Architecture of Transaction Monitoring System of Central Banks
Maxim Repin, Oleg Mikhalsky, Ekaterina Pshehotskaya · 2017
The detection of fraud payments is one of the primary problems for cyber-security of payment services.Among all services, the exclusive ones are the payment systems of central banks regarding their critical role for financial systems, sheer volume and number of transactions and increased attention from perpetrators.One of the main mechanisms providing detection of fraud operations within interbank netting and settlement payments is a transaction monitoring system.These systems including their complexity and use-case specifics can be represented via probabilistic logic models, considered in this paper.The complete transaction monitoring system comprises several distinct algorithmic modules, which perform tiered checks for conducted payments.To increase adaptability to new types of fraud, the system architecture includes a module of model correction that allows one to detect new threat patterns and to adjust appropriate response while keeping false-positive alerts at low level.