The Federal Reserve's FraudClassifier model provides an intuitive approach to classifying fraud, offering a holistic picture to help organizations better understand the magnitude of fraud involving payments. It was developed to help address the industrywide challenge of inconsistent classifications for fraud and can be used as a standalone classification structure or applied either before or after the ScamClassifier model is used more broadly to classify an incident as a scam.

Please take a few minutes to complete the Fed's survey by April 3 to share your awareness of and experience with the FraudClassifier model. Your feedback is essential to drive industrywide fraud classification!