GDPR-Compliant Crossborder Fraud Prevention

In the global financial ecosystem, preventing fraud requires collaboration across institutions and borders. But the regulatory and privacy landscape—especially under the General Data Protection Regulation (GDPR)—makes it challenging to share and act on intelligence across jurisdictions. Using Blind Insight, teams can explore ways to enable cross-border data sharing for fraud detection while maintaining compliance and confidentiality.

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Sharing Risk Signals Without Exposing Sensitive Data

Blind Insight enables banks in different geographic regions to share intelligence about suspicious accounts to prevent fraud. For example, a U.S. bank might want to flag a suspicious account at a U.K. bank, helping others avoid sending funds to a likely fraudster. Conversely, a bank initiating a payment might want to check if the destination account has been reported elsewhere.

The core challenge isn't just technical—it's legal and organizational:

• Regulatory Restrictions: Banks are often barred from sending customer data across borders.
• Data Sovereignty Requirements: Some jurisdictions require sensitive data to be stored and processed locally.
• Varying Risk Appetites: Financial institutions differ in their comfort with data-sharing models.

Using Blind Insight, plaintext and decryption keys never need to leave the country or origin. Only encrypted data is ever exchanged, but stakeholders can still identify fraudulent accounts, without any plaintext data getting exposed in the process.

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