Risk & Fraud Monitoring
Risk Rules Engine
Fast growing fintech startups use LogicLoop to monitor abusive behavior on their platforms. LogicLoop empowers fraud & risk managers to quickly set up rules on top of company data to raise alerts for their team to review. Without LogicLoop, analysts are often stuck waiting for engineers to implement alerts directly in the codebase, inhibiting their ability to iterate quickly and experiment.
To get started with monitoring bad actors on your platform on LogicLoop, you'll first want to connect your company's data sources. This could be production databases like Postgres or MySQL, warehouses like Snowflake, Redshift or Big Query, or APIs like Socure or Sentilink. Once connected, you can use sample industry templates below as guidance to bootstrap your program. The following templates have been simplified and specific details have been omitted due to the sensitive nature of the content. Contact us at [email protected] to access our fully detailed suite of fraud & risk monitoring formulas.
Query your data to select transactions with large dollar amounts.
Query your database to flag users with excessive failed external fund transfers.
count(*) AS num_failed_transfers
JOIN merchant ON merchant.id = merchant_id
created_on > current_date - interval '30 days'
AND transfers.status = 'FAILED'
count(*) >= 3
For each user flagged, generate a Slack alert for your team to review.
Query your data to flag users who signed up recently with high total transaction volumes.
Select users who signed up recently without address information
Then, send each user an email reminding them to fill out their address.
For each user flagged, create a ticket for an analyst to review and follow up.
Alert on transactions conducted from high-risk geographies. If you have a pre-defined list of countries that are deemed high-risk, you can pull in this list of values by parameterizing it and populating it with a list derived from another query.
Alert if a user's outstanding balance exceeds the funds that are available in their account.
Send an account manager a Slack notification to reach out to the user to fund their account.