Seyfert FDS. Account abuse attempt tracking and withdrawal stop function… P2P Investor Protection

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Seyfert FDS. Account abuse attempt tracking and withdrawal stop function… P2P Investor Protection

Money laundering exploited by the virtual account function, Dummy in the Paygate fraud detection system


Paygate's Seyfert Platform's FDS (Fraud Detection System) system of Fintech's specialized company Paygate captured the money laundering exploitation of virtual accounts and the withdrawal of illegal sports gambling funds and prevented criminal activity for the 10th time in advance.

In early March, Mr. Kim tried to launder money for illegal gambling funds using a Seyfert virtual account. Mr. Kim was already registered as a case of damage in Dutch, and the victim's open chat room also had several fraudulent histories.

Seyfert FDS(Fraud Detection System)

Seyfert FDS recognizes Mr. Kim's attempt to withdraw gambling funds, and block withdrawal due to detection of the abnormal transaction in the first round, the second round is manual verification and the third round is Mr. Kim’s admission of attempting a crime for the arrangement and money laundering. In the 4th round, along with the authority report, activities related to the detection of fraudulent transactions and suspension of withdrawal, such as a separate account separation procedure for the funds, were completed within an hour.

Paygate is a financial company that is obligated to comply with AML (Anti-Money Laundering) under the Special Money Act and is obliged to further review and report whether suspicious transactions are subject to reporting. All transactions classified as abnormal transactions are blocked or withdrawn after review by the compliance team. In addition, a number of criminal funds and customer deposits, such as △ Yanbian friends (Yeonbyeon chingu), △ Ordinary transactions, △ Secondhand country (Joonggo Nara), and △ scams using lightning marketplace (Beongaejangteo), are being kept separately in separate accounts.

In 2020, ahead of the implementation of P2P finance (online investment-linked finance business) law, the importance of the Seyfert system's fraud detection activity is expected to increase to protect investors and promote market soundness.

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