How automated decision recovers your scammed money
Criminals love to take advantage of globalisation and digitisation processes to cheat people and companies out of their money.
Criminals move stolen funds fast between financial institutions, and often across borders, making it incredibly hard for banks to catch & recall.
£1.2 billion was lost to scams in UK alone last year
To get money back, you need two things:
1
Communication between financial institutions to share knowledge.
2
Automation to stop money faster than human could as every second counts.
Until recently, there has been no efficient way of automatically recalling the funds. But now – please meet Salv Bridge.
Salv Bridge
We created an info exchange platform called Salv Bridge for banks and other financial institutions. Via Bridge, you can share info about shady transactions and customers.
And then, with a proper step to 21st century, we built a function capable of stopping the money automatically. In another bank. Step which multiplies the chances of getting the customer’s money back.
Bank A customer is scammed and the funds are moved to Bank B.
Bank A needs a very fast communication channel for notifying Bank B of the situation. Otherwise the funds will have moved on from Bank B to e.g. some obscure payment service provider and be lost forever. So Bank A sends the information via Salv Bridge which in turn blocks fraudster’s account in Bank B.
Don’t lose your hard-earned money
The biggest transaction recalled by Bridge’s automation so far is 10 000 euros. You can only imagine how happy the scammed person was to get their hard-earned money back.
If you wish to read more about how Salv Bridge can help banking to be safer and faster, visit the Salv Bridge page.
