EastNets offers a sophisticated suite of filtering products that, taken together, give financial institutions what they need to combat fraud and money laundering. The approach is international and focused on card, real-time and internal fraud. For security reasons, the system resides at the financial institution rather than in the cloud. However, EastNets has a service bureau to support a number of functions for its customers.

The en.SafeWatch product is a web application that consists of three modules: internal, real-time and card fraud. The internal fraud functions are processed in batch mode and are focused on the financial institution's employees, while the other two are in real time and are online. The payment card application is a rule-based real-time process. It monitors accounts, cards, transactions, merchants and customers. 

The real-time application looks at all other online transactions that are not card transactions. Like the card application, decisions can be automatic or referred to an analyst for further investigation. It has the ability to geolocate transactions and to compare the source IP against a country blacklist.

Finally, the internal anti-fraud application covers fraudulent transactions between employees and between employees and outside entities. While the EastNets products stay current on fraud types and regulatory requirements and laws globally, the company does not enforce behavior on the part of the financial institution. The rationale behind this is that it is the institution's responsibility to enforce regulatory requirements. However, the institution has all of the current information needed to make appropriate decisions.

At a glance

Product en.SafeWatch Anti-Fraud

Price Starts at $100,000 for the first year, which includes license, professional services and annual maintenance.

What it does Anti-money laundering, fraud prevention and payment services.

What we liked Extremely comprehensive suite of solutions to a variety of fraud challenges with a decidedly international awareness.