Systems and methods for fault detection and protection in electric power systems that evaluates electromagnetic transients caused by faults. A fault can be detected using sampled data from a first monitored point in the power system. Detection of fault transients and associated characteristics, including transient direction, can also be extracted through evaluation of sample data from other monitored points in the power system. A monitoring device can evaluate whether to trip a switching device in response to the detection of the fault and based on confirmation of an indication of detection of fault transients at the other monitored points of the power system. The determination of whether to trip or activate the switching device can also be based on other factors, including the timing of receipt of an indication of the detection of the fault transients and/or an evaluation of the characteristics of the detected transients.