Financial institutions such as banks, payment processors, and online merchants face significant challenges in detecting and preventing fraud and financial crimes. Entity resolution and graph algorithms can be combined to support fraud detection use cases such as Card Not Present (CNP) fraud detection. A CNP transaction occurs when a credit or debit card payment is processed without the physical card being presented to the merchant, typically during online, telephone, or mail-order purchases. These transactions carry higher fraud risks because merchants can’t physically verify the card or the cardholder’s identity, making them particularly vulnerable to fraudulent usage.
Entity resolution services such as AWS Entity Resolution identify links between entities using shared attributes. Amazon Neptune Analytics, a memory-optimized graph database engine for analytics, enhances CNP fraud detection by enabling graph analysis of complex relationships between customers, transactions, and…
