Unusual Transactions
An unusual transaction on a bank statement refers to activity that deviates from normal account behavior. This may include unexpected charges, large withdrawals, overseas payments, or login attempts from unknown locations, often signaling potential fraud or unauthorised access.
AI detects an unusual transaction by analyzing real-time account activity against historical patterns using machine learning. Automated systems like Convin's account bot flag anomalies instantly and trigger alerts without human involvement, ensuring faster fraud response.
An account bot reduces fraud alert fatigue by filtering genuine threats from false positives. It delivers smart, real-time account alerts, credit alerts, and debit alerts only when action is truly needed, minimizing alert overload and boosting response efficiency.
A fraud alert notifies customers of suspected suspicious activity or an unusual transaction. An emergency alert, on the other hand, is triggered during critical security events like confirmed unauthorised access or system-wide threats requiring immediate action or account lockdown.