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Audit trail and blockchain - why and how


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Presenting how a proper audit trail implementation should look like in the context of banking and insurance.

Published in: Technology
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Audit trail and blockchain - why and how

  1. 1. Audit trail and blockchain – why and how Bozhidar Bozhanov, CEO @ LogSentinel
  2. 2. Audit trail Business-level events Access, modification, authentication Securely stored and compliant Digital forensics Better Security and Compliance Source for anomaly detection
  3. 3. Why current audit trail is not secure? Admins can modify and delete it Entries can be back- dated No proof to third parties Can’t reliably be used in court
  4. 4. Key Security Problems Maintain Data Integrity Prove integrity to 3rd parties Prevent Malicious Tampering Legal Compliance Secure Logging and Audit Proof
  5. 5. How can blockchain help? Unmodifiable or tamper-evident Provable integrity Not relying on trust Digital evidence Better Security and Compliance Legal strength (eIDAS) Blockchain and related cryptographic methods
  6. 6. Our approach: LogSentinel Trails Tamper-evident private blockchain Anchored to Ethereum Fast and scalable Fraud Detection Capabilities Simple to integrate
  7. 7. Use case 1: Bulgarian e-Government Signed and time- stamped block LogSentinel API Queries from Administrations National and Regional Databases Access Log Central eGov Component
  8. 8. Use case 2: Raiffeisenbank Bulgaria (NDA) Logs from various sources Further strengthen audit trail Detect anomalous and fraudulent behaviour Prove authenticity and integrity to 3rd parties
  9. 9. Conclusion Many existing solutions give false sense of security Proper audit trail: cryptographically secure with provable integrity (blockchain) 1 2 Technologically ensure compliance with GDPR, PSD2 and data privacy standards3
  10. 10. Thank you • For more information visit: • Contact us at: