For the better part of my product marketing career, I’ve had the pleasure of launching and supporting a variety of purpose-built products and solutions serving many unique markets. These solutions range from data center equipment to 3D CAD software, both on prem and as a service, and everything in between. But very rarely do I come across a tool as effective and impactful as BioCatch Scout. We launched BioCatch Scout in September of 2023 with the sole purpose of illuminating the connections of every suspected mule account within a bank’s network. Since then, we continue to work directly with our customers, incorporating feedback, enhancing features, and delivering additional solution support such as fraud feedback from Account Takeover (ATO) models. These innovations have turned Scout into a powerful financial crime investigation tool capable of detecting scams, fraud, and money laundering networks before – and this is the crucial piece of this – customers’ financial assets are lost, bringing us one step closer to bridging the gap between enterprise fraud management (EFM) and anti-money laundering (AML) teams.
What is BioCatch Scout?
BioCatch Scout is an investigation tool that leverages link analysis and graphing technology to display networks of accounts, devices, and payees connected to scam, fraud, and money laundering rings. The tool is designed to help Fraud and AML investigators visualize criminal networks and prioritize investigative activities. It also helps uncover unknown accounts, devices, or users connected to high-risk criminal networks that may require further monitoring. BioCatch Scout works by consuming and analyzing the output of high-risk alerts generated by BioCatch solutions and graphically displaying a galaxy of connected clusters. Investigators can drill down and isolate specific nodes and clusters for further examination. They can also do a reverse search and input a specific unique identifier to see if it is affiliated with any high-risk networks.
Award recognition
In 2024, Scout was awarded the Datos Insights silver medal for best financial crime investigation and reporting tool. The Datos Insights take from their Going Beyond Traditional Safeguards report states:
“BioCatch Scout’s approach to combining behavioral analytics, transaction analytics, and device intelligence offers a comprehensive and innovative method for proactively identifying and investigating potential fraud networks … By providing a shared platform and visualization tools, BioCatch Scout has the potential to enhance collaboration and improve overall fraud detection efficiency.”
But we didn’t stop there.
Fast forward to 2025 and I’m thrilled to announce BioCatch Scout won GASA’s (Global Anti-Scam Alliance) Scam Fighter Awards Tool of the Year!
“BioCatch Scout was recognized by two jury members for its potential to make a systemic impact,” GASA Community Manager Maria Borgese said. “Its ability to empower financial institutions to address scams at the source, particularly in money laundering networks, stood out.”
Customer success
While it is truly an honor to receive award recognition, the real reward is hearing the results our customers are experiencing. One customer stated that by using Scout, they were able to shut down new accounts opened with the purpose of committing payment fraud involving stolen identities, specifically targeting P2P payments and ACH fraud.
“Scout has also been influential in detecting and getting ahead of losses associated with Imposter Scam activity,” an account protection team supervisor deploying the solution said. “By reviewing shared connections, we’re able to have minimal losses, greater preventions, and halt the fraud rings before the bleeding starts.”
So, what’s next?
BioCatch Scout will continue to be developed and updated to address additional fraud use cases and feedback from both enterprise banking customers and other financial institutions. Whether you’re an analyst that starts your day filtering the Scout galaxy or investigating connections from high priority accounts, we’ll continue to offer innovative features and improvements as the tool evolves. We’ll continue to help banks and financial institutions protect their customers, prioritize investigations, and proactively prevent financial crime, as a part of our fight to make banking safer every day.
