Join Star One Credit Union, a financial institution with more than $9B in assets, as they discuss how they leverage their Guardian Analytics financial crime prevention platform to detect anomalies and suspicious activity in their online, mobile, and payments channels.
In these slides, Margarete Mucker, EVP of Operations from Star One Credit Union, shares what her organization is doing to protect their members from fraud.
Although the recent Equifax breach that reportedly compromised 143 million accounts has sent consumers scrambling to protect their assets, financial institutions and corporations are likely to feel the impending effects of this attack as well.
It is predicted there will be a surge in social engineering and BEC scams, as the hackers now have a wealth of information needed to impersonate individuals and corporate entities in a variety of contexts. However, the right strategic approach and technology solutions can effectively mitigate the fraud risk.
In this webinar, guest speaker Andras Cser, VP, Principal Analyst in Security & Risk from Forrester Research, will provide an expert industry perspective and discuss what financial institutions and corporations can do to protect themselves. You will gain insight into how organizations are raising their defenses, understand the best practices to minimize fraud loss, and learn how advanced analytics solutions can help minimize the risk.
Preventing Fraud with a Multi-Channel ApproachLaurent Pacalin
This document discusses fraud prevention using a multi-channel approach. It describes how Guardian Analytics uses machine learning to analyze user behaviors and flag anomalous activities to prevent fraud. The document includes case studies showing how Guardian Analytics helped Star One Credit Union prevent fraud, including a case where $98k was prevented from being stolen and other cases where fraudulent transactions were blocked. Star One reports that working with Guardian Analytics has brought online fraud losses to near zero while keeping false positive and customer impact low.
Preventing ATO in a post Equifax breach worldLaurent Pacalin
The document provides an overview of a presentation on preventing account takeover (ATO) in a post-Equifax breach world. It discusses how fraudsters are adapting their techniques, the increasing costs of online and mobile fraud, and recommendations for financial institutions to combat fraud using machine learning, behavioral analytics, and integrating diverse data sources. Specific examples are provided of how behavioral analytics can detect account takeover schemes by identifying deviations from normal user behaviors.
The Case for a Turnkey Approach to Fraud OperationsLaurent Pacalin
The document discusses the benefits of a turnkey approach to fraud operations managed by Guardian Analytics. It outlines their managed services model which includes leveraging people, infrastructure, processes, and technology. Case studies demonstrate how their services have helped clients reduce fraudulent transactions by 90%, lower callbacks by 80%, and realize quicker time to value. The presentation emphasizes the importance of infrastructure, advanced technology, holistic processes, and knowledgeable people in delivering an efficient and effective fraud management program.
Only real-time fraud detection solutions can prevent Peer-to-Peer fraud. Aite Group and Guardian Analytics show you what to be concerned about and how to detect in real-time evolving attacks from fraudsters.
The document discusses Guardian Analytics, a company that provides a real-time digital banking fraud detection solution using behavioral machine learning. The solution detects fraud early by analyzing non-transactional user activities and assigning risk scores. This enables friction-right authentication that adds appropriate security based on risk without compromising user experience. The solution also allows fraud analysts to efficiently investigate cases and gain insights from an open fraud and anti-money laundering platform.
Cyber attacks pose a serious risk for small to medium sized businesses as they are lucrative targets for hackers. While many believe cyber insurance is too expensive or unnecessary, the costs of a data breach can be devastating and easily exceed the relatively low premiums of a cyber insurance policy. The document provides an overview of common cyber attacks, costs of a breach, specifics of cyber insurance policies, and steps for creating a breach response plan to mitigate risks and reduce costs.
Ways to Beat Vendor and Procurement Fraudsters Using Data AnalysisFraudBusters
Webinar series from FraudResourceNet LLC on Preventing and Detecting Fraud Using Data Analytics. Recordings of these Webinars are available for purchase from our Website fraudresourcenet.com
This Webinar focused on fraud detection using data analytic software (Excel, ACL, IDEA)
FraudResourceNet (FRN) is the only searchable portal of practical, expert fraud prevention, detection and audit information on the Web.
FRN combines the high quality, authoritative anti-fraud and audit content from the leading providers, AuditNet ® LLC and White-Collar Crime 101 LLC/FraudAware.
The two entities designed FRN as the “go-to”, easy-to-use source of “how-to” fraud prevention, detection, audit and investigation templates, guidelines, policies, training programs (recorded no CPE and live with CPE) and articles from leading subject matter experts.
FRN is a continuously expanding and improving resource, offering auditors, fraud examiners, controllers, investigators and accountants a content-rich source of cutting-edge anti-fraud tools and techniques they will want to refer to again and again.
Although the recent Equifax breach that reportedly compromised 143 million accounts has sent consumers scrambling to protect their assets, financial institutions and corporations are likely to feel the impending effects of this attack as well.
It is predicted there will be a surge in social engineering and BEC scams, as the hackers now have a wealth of information needed to impersonate individuals and corporate entities in a variety of contexts. However, the right strategic approach and technology solutions can effectively mitigate the fraud risk.
In this webinar, guest speaker Andras Cser, VP, Principal Analyst in Security & Risk from Forrester Research, will provide an expert industry perspective and discuss what financial institutions and corporations can do to protect themselves. You will gain insight into how organizations are raising their defenses, understand the best practices to minimize fraud loss, and learn how advanced analytics solutions can help minimize the risk.
Preventing Fraud with a Multi-Channel ApproachLaurent Pacalin
This document discusses fraud prevention using a multi-channel approach. It describes how Guardian Analytics uses machine learning to analyze user behaviors and flag anomalous activities to prevent fraud. The document includes case studies showing how Guardian Analytics helped Star One Credit Union prevent fraud, including a case where $98k was prevented from being stolen and other cases where fraudulent transactions were blocked. Star One reports that working with Guardian Analytics has brought online fraud losses to near zero while keeping false positive and customer impact low.
Preventing ATO in a post Equifax breach worldLaurent Pacalin
The document provides an overview of a presentation on preventing account takeover (ATO) in a post-Equifax breach world. It discusses how fraudsters are adapting their techniques, the increasing costs of online and mobile fraud, and recommendations for financial institutions to combat fraud using machine learning, behavioral analytics, and integrating diverse data sources. Specific examples are provided of how behavioral analytics can detect account takeover schemes by identifying deviations from normal user behaviors.
The Case for a Turnkey Approach to Fraud OperationsLaurent Pacalin
The document discusses the benefits of a turnkey approach to fraud operations managed by Guardian Analytics. It outlines their managed services model which includes leveraging people, infrastructure, processes, and technology. Case studies demonstrate how their services have helped clients reduce fraudulent transactions by 90%, lower callbacks by 80%, and realize quicker time to value. The presentation emphasizes the importance of infrastructure, advanced technology, holistic processes, and knowledgeable people in delivering an efficient and effective fraud management program.
Only real-time fraud detection solutions can prevent Peer-to-Peer fraud. Aite Group and Guardian Analytics show you what to be concerned about and how to detect in real-time evolving attacks from fraudsters.
The document discusses Guardian Analytics, a company that provides a real-time digital banking fraud detection solution using behavioral machine learning. The solution detects fraud early by analyzing non-transactional user activities and assigning risk scores. This enables friction-right authentication that adds appropriate security based on risk without compromising user experience. The solution also allows fraud analysts to efficiently investigate cases and gain insights from an open fraud and anti-money laundering platform.
Cyber attacks pose a serious risk for small to medium sized businesses as they are lucrative targets for hackers. While many believe cyber insurance is too expensive or unnecessary, the costs of a data breach can be devastating and easily exceed the relatively low premiums of a cyber insurance policy. The document provides an overview of common cyber attacks, costs of a breach, specifics of cyber insurance policies, and steps for creating a breach response plan to mitigate risks and reduce costs.
Ways to Beat Vendor and Procurement Fraudsters Using Data AnalysisFraudBusters
Webinar series from FraudResourceNet LLC on Preventing and Detecting Fraud Using Data Analytics. Recordings of these Webinars are available for purchase from our Website fraudresourcenet.com
This Webinar focused on fraud detection using data analytic software (Excel, ACL, IDEA)
FraudResourceNet (FRN) is the only searchable portal of practical, expert fraud prevention, detection and audit information on the Web.
FRN combines the high quality, authoritative anti-fraud and audit content from the leading providers, AuditNet ® LLC and White-Collar Crime 101 LLC/FraudAware.
The two entities designed FRN as the “go-to”, easy-to-use source of “how-to” fraud prevention, detection, audit and investigation templates, guidelines, policies, training programs (recorded no CPE and live with CPE) and articles from leading subject matter experts.
FRN is a continuously expanding and improving resource, offering auditors, fraud examiners, controllers, investigators and accountants a content-rich source of cutting-edge anti-fraud tools and techniques they will want to refer to again and again.
LexisNexis Bridger Insight is a software that allows users to screen customers, clients, or third parties in real-time or in bulk against watch lists to ensure compliance with sanctions and regulations. It uses advanced matching algorithms to find potential name matches while minimizing false positives. The software integrates easily, is cost-effective, and automatically adapts to regulatory changes.
Recognizing and Preventing Fixed Asset and Inventory Fraud using Data AnalysisFraudBusters
Webinar series from FraudResourceNet LLC on Preventing and Detecting Fraud Using Data Analytics. Recordings of these Webinars are available for purchase from our Website fraudresourcenet.com
This Webinar focused on fraud detection using data analytic software (Excel, ACL, IDEA)
FraudResourceNet (FRN) is the only searchable portal of practical, expert fraud prevention, detection and audit information on the Web.
FRN combines the high quality, authoritative anti-fraud and audit content from the leading providers, AuditNet ® LLC and White-Collar Crime 101 LLC/FraudAware.
The two entities designed FRN as the “go-to”, easy-to-use source of “how-to” fraud prevention, detection, audit and investigation templates, guidelines, policies, training programs (recorded no CPE and live with CPE) and articles from leading subject matter experts.
FRN is a continuously expanding and improving resource, offering auditors, fraud examiners, controllers, investigators and accountants a content-rich source of cutting-edge anti-fraud tools and techniques they will want to refer to again and again.
This presentation, Ransomware Rising, details the results of a survey of security professionals taken at RSA 2017, the world’s largest security conference, exploring their experiences with ransomware.
Conducted Feb. 13-17, at RSA 2017, the in-person survey is based on responses from 170 attendees including IT professionals, managers and executives from the U.S. (77 percent), EMEA (13 percent) and other regions (11 percent).
To learn more about preventing ransomware visit, http://bit.ly/2nwKICL
The Power of a Black List, the Promise of a White Listderektop
Financial services companies are finding out that they can reduce fraud loss by quickly detecting imposters. But that is just the start of the story. Learn how the combination of multiple factors can lead to lower financial losses. -- Mark Lazar, CEO, Victrio, Inc.
This survey of over 100 Hong Kong fintech companies in 2017-2018 found that:
- A majority had medium cybersecurity risks with scores over 6000 but below 8000.
- Over 1/3 had not configured SPF and over 3/4 had not configured DKIM or DMARC, leaving them vulnerable to phishing.
- 70% had not set up a privacy policy or terms page on their site, risking noncompliance with GDPR.
- 42% were susceptible to the CRIME SSL vulnerability and under 7% to POODLE, showing risks from outdated encryption.
- Over half had vulnerabilities like lack of XSS protection, WAF, or HTTPS that could enable attacks.
The document summarizes Guardian Analytics' wire fraud protection solution. It discusses the rise of business email compromise (BEC) wire fraud, with funds lost increasing over 400% from 2015 to 2016. Guardian Analytics protects customers of the Fiserv wire transfer platform WireXchange through real-time risk scoring of wire transactions. This solution has successfully prevented millions of dollars in fraudulent wires for various banks and credit unions. The document promotes Guardian Analytics' fraud detection capabilities and provides customer testimonials and a diagram of how its real-time wire monitoring works integrated with the WireXchange system.
How to Establish a Cyber Security Readiness ProgramMatt Moneypenny
On August 23rd, Etactics, ABA Insurance Services, and Risk Compliance Group teamed up to host a free webinar – “How to Establish a Cyber Security Readiness Program”.
Each day, more users store confidential data in the cloud. According to Gartner, Inc., the world’s leading research and advisory company, the world will store 50 times the amount of confidential data in 2020 than they do now. This increase in usage has lead to an increase in cybercrime, that’s expected to cost $6 trillion in damages by 2021. But how do you stop all of this?
The three companies provided the insight necessary to those who attended to begin establishing a cyber security readiness program of their own.
The document discusses the need to automate security operations centers (SOCs) to effectively manage cybersecurity risks and threats. It provides examples of how automation can help shorten response times to phishing attacks from hours to minutes and reduce the cost of responding to data breaches compared to organizations without security automation. The document also outlines scenarios where automation assists with classifying malicious URLs and enriching incident data with threat intelligence to speed up incident response. The overall message is that automation is necessary for SOCs to scale effectively given skills shortages, growing volumes of data, and budget constraints.
This document discusses how small and midsize businesses are prime targets for cybercriminals for five key reasons:
1. Their data is often more valuable than they realize, whether it be customer information, intellectual property, or access to larger partners' systems.
2. Cyber attacks against SMBs offer low risk and high returns for criminals due to the difficulty in attribution and punishment.
3. SMBs present easier targets as they typically have smaller security budgets and expertise compared to large enterprises.
4. Many SMBs are complacent about cyber threats and do not consider security a high priority.
5. Most SMB security tools are inadequate against sophisticated modern attacks.
The Insurance Digital Revolution Has a Fraud ProblemTransUnion
The rapid digitalization of the Insurance Industry has not only opened up access channels for customers, but also created targets for fraudsters. The time is now to protect your business from fraud as you convert to digital. In this webinar, we’ll analyze the 5 Strategic Approaches to Digital Optimization and Transformation in Insurance that Gartner laid out in their report and explore possible fraud threats that can arise as a result of such transformation.
Register today to learn more from us about:
- Combating fraud threats introduced by the move to digital, such as ghost broking
- Detecting and preventing growing account takeover
- Protecting the entire customer lifecycle
- How to arm your SIU to more effectively fight fraudulent claims
- Improve identity verification to reduce early term losses
SAS Fraud Framework for Insurance, an end-to-end solution for preventing, detecting and managing claims fraud across the various lines of business within today's insurers
Digital Identities within the ThreatMetrix Digital Identity Network show a pattern of trusted behavior by incorporating anonymized non-regulated personal information such as user name, password and email address with device identifiers, connection and location characteristics. At the same time ThreatMetrix profiles all devices accessing a website (desktops, laptops, smartphones, or tablets), to identify the presence of malware or other anomalies that might indicate a high-risk transaction. High risk anomalies can be easily identified and flagged for review or automatic rejection. Businesses can confidently detect transactions, including:
Payments From Legitimate Users – Confidently approve transactions from legitimate, trusted users; streamlining their online experience and reducing unnecessary friction.
Transactions From Cybercriminals – Reject transactions from known fraudsters, or bots carrying out credit card testing. Detect multiple identities using a single device, mismatches between identity and location, devices disguising their true locations, and other indicators of identity theft.
MITM or MITB Malware – Avoid accepting transactions from devices compromised by malware. Use page fingerprinting to detect compromised sessions that may be redirecting or altering transaction information in flight.
This document analyzes the 2008 security breach at payment processor Heartland Payment Systems using the COBIT framework. It identifies several issues with Heartland's security controls that may have allowed the breach, including a lack of strong access controls, user account management, security monitoring, and incident response procedures. Implementing controls in these areas could have helped detect and prevent the malware infection that stole payment card data from Heartland's network.
Cyber Defense for SMBs offers guidance to help small and medium-sized businesses identify the most cost-effective best practices to help improve their business’s cybersecurity posture. Published by the Florida Center For Cybersecurity and written by cybersecurity experts from academia, private industry, government and the military.
On May 25, 2018, the General Data Protection Regulation (GDPR) will go into effect. Are you properly prepared? According to Gartner, not many will be: “By the end of 2018, over 50% of companies affected by the GDPR will not be in full compliance with its requirements".
Lessons v on fraud awareness (digital forensics) [autosaved]Kolluru N Rao
Digital forensics is the scientific process of analyzing digital evidence from computers, mobile devices, and other electronic storage mediums. It involves securely acquiring and preserving digital evidence, extracting and analyzing relevant information, and documenting the process to present findings in a court of law. The key stages of digital forensics are identification, collection, analysis, interpretation, documentation and presentation of digital evidence. There are several branches of digital forensics including network forensics, firewall forensics, database forensics, mobile device forensics, and email forensics. Maintaining a proper chain of custody is also important to ensure digital evidence remains untampered and admissible in court.
#IBMInsight session presentation "Mitigate Risk, Combat Fraud and Financial Crimes"
The Issue of fraud, challenges, fighting fraud as an enterprise endeavor, IBM Smarter counter fraud framework and IBM Counter Fraud business services
More at ibm.biz/BdEPRH
How to Use Data Analytics to Detect Fixed Asset and Inventory FraudFraudBusters
FRN combines the high quality, authoritative anti-fraud and audit content from the leading providers, AuditNet ® LLC and White-Collar Crime 101 LLC/FraudAware.
The two entities designed FRN as the “go-to”, easy-to-use source of “how-to” fraud prevention, detection, audit and investigation templates, guidelines, policies, training programs (recorded no CPE and live with CPE) and articles from leading subject matter experts.
FRN is a continuously expanding and improving resource, offering auditors, fraud examiners, controllers, investigators and accountants a content-rich source of cutting-edge anti-fraud tools and techniques they will want to refer to again and again.
White-Collar Crime Fighter Newsletter Subscribe Now at No Cost!
FraudResourceNet has made the premier Anti-Fraud newsletter, White-Collar Crime Fighter freely available to all. All this is required is to complete the registration form with your work email address!
The widely read newsletter, White-Collar Crime Fighter brings you expert strategies and actionable advice from the most prominent experts in the fraud-fighting business. Every two months you'll learn about the latest frauds, scams and schemes... and the newest and most effective fraud-fighting tools, techniques and technologies to put to work immediately to protect your organization.
When it comes to fraud, knowledge of the countless schemes, how they work and red flags to look for will help keep you, your organization and your clients safe.
At FraudResourceNet we understand this and take great pride in providing our FREE White Collar Crime Fighter newsletter -- filled with exclusive articles and tips to provide the knowledge you need.
Make sure you stay informed. Sign up for White Collar Crime Fighter newsletter and we’ll keep you up-to-date on special promos, training opportunities, and other news and offers from FraudResourceNet!
Signing up is easy and FREE. If you have not already subscribed to our newsletter, please sign up to get started!
Sign up for the White Collar Crime Fighter Newsletter (a $99 value ... now completely FREE)
This document reviews techniques for online fraud detection. It discusses how increased online activity through social media and ecommerce has led to more fraud. It describes common types of online fraud like identity theft, credit card fraud, and phishing scams. It also outlines statistical and artificial intelligence methods that can be used for fraud detection, like data preprocessing, calculating statistical parameters, clustering, matching algorithms, and forensic analytics. The goal is to detect anomalies in user behavior and transactions that indicate potential fraud.
Stop occupational fraud - Three simple steps to help stop fraudWynyard Group
Three simple steps can help companies counter internal fraud: 1) be proactive in identifying fraud risks through education and enforcing policies; 2) strengthen employment policies such as background checks and monitoring employee behavior; 3) employ data analytics tools to quickly analyze large amounts of data to identify suspicious patterns and mitigate risks early before significant damage occurs. Wynyard provides powerful software and analytics to help identify fraud and protect organizations.
LexisNexis Bridger Insight is a software that allows users to screen customers, clients, or third parties in real-time or in bulk against watch lists to ensure compliance with sanctions and regulations. It uses advanced matching algorithms to find potential name matches while minimizing false positives. The software integrates easily, is cost-effective, and automatically adapts to regulatory changes.
Recognizing and Preventing Fixed Asset and Inventory Fraud using Data AnalysisFraudBusters
Webinar series from FraudResourceNet LLC on Preventing and Detecting Fraud Using Data Analytics. Recordings of these Webinars are available for purchase from our Website fraudresourcenet.com
This Webinar focused on fraud detection using data analytic software (Excel, ACL, IDEA)
FraudResourceNet (FRN) is the only searchable portal of practical, expert fraud prevention, detection and audit information on the Web.
FRN combines the high quality, authoritative anti-fraud and audit content from the leading providers, AuditNet ® LLC and White-Collar Crime 101 LLC/FraudAware.
The two entities designed FRN as the “go-to”, easy-to-use source of “how-to” fraud prevention, detection, audit and investigation templates, guidelines, policies, training programs (recorded no CPE and live with CPE) and articles from leading subject matter experts.
FRN is a continuously expanding and improving resource, offering auditors, fraud examiners, controllers, investigators and accountants a content-rich source of cutting-edge anti-fraud tools and techniques they will want to refer to again and again.
This presentation, Ransomware Rising, details the results of a survey of security professionals taken at RSA 2017, the world’s largest security conference, exploring their experiences with ransomware.
Conducted Feb. 13-17, at RSA 2017, the in-person survey is based on responses from 170 attendees including IT professionals, managers and executives from the U.S. (77 percent), EMEA (13 percent) and other regions (11 percent).
To learn more about preventing ransomware visit, http://bit.ly/2nwKICL
The Power of a Black List, the Promise of a White Listderektop
Financial services companies are finding out that they can reduce fraud loss by quickly detecting imposters. But that is just the start of the story. Learn how the combination of multiple factors can lead to lower financial losses. -- Mark Lazar, CEO, Victrio, Inc.
This survey of over 100 Hong Kong fintech companies in 2017-2018 found that:
- A majority had medium cybersecurity risks with scores over 6000 but below 8000.
- Over 1/3 had not configured SPF and over 3/4 had not configured DKIM or DMARC, leaving them vulnerable to phishing.
- 70% had not set up a privacy policy or terms page on their site, risking noncompliance with GDPR.
- 42% were susceptible to the CRIME SSL vulnerability and under 7% to POODLE, showing risks from outdated encryption.
- Over half had vulnerabilities like lack of XSS protection, WAF, or HTTPS that could enable attacks.
The document summarizes Guardian Analytics' wire fraud protection solution. It discusses the rise of business email compromise (BEC) wire fraud, with funds lost increasing over 400% from 2015 to 2016. Guardian Analytics protects customers of the Fiserv wire transfer platform WireXchange through real-time risk scoring of wire transactions. This solution has successfully prevented millions of dollars in fraudulent wires for various banks and credit unions. The document promotes Guardian Analytics' fraud detection capabilities and provides customer testimonials and a diagram of how its real-time wire monitoring works integrated with the WireXchange system.
How to Establish a Cyber Security Readiness ProgramMatt Moneypenny
On August 23rd, Etactics, ABA Insurance Services, and Risk Compliance Group teamed up to host a free webinar – “How to Establish a Cyber Security Readiness Program”.
Each day, more users store confidential data in the cloud. According to Gartner, Inc., the world’s leading research and advisory company, the world will store 50 times the amount of confidential data in 2020 than they do now. This increase in usage has lead to an increase in cybercrime, that’s expected to cost $6 trillion in damages by 2021. But how do you stop all of this?
The three companies provided the insight necessary to those who attended to begin establishing a cyber security readiness program of their own.
The document discusses the need to automate security operations centers (SOCs) to effectively manage cybersecurity risks and threats. It provides examples of how automation can help shorten response times to phishing attacks from hours to minutes and reduce the cost of responding to data breaches compared to organizations without security automation. The document also outlines scenarios where automation assists with classifying malicious URLs and enriching incident data with threat intelligence to speed up incident response. The overall message is that automation is necessary for SOCs to scale effectively given skills shortages, growing volumes of data, and budget constraints.
This document discusses how small and midsize businesses are prime targets for cybercriminals for five key reasons:
1. Their data is often more valuable than they realize, whether it be customer information, intellectual property, or access to larger partners' systems.
2. Cyber attacks against SMBs offer low risk and high returns for criminals due to the difficulty in attribution and punishment.
3. SMBs present easier targets as they typically have smaller security budgets and expertise compared to large enterprises.
4. Many SMBs are complacent about cyber threats and do not consider security a high priority.
5. Most SMB security tools are inadequate against sophisticated modern attacks.
The Insurance Digital Revolution Has a Fraud ProblemTransUnion
The rapid digitalization of the Insurance Industry has not only opened up access channels for customers, but also created targets for fraudsters. The time is now to protect your business from fraud as you convert to digital. In this webinar, we’ll analyze the 5 Strategic Approaches to Digital Optimization and Transformation in Insurance that Gartner laid out in their report and explore possible fraud threats that can arise as a result of such transformation.
Register today to learn more from us about:
- Combating fraud threats introduced by the move to digital, such as ghost broking
- Detecting and preventing growing account takeover
- Protecting the entire customer lifecycle
- How to arm your SIU to more effectively fight fraudulent claims
- Improve identity verification to reduce early term losses
SAS Fraud Framework for Insurance, an end-to-end solution for preventing, detecting and managing claims fraud across the various lines of business within today's insurers
Digital Identities within the ThreatMetrix Digital Identity Network show a pattern of trusted behavior by incorporating anonymized non-regulated personal information such as user name, password and email address with device identifiers, connection and location characteristics. At the same time ThreatMetrix profiles all devices accessing a website (desktops, laptops, smartphones, or tablets), to identify the presence of malware or other anomalies that might indicate a high-risk transaction. High risk anomalies can be easily identified and flagged for review or automatic rejection. Businesses can confidently detect transactions, including:
Payments From Legitimate Users – Confidently approve transactions from legitimate, trusted users; streamlining their online experience and reducing unnecessary friction.
Transactions From Cybercriminals – Reject transactions from known fraudsters, or bots carrying out credit card testing. Detect multiple identities using a single device, mismatches between identity and location, devices disguising their true locations, and other indicators of identity theft.
MITM or MITB Malware – Avoid accepting transactions from devices compromised by malware. Use page fingerprinting to detect compromised sessions that may be redirecting or altering transaction information in flight.
This document analyzes the 2008 security breach at payment processor Heartland Payment Systems using the COBIT framework. It identifies several issues with Heartland's security controls that may have allowed the breach, including a lack of strong access controls, user account management, security monitoring, and incident response procedures. Implementing controls in these areas could have helped detect and prevent the malware infection that stole payment card data from Heartland's network.
Cyber Defense for SMBs offers guidance to help small and medium-sized businesses identify the most cost-effective best practices to help improve their business’s cybersecurity posture. Published by the Florida Center For Cybersecurity and written by cybersecurity experts from academia, private industry, government and the military.
On May 25, 2018, the General Data Protection Regulation (GDPR) will go into effect. Are you properly prepared? According to Gartner, not many will be: “By the end of 2018, over 50% of companies affected by the GDPR will not be in full compliance with its requirements".
Lessons v on fraud awareness (digital forensics) [autosaved]Kolluru N Rao
Digital forensics is the scientific process of analyzing digital evidence from computers, mobile devices, and other electronic storage mediums. It involves securely acquiring and preserving digital evidence, extracting and analyzing relevant information, and documenting the process to present findings in a court of law. The key stages of digital forensics are identification, collection, analysis, interpretation, documentation and presentation of digital evidence. There are several branches of digital forensics including network forensics, firewall forensics, database forensics, mobile device forensics, and email forensics. Maintaining a proper chain of custody is also important to ensure digital evidence remains untampered and admissible in court.
#IBMInsight session presentation "Mitigate Risk, Combat Fraud and Financial Crimes"
The Issue of fraud, challenges, fighting fraud as an enterprise endeavor, IBM Smarter counter fraud framework and IBM Counter Fraud business services
More at ibm.biz/BdEPRH
How to Use Data Analytics to Detect Fixed Asset and Inventory FraudFraudBusters
FRN combines the high quality, authoritative anti-fraud and audit content from the leading providers, AuditNet ® LLC and White-Collar Crime 101 LLC/FraudAware.
The two entities designed FRN as the “go-to”, easy-to-use source of “how-to” fraud prevention, detection, audit and investigation templates, guidelines, policies, training programs (recorded no CPE and live with CPE) and articles from leading subject matter experts.
FRN is a continuously expanding and improving resource, offering auditors, fraud examiners, controllers, investigators and accountants a content-rich source of cutting-edge anti-fraud tools and techniques they will want to refer to again and again.
White-Collar Crime Fighter Newsletter Subscribe Now at No Cost!
FraudResourceNet has made the premier Anti-Fraud newsletter, White-Collar Crime Fighter freely available to all. All this is required is to complete the registration form with your work email address!
The widely read newsletter, White-Collar Crime Fighter brings you expert strategies and actionable advice from the most prominent experts in the fraud-fighting business. Every two months you'll learn about the latest frauds, scams and schemes... and the newest and most effective fraud-fighting tools, techniques and technologies to put to work immediately to protect your organization.
When it comes to fraud, knowledge of the countless schemes, how they work and red flags to look for will help keep you, your organization and your clients safe.
At FraudResourceNet we understand this and take great pride in providing our FREE White Collar Crime Fighter newsletter -- filled with exclusive articles and tips to provide the knowledge you need.
Make sure you stay informed. Sign up for White Collar Crime Fighter newsletter and we’ll keep you up-to-date on special promos, training opportunities, and other news and offers from FraudResourceNet!
Signing up is easy and FREE. If you have not already subscribed to our newsletter, please sign up to get started!
Sign up for the White Collar Crime Fighter Newsletter (a $99 value ... now completely FREE)
This document reviews techniques for online fraud detection. It discusses how increased online activity through social media and ecommerce has led to more fraud. It describes common types of online fraud like identity theft, credit card fraud, and phishing scams. It also outlines statistical and artificial intelligence methods that can be used for fraud detection, like data preprocessing, calculating statistical parameters, clustering, matching algorithms, and forensic analytics. The goal is to detect anomalies in user behavior and transactions that indicate potential fraud.
Stop occupational fraud - Three simple steps to help stop fraudWynyard Group
Three simple steps can help companies counter internal fraud: 1) be proactive in identifying fraud risks through education and enforcing policies; 2) strengthen employment policies such as background checks and monitoring employee behavior; 3) employ data analytics tools to quickly analyze large amounts of data to identify suspicious patterns and mitigate risks early before significant damage occurs. Wynyard provides powerful software and analytics to help identify fraud and protect organizations.
Fortify Your Enterprise with IBM Smarter Counter-Fraud SolutionsPerficient, Inc.
Organizations lose an estimated five percent of annual revenues to fraud, totaling nearly $1 trillion in the U.S. alone. Cyber criminals are more organized and better equipped than ever, and continue to evolve their strategies in order to undermine even the strongest protections.
We continue to hear about major security breaches across all industries, but what is being done to fix the problem? There must be a tight interlock between risk, security, fraud and financial crimes management. Current solutions are proving inadequate as point solutions and a corporate silo mentality directly contribute to the risk of fraudulent activities going undetected.
Our webinar covered:
-How IBM’s Smarter Counter Fraud initiative can help public and private organizations prevent, identify and investigate fraudulent activities
-Real-world use cases including how one financial institution stopped $1M in fraud in the first week after implementing a counter-fraud solution
-Perficient’s multi-tiered approach to help guide successful business outcomes
It’s time to stop the bad guys with IBM Smarter Counter Fraud and Perficient – learn how now!
Faster payments mean higher risk for fraud, especially through Business Email Compromise (BEC). Learn how to prevent fraudulent Wire transfers from identification to intervention.
The document discusses cyber threats facing enterprises and the need for effective cyber intelligence and security. It introduces Cyveillance as offering a suite of online risk modules and intelligence services to help protect businesses, their assets, customers, and partners from a range of online threats. Key services mentioned include continuous internet monitoring, detection of risks like fraud and information leaks, and helping customers address threats faster than other systems. Testimonials from customers highlight how Cyveillance has helped them recapture lost revenues, identify compromised accounts, and detect planned actions by groups targeting their facilities.
Setting Up and Managing an Anonymous Fraud HotlineFraudBusters
Webinar series from FraudResourceNet LLC on Preventing and Detecting Fraud in a High Crime Climate. Recordings of these Webinars are available for purchase from our Website fraudresourcenet.com
This Webinar focused on the subject in the title
FraudResourceNet (FRN) is the only searchable portal of practical, expert fraud prevention, detection and audit information on the Web.
FRN combines the high quality, authoritative anti-fraud and audit content from the leading providers, AuditNet ® LLC and White-Collar Crime 101 LLC/FraudAware.
Balancing Security and Customer ExperienceTransUnion
Using Device Insight to Balance Fraud Prevention and Customer Experience
Today, your customer’s device has become their proxy for a large percentage of their online retail and banking activity. By using insight from those devices, you can reduce risk and ensure a smooth experience along the entire customer journey.
In this webinar, you’ll learn from Max Anhoury, our VP of Global partnerships, about:
* Today’s fraud and security trends
* What a fraud ring looks like
* The evolving online experience with EMV
* How to create frictionless security across the consumer journey
Same day ach bec fraud detection prevention webinar 3 1-18 Laurent Pacalin
The document discusses how to detect and prevent same day ACH BEC fraud. It provides an agenda that includes an introduction, why this matters, dissecting the fraud scheme, and why the company is unique in analyzing this type of fraud. It then describes the fraud scheme, including how hackers target executive emails, validate the emails, and fingerprint the victim's digital profile. It outlines the process from the BEC scam to fraudulent same day ACH batches. It discusses key risk factors the company looks for and how it uses machine learning and behavioral analytics to automatically establish baselines and risk score ACH batches.
This document provides information about an identity theft protection plan membership. It covers who is included in the membership, defines identity theft and how thieves obtain personal information, how thieves use stolen information, and what to do if someone becomes a victim of identity theft. The membership provides credit reports and monitoring, credit scores, continuous credit monitoring alerts, identity theft consultation services, and restoration services to help victims recover from identity theft. It also provides tips for monitoring other personal information like Social Security records.
This document outlines the cybersecurity risks faced by law firms and the steps they should take to protect themselves and their clients. It discusses how law firms are vulnerable targets due to weaknesses in their security protocols. A security assessment is recommended to identify vulnerabilities, followed by continuous monitoring to maintain protection. Establishing attorney-client privilege for communications and properly structuring the role of outside agents are also covered. The presentation aims to educate law firms on cybersecurity best practices.
The document summarizes key statistics about data loss incidents in 2013, including that over 2,000 incidents exposed over 800 million records. It outlines the typical stages companies go through after an incident and laws requiring preparation and response. The document provides a self-assessment for companies and best practices around security, forensics, communications, and international considerations for responding to a data breach. It emphasizes that companies should plan for an incident as regulatory requirements and costs can be significant for unprepared organizations.
The document discusses a new Pennsylvania Supreme Court ruling that found employers responsible for protecting employees' personal data and liable for damages from data breaches. It notes the increase in identity theft and data breaches in recent years, highlighting emotional and financial impacts on victims. Finally, it argues that subscribing to an identity theft protection plan is an affordable way for employers to help avoid these issues and protect employees.
Corporate Treasurers Focus on Cyber SecurityJoan Weber
Treasury departments at large U.S. companies rank IT security as their top priority for 2015 - ahead of such critical issues as cost management and regulatory/compliance challenges.
These finding come from the results Greenwich Associates 2014 U.S. Large Corporate Finance Study, for which the firm interviewed CFOs or treasury department representatives at more than 500 large U.S. companies.
The study results suggest that U.S. companies are taking action to address security concerns and other IT issues with 63% of the participants saying their treasury departments will increase technology spending in the year ahead.
Learn how Kim Syrop @Webster Bank reduced Fraud and false positives at the same time. Julie Conroy @Aite Group frames the challenges of protecting against sophisticated Fraud threats.
USING BEHAVIOR TO IMPROVE SECURITY AND ENHANCE RELATIONSHIPSForgeRock
The document discusses how Guardian Analytics uses behavioral analytics and its integration with ForgeRock's OpenAM identity and access management platform to detect fraud and unauthorized access. It describes how Guardian Analytics analyzes user behavior data collected during login to determine risk levels, which are then used by OpenAM to determine whether to require additional authentication for suspicious logins. The combined solution allows customers to manage user identities and access privileges while also analyzing user behavior to ensure people are who they claim to be and catching anomalies that could indicate fraud or compromised accounts.
Regulations, compliance and overall risk management place a significant operational burden on financial services.
Online lenders are no different. You have to comply with multiple regulatory requirements, and you are- like any other financial service- very susceptible to fraud.
If you want to prevent and reduce loan application fraud, your strategy and fraud detection system should include a combination of identity verification, account onboarding protection, and account monitoring.
In this post, we’ll explain how identity verification and Know Your Customer processes are related, and how you can expand them for better fraud coverage.
We’ve also provided specific recommendations for identity verification security tests, and account origination protection strategies that can help you prevent fraud during the loan application process.
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Behavioral Analytics for Preventing Fraud Today and TomorrowGuardian Analytics
This presentation introduces Guardian Analytics Omni-Channel Fraud Prevention solution as the only solution to meet the new requirements of fraud prevention.
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Co-presented with Aite Group, this webinar dives into the evolving banking landscape of Fintech innovations. From faster payments, to customer experience and expectations, these market dynamics are changing fraud prevention requirements. Guardian Analytics showcases its Omni-channel Fraud Prevention solution, which unifies customer behavior and fraud prevention across payments and channels.
Guardian Analytics provides tools to help companies assess fraud risk. Their website, www.GuardianAnalytics.com, offers resources for analyzing risks. The illustration on their document is credited to artist JQ Hammer Illustration.
The document introduces Guardian Analytics' Omni-Channel Fraud Prevention and Omni-Channel Visual Analytics products. The products provide a 360 degree view of customer risk across channels using behavioral analytics and machine learning. They consolidate customer activity, risk data, and fraud alerts from multiple systems. This allows financial institutions to make faster fraud decisions and gain insights into criminal patterns across payment types and channels.
Learn how fraudsters compromise email accounts and trick employees into wiring them money. Read how the scam works, why it's so effective, and how to prevent it.
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Open Source Contributions to Postgres: The Basics POSETTE 2024ElizabethGarrettChri
Postgres is the most advanced open-source database in the world and it's supported by a community, not a single company. So how does this work? How does code actually get into Postgres? I recently had a patch submitted and committed and I want to share what I learned in that process. I’ll give you an overview of Postgres versions and how the underlying project codebase functions. I’ll also show you the process for submitting a patch and getting that tested and committed.
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Traditionally, databases have treated timestamps just as another data type. However, when performing real-time analytics, timestamps should be first class citizens and we need rich time semantics to get the most out of our data. We also need to deal with ever growing datasets while keeping performant, which is as fun as it sounds.
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Before long, the world will wake up. But right now, there are perhaps a few hundred people, most of them in San Francisco and the AI labs, that have situational awareness. Through whatever peculiar forces of fate, I have found myself amongst them. A few years ago, these people were derided as crazy—but they trusted the trendlines, which allowed them to correctly predict the AI advances of the past few years. Whether these people are also right about the next few years remains to be seen. But these are very smart people—the smartest people I have ever met—and they are the ones building this technology. Perhaps they will be an odd footnote in history, or perhaps they will go down in history like Szilard and Oppenheimer and Teller. If they are seeing the future even close to correctly, we are in for a wild ride.
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https://ml.dssconf.pl/user.html#!/lecture/DSSML24-041a/rate
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https://www.youtube.com/@FLaNK-Stack
https://medium.com/@tspann
https://www.datainmotion.dev/
milvus, unstructured data, vector database, zilliz, cloud, vectors, python, deep learning, generative ai, genai, nifi, kafka, flink, streaming, iot, edge
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Keystroke logging malware and man in the middle browser attacks. FFIEC came out with new guidelines for multifactor authentication. Star One realized even with the new MFA members were not protected from online fraud. Keystroke logging malware and man in the middle browser attacks would continue and make members vulnerable to fraud. We also knew that education would not solve this problem either. Ultimately, any fraud or losses would be Star One responsibility and we would make our member whole.
Our view was that all members pcs are compromised and to built a security strategy to protect members and detect criminal online activity.
In late 2006, GA called to pitch a new fraud monitoring system that was not solely based on rules but in their concept also included behavioral detection. We were intrigued as we knew that the MFA wasn’t a fraud solution so we invited GA in and they pitched their idea and we were sold. Not only did their behavioral analysis made them different, they also promised less false positives, ….and here we are today!!
When Guardian Analytics was founded in 2005, the original founders had determined that financial institutions, and their customers, were not adequately protected from fraud.
At that time, FIs were relying on rules-based systems that could not keep up with the changing tactics from fraudsters. In addition, the rules were unnecessarily cumbersome for legitimate customers trying to conduct banking transactions.
The abundance of alerts generated by overly conservative rules resulted in some fraud analysts ignoring alerts, which allowed persistent fraudsters many opportunities to breach customer accounts.
Ultimately a new approach was needed and this paved the way for machine learning.
Guardian Analytics developed the first fraud detection platform that used machine learning and behavior-based anomaly detection to help financial institutions prevent fraud.
Through machine learning and behavioral analytics, the Guardian Analytics platform is able to automatically adapt to new types of fraud, reduce false positives, and remove friction between financial institutions and their customers.
Criminals can get past controls
(limits, authentication, email alerts)
Cross-channel fraud starts online
(check fraud, call center fraud, faxed wire fraud)
Most FI’s at that time didn’t realize that some of the payment fraud originated with compromised online banking logins and focused where the fraud occurred not where it generated. Star One learned that lesson when working with Guardian during the beta realizing that some of the online banking credentials were compromised resulting in fraud through other channels as wire fraud or ACH. Most of the FI at that time thought that MFA would suffice. A few signed up with another competitor in the space which was rule based alerts and generated a lot of false positives.
I like to use a phrase from my web service manager, our members can tattoo their account logins on their fore head and they are protected. By using guardian we are protecting our members from themselves. We can catch fraud before it occurs by an alert from GA and as we contact our members to validate the login we can block the fraudster from using the information or if a request comes through we already know that the members has been compromised. Any unusual requests via online or faxes for large $ withdrawal (wire, Ach, Transfer or check requests) staff would check with Web services against the alerts from Guardian. We have that much confidence in the tool we raised our mobile deposit limit from $ 25K to $200 k and have now eliminated the limit completely.
We also at that time knew that behavior analysis was the key, not transactional.
Discovery: Our member noticed that their Bill Pay account had a new entry and a charge for $4,500 that she did not authorize.
Setup: A fraudster performed an unauthorized login into our members online account and set up a new Bill Pay payee/payment for $4,500 (sent to a person he met in an online romance internet chat room).
Result: The fraudster obtained our members login info, we feel, from a Phishing e-mail and used the existing Bill Pay account to send his chat companion $4,500. The fraudster then asked the unknowing chat accomplice to wire him $4,500 from her account to pay him back. After we put the funds back into our members account and reversed the transaction, the unknowing accomplice was out the $4,500.
Takeaways: The source of this fraud was the Phishing e-mail and the entry into Online Banking. If we would have had the Guardian Solution in place at the time of this fraud, we feel, it would have been prevented and would have revealed the suspicious activity at the time of the initial unauthorized login.
Discovery: Our member noticed there was $98,000 missing from his Savings Account and that it had been transferred into his HELOC and then the funds were withdrawn. All of this occurred over a 5 day period. He noticed it after reviewing his monthly statement.
Setup: A fraudster performed an unauthorized login into our members Online account and viewed his cleared drafts over and over (in order to learn and copy the signature of our member). The fraudster then transferred $98,000 into the HELOC account using Online Banking. The next day we received a signed faxed request for a Wire Transfer in the amount of $98,000 to a bank in Texas. We performed the normal due diligence (verified signature and contacted our member based upon our host system info) and completed the transaction.
Result: The fraudster obtained our members personal info and used social engineering and our call center to change the phone number of record (changed to his number) and the Online Banking password. Thus when we did our due diligence, we ended up calling the actual fraudster to confirm the transfer as well as confirming the signature. Upon the member alerting us (in a panic), we asked Guardian to reconstruct the login analysis of this member (we were in beta testing with their pilot program at the time). The results were stunning. On the initial date of the login (1 day prior to the call center manipulation), FraudMap discovered the online profile anomaly and alerted “Red”.
Takeaways: The source of this fraud was the public/private info the fraudster had in order to social engineer our call center. We feel, and have the proof, that the Guardian solution would have discovered this fraud even though it involved both online and offline activity.
Discovery: Guardian alerted “Red” for a login into a members account. Further investigation revealed that the person who performed the unauthorized login looked at check images and changed the password and Multi Factor question.
Setup: The fraudster, we believed at the time, used a Trojan or key logging program or a Phishing e-mail to gain the users member number/password/Multi Factor question and answer. Because the check images were viewed, we felt that further fraud might be brought to this account.
Result: We placed contacts on the account and contacted the member. The member was sure that it was not anything on his system because he claimed he kept his PC clean and practiced good security. We recommended he run an adware or malware program to further clean the machine. Upon doing so, he in fact found a key logger on his system and couldn’t thank us enough.
Takeaways: Even practicing good security habits can leave a PC vulnerable. With a solution in place that really guards against unauthorized logins, we feel we have extended the security on our valuable Online Banking members who are amongst the most savvy and profitable to us.
Discovery: A member filled out a Visa dispute form for charges that she claimed she or her daughter had not authorized. Oddly, she claimed that some payments to her Visa had also been made online.
Setup: The member actually disputed a large number of transactions until we used the Guardian system to find out that there were no unauthorized logins and in fact the profile was quite normal for the dates she claimed withdrawals and payments were being made.
Result: Upon realizing that we were not completely sure that there was fraud involved, the mother “remembered” that she in fact had made the purchases and payments for her daughter and rescinded her affidavit after pressure from her spouse.
Takeaways: The Guardian system helped us detect when there was no fraud present. We feel that after explaining our methods of investigating online fraud and specifically the use of the login analysis tool, that our member realized that we have were aware of actual verified logins performed by the daughter and mother at the time she clamed there was fraudulent activity.
an approximately 2,760,000 login attempts. Of those, 1,745 were red alerts and 5295 were yellow alerts representing a combined 0.26% of our total logins.
This resulted in approximately 19 (red and yellow) events per 7540 login events on average per day.
On a typical mid-week day, we see on average 5-7 red alerts. Those are highly qualified alerts and the low false positive figure allows us to concentrate staff time on investigation real probable fraud scenarios.
Of those Red/ Yellow events 236 required qualifying. Of those, 41 were qualified action events (required follow up /placing a contact on the host or contacting the member).
Bill Pay alerts - 9 transactions, $160,469.41
Reg E ACH Disputes - 40 transactions, $197,179.64
Wire Transfer fraud - 4 transactions, $878,471.84
Additional Results
2017 – received wire form from a suspicions IP address
Wire Fraud attempted $230,000
2016 – suspicious login, call center social engineering
Fraud attempted $130,000
2015 – suspicious alert, member confirmed fraudulent
Fraud attempted $65,000
2013 – suspicious login, compromised computer. EFT and BP.
Fraud attempted $322,000, loss sustained $65,000
Let’s talk a little bit about how machine learning actually works to identify fraud.
Machine Learning models follow a well-defined pattern that is used across Data Science. The model collects user data from online activity and transactions. This data allows the model to learn the behavior of each user. Each new user activity provides the model with more information to learn (such as location from where transactions is being made, amount of transactions, type of computer, type of browser, recipient, etc.).
When a new transaction is made by the user, the Machine Learning model compares the behavior of the new transaction against the already learned behavior across many data points (is this a new type of computer, is the location different, etc.). If the behavior is anomalous – meaning it doesn’t fit the pattern that the system has seen in the past from that user — the system flags the transaction so that it can be reviewed. This allows fraud analysts to take action to mitigate the risk and learn from it.
Thus, our platform knows that Customer A uses a PC and only logs in to online banking from home on Friday nights. When the system detects this customer trying to log in from an iPhone in Italy, it knows that the behavior is highly unusual for him, even if it wouldn’t otherwise be noteworthy for a different customer.
Having the online protection and saw how it protected our members and Star One, it was an easy decision to incorporate the mobile channel when GA came to us for testing. Even though our fraud is low compared to some other FI’s we wanted to ensure that all channels had some type of monitoring. GA knew that Star One processed a lot of wires and any wire requests was checked against online logins for unusual behavior. That protected online members not all. So when GA came out with a wire fraud tool Star One was first in line again as well as for ODFI ACH. Even though our originating ACH files are small they are at higher risk so we implemented ODFI as well. We really wanted the RDFI, that’s where our volume is. We feel that all these tools work together and provide a good picture of our members transaction behavior so looking to GA for an AML solution was second nature. We have one in place currently because GA didn’t have one, but we would love to switch over AML to GA as well.
We like the Omni channel analytics but to be honest we haven't signed up for it just yet.
We use FraudMAP for external funds transfer name mismatch validation and additional context
We monitor account activity
We investigate Bill Pay signups
We validate member “claims” about activity, for example:
Email address changes by ex-wife
“Fraudulent” Bill Pay by members
“Account takeover” by member’s mother
Fraudulent transactions (bill pay, wire, etc.)
Account reconnaissance (view check images, change email address, etc.)
Guardian has allowed us to take more risks and make our members happier
Full range of online and mobile services
Increase external transfer limits
Increase RDC from $2,500 to $200,000
The benefits that Star One described are representative of what we are seeing across our customer base. To validate these results, we engaged Nucleus Research Group who worked directly with our customers to analyze the impact from using Guardian Analytics. As you can see the benefits are impressive. Based on our customer data, fraudulent transactions were cut by 90%, False positives reduced by 5x, and Callbacks reduced by 80% -- all of which lead to helping FIs capture Fraud before it occurs.
Our financial crime prevention platform provides end-to-end protection to financial institutions and their customers.
We provide Visual Analytics that allow fraud teams to get a 360-degree view of customer behavior. And our increasingly comprehensive views of multi-channel activity bring us closer to making true Omni Channel a reality for our customers. We cover the whole scope of banking interactions, from login to the actual transactions. These insights into customer behavior provide advanced protection and real-time control over fraudsters and fraud risk. And it’s all built on the industry’s leading behavioral analytics and machine learning risk engine.
Our Enterprise API enables machine-to-machine integration and gives our customers the best protection against fraudulent attacks. On top of all of this, our new business intelligence dashboard, Fraud Cockpit, provides full business insights into Fraud Operations.
We truly mean business when it comes to protecting our customers’ financial assets. With more than 450 financial institutions as our customers, ranging in scope from millions in assets to $600Billion, we analyze the behavior of over 40M commercial and retail account holders, and protect over $5B in banking activities each year, making us the #1 behavioral analytics platform for Fraud detection.