Fraud Investigator/Analyst

The NETS Group is a leading payments services group, enabling digital payments for merchants, consumers and banks across the entire payments value chain. 
 

The Group operates Singapore’s national debit scheme enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to make payments using their ATM cards or mobile devices at more than 130,000 acceptance points in the country as well as online payments.

Position Summary

As a Fraud Investigator/Analyst in the 1 Line of Defence (LOD), you will be responsible for monitoring and managing fraud risks related to NETS products and ensuring effective fraud mitigation practices. You will also review escalations from Sales & Channel, Merchant Business, Consumer Business and Customer Service and Operations to provide timely level 1 assistance on potential fraudulent transactions before escalation to 2LOD for further investigation. Additionally, you will ensure compliance with international scheme requirements from business and operational perspective.

Key Responsibilities

1. Fraud Monitoring, Detection and Investigation:
   • Operate business product systems/platforms (e.g. DA Online) to detect abnormal merchant behaviour, transaction patterns, or terminal misuse.
   • Develop fraud controls for new product/channels to ensure that they are robust and safeguard NETS from fraud risk.
   • Review escalated fraud cases from Customer Service & Operations, Banks/SPF/Schemes/Partners or Sales.
   • Conduct level 1 review of suspicious fraudulent cases and prepare internal escalation to the 2LOD for filing of STR or Form 1 reporting per PSN03 requirements.
2. Scheme Compliance Review: Regularly review fraud management processes to ensure alignment with international payment scheme standards.
3. Business Procedures/Processes: Develop and maintain relevant business procedures, workflows covering business fraud detection, handling, merchant communication, and reporting.
4. Training & Awareness: Conduct training for Sales & Channel, Merchant Business, Consumer Business and Customer Service and Operations on fraud flags, scheme rules, and internal escalation processes. 

Requirements

Education and Experience

• Bachelor’s degree in business, Finance, Risk Management or a related field
• At least 3-4 years of experience in fraud prevention, risk management, or a related role, particularly in the payments or financial services industry
• Experience with fraud detection systems, payment gateways, and transaction monitoring tools

Skills and Knowledge

• Strong understanding of merchant fraud risks and typologies
• Familiarity with payment systems
• Knowledge of fraud detection tools and systems
• Familiarity with international scheme standards and compliance

Key Competencies

• Attention to Detail:
  • High attention to detail in identifying fraud signals, anomalies, and vulnerabilities in merchant transactions and refund activities
• Communication:
  • Strong communication skills to collaborate with merchants, internal teams, and regulatory bodies
• Problem-Solving:
  • Ability to develop adequate control measures to mitigate fraud risks
• Collaboration:
  • Ability to work with cross-functional teams, stakeholders and merchant partners to reduce fraud risks

Network for Electronic Transfers (Singapore) Pte Ltd.