Argentinian Banks Collaborate in Real-Time Intelligence Network to Thwart Financial Fraud

A coalition of Argentinian banks and fintech firms, including major names like Banco Galicia, Santander Argentina, and Naranja X, has joined forces in a new real-time intelligence-sharing initiative aimed at fighting financial scams and fraud with unprecedented precision. The network, launched under the name BioCatch Trust Argentina, is powered by the behavioural biometrics company BioCatch and introduces a proactive approach to fraud detection that identifies suspicious behaviour before a transaction is completed.

The system operates by analyzing behavioural and device-related data to determine the legitimacy of financial transfers. It collects insights such as keystroke dynamics, touchscreen gestures, mouse movements, and broader digital session data to assess whether the account receiving funds is exhibiting characteristics associated with fraudulent activity. When anomalies are detected that align with known scam techniques, the sending bank is notified in real time—allowing the institution to halt the transaction before the money is debited from the customer’s account.

A major target of the initiative is the proliferation of mule accounts. These accounts are often used by criminals to funnel illicit funds through the banking system, and are typically embedded within legitimate institutions to mask their true purpose. According to BioCatch, the key to effectively disrupting these mule networks lies in the proactive exchange of intelligence between institutions before transactions occur. The system’s design is predicated on stopping fraud at the point of origin, rather than responding reactively after damage has been done.

Data shared through the platform is pseudonymised, ensuring user privacy is maintained while enabling institutions to recognize behavioural red flags that transcend individual banks. The intelligence gathered extends beyond transactional activity, encompassing device usage, account behaviour, and non-transactional events that often precede scams. This comprehensive approach is especially geared toward fraud that originates outside the banking ecosystem—such as phishing campaigns or social engineering schemes propagated through social media.

Participating banks have welcomed the initiative as a strategic addition to their existing security frameworks. Representatives from Banco Galicia emphasized that “the ability to vet recipient accounts prior to payment enhances their internal fraud detection capabilities,” noting that pre-transaction insights offer a crucial advantage. Naranja X echoed this sentiment, with officials stating the system “provides a new layer of context for ongoing fraud prevention efforts” and expressing optimism that broader participation from the industry will fortify the platform’s effectiveness. Santander Argentina underscored the importance of early detection, calling the technology “a way to detect threats earlier and reduce disruption to legitimate transactions.”

The BioCatch Trust Argentina platform marks a significant shift in how financial institutions in the country collaborate against fraud. By sharing behavioural intelligence in real time and intercepting suspicious activity before funds are transferred, the network not only aims to neutralize scam threats more efficiently but also to protect customers from the growing sophistication of digital fraud.

By fLEXI tEAM