In TOOLBX’s comprehensive risk management strategy, case management stands as the third and crucial layer of defense. This process involves a meticulous manual review of transactions identified as potentially risky, providing an additional safeguard against fraud.
When does a transaction go to manual case review?
Transactions are flagged for manual review under specific circumstances. Primarily, this occurs when a transaction achieves a risk score of 65 or higher. This threshold indicates a level of risk that warrants closer examination beyond automated analysis.
The process of manual review
Once a transaction is directed to case management, TOOLBX’s expert team undertakes a detailed review. This process includes:
Transaction analysis: Each flagged transaction is scrutinized, considering various aspects such as transaction history, customer behavior, and any anomalies that raised the risk score.
Collaboration with dealers: A key aspect of this process is the collaboration between TOOLBX and the dealer. Our team works closely with the dealer to provide insights into the transaction's risk factors and to jointly decide on the best course of action. This collaborative approach ensures that decisions are made with a comprehensive understanding of both the risk and the potential impact on the dealer's business.