Vodafone Fiji Report November 2024 | Page 12

VODAFONE FIJI
financial crime tactics ,” Deepak adds . “ We raise awareness and promote safe financial practices . For example , keeping customers ’ PINs secure , making sure their phones are password protected , things like that .
“ We are empowering our customers to protect themselves against potential scams and fraudulent schemes . This helps us build confidence in our product for people to feel confident their funds are secure with us .”
Hawk : The importance of financial crime detection In order for customers to most effectively protect their financial assets , Vodafone Fiji is eager to advocate for the importance of mobile education . When it comes to fraud , it is vital that customers are aware of the signs and are able to report activity as it is happening so it can be mitigated .
“ It ’ s really important to create that awareness . We do it through social media sites like Facebook and TikTok to create that engagement ,” Deepak says .
In order to strengthen its financial crime prevention offering , Vodafone Fiji has partnered closely with Hawk , a technology company that helps banks , payment companies and fintechs fight financial crime with AI , machine learning and fraud prevention .
Hawk ’ s technology increases the effectiveness of financial crime detection by helping financial institutions improve their risk coverage and find more crime , while also improving efficiency . It does this by dramatically reducing false positive alerts by applying fully
transparent and auditable machine learning to high volumes of transactions .
Deepak explains : “ One of our key strategies was to strengthen the financial crime prevention capabilities , which is also one of the key requirements of the Reserve Bank of Fiji . We need to ensure that we have controls in place to detect fraud in realtime , so that we can proactively stop transactions from happening in the first place .”
With Hawk , Vodafone Fiji has deployed its state-of-the-art anti-money laundering and counterterrorist financing technology within M-PAiSA . This enables greater range of functionality for the organisation , whereby it can complete payment screening using the Hawk platform .
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