Digital fraud down 25%.
Trust in the platform, restored.

High-value trades, high-value targets.

The firm’s exposure sat squarely in its highest-value desks: multi-asset derivatives, FX, and swaps, where large transactions and complex counterparty arrangements draw both fraudsters and regulators. Its client base of institutional and high-net-worth investors expected tight security without added friction.

Three problems compounded each other. Regulatory compliance across multiple jurisdictions demanded auditable, secure customer due diligence without adding operational drag. Identity verification needed to plug directly into trading permissions and settlement workflows, not sit alongside them. And fraud detection had to catch spoofing, account takeover, and insider abuse in real time, across product lines generating high volumes of fast, cross-venue activity.

Three constraints were non-negotiable:

• Strict regulatory compliance across jurisdictions
• Identity verification tied to trading and settlement systems
• Real-time detection across high-volume, cross-venue activity

Identity and fraud detection, built into the trade itself.

We advised the firm to fold identity verification directly into account provisioning and trading authorisation, rather than treating it as a separate check. Document verification, biometric liveness, and device fingerprinting now run at onboarding, creating an auditable link between a person’s identity and the credentials they trade with.

Machine learning models trained on historical trade data, and enriched with external threat intelligence, watch order book behaviour, transaction velocity, counterparty patterns, and cross-asset correlations for signs of spoofing, account takeover, wash-like activity, or misuse of privileged access. A real-time scoring engine assigns risk to every session, order, and settlement, triggering a graduated response: step-up authentication, an automated trade hold, or a compliance alert, depending on the score.

Routine verification and fraud triage were automated, with auto-escalation rules and automated evidence collection feeding straight into the firm’s case management tools. Comprehensive logging and immutable audit trails were built in throughout, aligned to KYC and AML obligations across jurisdictions, all running on cloud-native infrastructure integrated with the firm’s trading and order management systems.

A quarter less fraud, and cleaner audits to prove it.

The programme did more than cut fraud. It gave the firm real-time visibility into its highest-risk trading desks, tightened its compliance posture across jurisdictions, and gave institutional and high-net-worth clients more reason to trust the platform with their business.