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Thank you for signing up to access educational resources and support tools for the FraudClassifierSM model. The model can be used to classify fraud independently of payment type, payment channel or other payment characteristics.

Click the button below to download the full model with supporting definitions – and refer to the FraudClassifier model webpage for more information, including FAQs and a video overview.

Click the button below to download our Microsoft Excel-based fraud classification tool, which incorporates the FraudClassifier model and can be used within your organization to classify fraud.

Click the button below to explore an interactive version of the FraudClassifier model and its different classification paths.

The model and tools above guide you through three questions to help classify the fraud:

  1. Who initiated the payment? This question focuses on whether the payment was initiated by an authorized or an unauthorized party or, in other words, if the initiator had the right to do so.
  2. How was the fraud executed? Based on your answer to the first question, this step focuses on the how the fraud was conducted, with consideration given to the multiple parties that may have been involved. For example, an authorized party may have been manipulated by a fraudster – or could have intentionally acted fraudulently. Alternatively, an unauthorized party may have taken over an account or obtained key payment information that allowed the party to initiate a payment.
  3. How was the specific type of fraud carried out? Based on your answer to the second question, this step focuses on the specific tactic(s) and approach(s) used to carry out the fraud – for example, how the fraudster took over an account or manipulated an authorized party.

To understand the intent of each question and classification option, please refer to the supporting definitions. Dependent on how much information you have at the time of the initial fraud classification, you may answer and proceed through one, two or all three questions.

For comments and additional questions about the model, please fill out this general inquiries form.

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“FraudClassifier” is a service mark of the Federal Reserve Banks. A list of marks related to financial services products that are offered to financial institutions by the Federal Reserve Banks is available at FRBservices.org.

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