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Rules

Rules are set of defined instructions you set which will be applied to transactions.

Consider you are managing a financial application that handles various transactions. You might set up rules to decide whether to approve, reject, or review transactions based on different criteria.

Actions​

Here are the typical actions that can be applied to your rule:

  • Approve transactions
  • Reject transactions
  • Move transactions to review

Typical Rules:​

Here are some examples of some rules:

  1. Transaction Amount

    • Scenario: You want to automatically review any transaction above 500,000 to ensure it's not fraudulent.
    • Rule: Review transactions where the amount is greater than 500,000.

  2. Payment Channel

    • Scenario: You want to reject transactions made through web channels for additional verification.
    • Rule: Reject transactions where the payment channel is "web."

  3. Device Type

    • Scenario: You have noticed a pattern of fraud coming from specific device types and want to monitor these more closely.
    • Rule: Review transactions where the device type is "iOS."

  4. Transaction Time

    • Scenario: High-risk transactions often occur late at night, and you want to review any transactions during these hours.
    • Rule: Review transactions where the transaction time is between 11:00 PM and 5:00 AM.

  5. Geographic Location

    • Scenario: Transactions from certain regions have higher fraud rates, so you want to rejectthose.
    • Rule: Reject transactions coming from "Lagos, Nigeria."

  6. Transaction Frequency

    • Scenario: Multiple high-value transactions within a short period might indicate fraud.
    • Rule: Review if there are more than 5 transactions above 100,000 within an hour.

  7. Account Status

    • Scenario: Accounts that were created recently might be used for fraudulent purposes.
    • Rule: Review transactions from accounts that were created within the last 30 days.

  8. Identity Verification

    • Scenario: Unverified accounts pose a higher risk.
    • Rule: Reject transactions from accounts where the identity is not verified.

....And lots more

tip

To create and view rules, go to your dashboard, click Transaction Monitoring -> Rules --> Add Rule.

Our rules can satisfy most use cases, you can also reach out to us for a custom rule.

HOW TO CREATE RULE​