbacks from genuine customers and if there are consistent negative reviews from the same user.
  • 11. Cross-Merchant Intelligence – Aggregation of data gained from other merchants regarding any malicious activity.


Does this mean Tyche Payment Solutions is a completely secure payment gateway? At this point, Yes. They have the best security features which are rigorously updated. As responsible citizens what we can do is to keep a clear head while making online transactions and not click on suspicious links – especially ones which insist that you are a lucky customer who has won a million-dollar lottery. If you have any doubts while making transactions, different page navigation after payment, money deducted but a transaction failed status, or even a gut feeling, call you the Tyche Support team immediately. They are well-trained people who do not ask redundant questions and waste your time. They listen to what you say and respond accordingly. The right person for the job is assigned who will then resolve any of your issues.

With a strong risk and fraud management system and a customer-centric support centre, Tyche Payment Solutions send us a strong message that our data security is not an issue which is treated callously. In a world where people are looking to make quick bucks without any respect for the individual, Tyche comes as a breath of fresh air who make us feel safe and protected in the digital world.

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