Unit21 Introduction

Unit21 is a software platform used by companies to detect and prevent financial crimes such as fraud and money laundering.
It analyzes transactions (payments, transfers, logins, and other activities) in real time or in batches and helps businesses
find suspicious behavior automatically instead of checking everything manually.

In simple terms, Unit21 acts like a smart security guard for financial systems. It watches activities, looks for unusual behavior,
and alerts the company when something does not look right.

Payment Fraud Detection

Payment fraud detection means identifying fake or risky transactions before they cause money loss.
Unit21 checks every transaction and compares it with past behavior patterns to decide if it looks normal or suspicious.

Example:

You usually spend about ₹500–₹1,000 per day using your card in your city. One day, a transaction of ₹50,000 appears from another country. Unit21 will notice this difference and create an alert because this behavior does not match your normal spending pattern.

AML Transaction Monitoring

AML stands for Anti-Money Laundering. This feature helps companies detect money movements that could be linked to illegal activities like terrorism funding, drug money, or other crimes.

Example:

A person makes many small deposits every day into one account and then transfers all the money to another country.
This pattern may be used to hide the source of money. Unit21 can detect this pattern and warn the company to review the account.

Fraud Consortium

A fraud consortium is a shared network where many companies help each other fight fraud by sharing anonymous fraud patterns.
If one company experiences a new type of fraud, others in the network can learn from it too.

Simple example:

If one bank identifies a new scam involving fake shopping websites, other banks using the consortium can also recognize
the same pattern quickly and stop similar fraud attempts for their customers.

Device Intelligence

Device intelligence checks information about the device used for transactions, such as mobile phones, laptops, or browsers.
It looks for unusual behavior like many accounts using the same device or frequent location changes.

Example:

If one mobile phone is used to create 10 accounts in a short time, Unit21 can recognize this as suspicious.
It may block the activity or send an alert to prevent possible fraud.

Why Unit21 is Useful

• Detects fraud quickly and accurately
• Reduces manual work by automating checks
• Protects customers and businesses from financial loss
• Helps companies follow legal and safety rules