Fraud Prevention SOPs

1. Purpose

These SOPs ensure consistent, accurate, and secure fraud detection and prevention across all WefRefund operations.

2. Fraud Prevention Responsibilities

WefRefund staff must:

• Monitor suspicious activity

• Flag unusual transactions

• Verify user identity when necessary

• Maintain confidentiality of user data

• Report all escalated fraud cases

3. Red Flags for Fraud

Staff must investigate when they detect:

• Multiple refund requests from the same user in short periods

• Conflicting or edited documents

• IP location mismatch with user profile

• Payments made to unknown third parties

• Accounts refusing to comply with KYC

• Evidence inconsistent with case details

4. Fraud Case Handling Procedure

Step 1 – Initial Assessment

• Verify user identity

• Check account history

• Review uploaded evidence

Step 2 – Verification

• Request additional documents (ID, address proof, etc.)

• Contact sellers/shippers for confirmation

• Analyze transaction logs

Step 3 – Escalation

If fraud is suspected:

• Escalate to the Fraud Investigation Team

• Freeze related transactions

• Suspend account temporarily (if necessary)

Step 4 – Resolution

• Confirm fraud → Deny refund + terminate account

• No fraud → Proceed with refund approval

5. Data Handling

All staff must follow:

• GDPR-inspired privacy protections

• Secure data storage protocols

• Non-disclosure requirements

• Access control restrictions

6. Reporting

All confirmed fraud cases are logged in:

• The Internal Fraud Register

• Compliance Department Review Logs

7. Staff Training

All fraud prevention personnel must complete:

• Annual compliance training

• Document verification training

• Anti-money laundering (AML) certification