Fraud Specialist

About Abound

We’re on a mission to make affordable loans available to more people. Using the power of Open Banking, we have built state-of-the-art technology that allows us to look beyond traditional credit scores and offer fairer credit to people ignored by traditional lenders.

We have two parts of our business. On the consumer side, we have Abound. Abound has proven that our approach works at scale, with over £800 million lent to-date. While other lenders only look at your credit score, we use Open Banking to look at the full picture – what you earn, how you spend, and what’s left at the end.

On the B2B side, we have Render. Render is our award-winning software-as-a-service platform that allows Abound to make better, less risky lending decisions. And less risky decisions mean we can offer customers better rates than they can usually find elsewhere. We’re taking Render global so that more companies, from high-street banks to other fintechs, can offer affordable credit to their customers.

About the role

As a Fraud Specialist, you’ll be responsible for identifying, investigating, and mitigating fraud across our customer base and payment channels. You’ll manage fraud alerts, analyse suspicious loan applications, payment activity, and work directly with customers and internal teams to resolve cases efficiently and empathetically.

You’ll also play an active role in improving our fraud detection systems, contributing insights to enhance controls and customer experience.

What you'll be doing

Fraud Detection & Investigation

• Work closely with the Data Science team to support the ongoing development of our lending decision engine

• Monitor real-time transaction alerts and fraud detection queues to identify potential fraudulent activity.

• Investigate suspicious cases involving account takeover, APP scams, mule activity, or identity theft.

• Analyse customer behaviour and transaction data to distinguish genuine use from fraudulent behaviour.

• Make risk-based decisions on accounts and transactions, escalating complex cases as needed.

• Support recovery and reimbursement efforts in accordance with APP Fraud Reimbursement and FCA guidance.

Operational Excellence

• Maintain clear, accurate case notes and records of investigations for audit and regulatory reporting.

• Liaise with customers professionally during fraud verification or investigation calls.

• Collaborate with Payments, Compliance, and Customer Operations teams to resolve fraud-related issues.

• Support reporting to Action Fraud, CIFAS, and other industry partners where applicable.

Data & System Improvement

• Identify trends, emerging fraud typologies, and weaknesses in current controls.

• Provide feedback to improve fraud rules, machine learning models, and automated alerts.

• Partner with Product and Engineering teams to enhance fraud tooling and data visibility.

Compliance & Governance

• Work within the framework of UK regulations, including FCA, PSD2, and AML/CTF obligations.

• Ensure adherence to internal financial crime policies and industry best practice.

• Contribute to management information (MI) reports and fraud risk assessments.

Who you are

• 2–4 years’ experience in fraud prevention, investigation, or financial crime operations within fintech, payments, or banking.

• Understanding of UK payment systems (Faster Payments, CPA, Open Banking) and associated fraud risks.

• Knowledge of fraud types affecting fintechs — including APP scams, identity theft, synthetic identity, and mule activity.

• Familiarity with FCA and PSR regulations, including

• Strong analytical and investigative skills, with a data-driven mindset.

• Excellent communication and problem-solving skills, with empathy for affected customers.

• Comfortable in a fast-paced, high-growth environment with evolving processes.

Ideally you'll also have

• Knowledge of SQL, data analytics tools, or BI platforms for trend analysis.

• Exposure to chargebacks and card scheme disputes.

• Relevant certifications (e.g., ICA, ACAMS, ACFCS) or willingness to pursue them.

• Familiarity with APP Reimbursement Model and PSD2 Strong Customer Authentication.

What we offer

• Everyone owns a piece of the company - equity

• Hybrid with 3 days a week in the office

• 25 days’ holiday a year, plus 8 bank holidays

• 2 paid volunteering days per year

• One month paid sabbatical after 4 years

• Employee loan

• Free gym membership

• Team wellness budget to be active together - set up a yoga class, a tennis lesson or go bouldering