Most fraud is not clever. It is repetitive.
The same merchant appears on a disproportionate share of disputed transactions. Accounts with short tenure have higher fraud frequency. These are patterns. They are measurable. They are detectable before damage occurs.
The fraud detection work at Afripay (92% detection accuracy across 2M+ annual transactions) was not built on extraordinary algorithms. It was built on asking the right questions of historical data.
The data already knows. It just needs someone to ask it the right questions.
— Dick Bassey | DevDick | 2017