Real-time fraud detection

European Merchant Services

Stu Ward, Director of Financial Services APAC, Confluent James Gollan, Enterprise Solutions Engineer ANZ, Confluent

Technology

Real-time fraud detection (Session + Demo)
Stu Ward, Director of Financial
Services APAC, Conﬂuent
James Gollan, Enterprise Solutions
Engineer ANZ, Conﬂuent

Fraud and Scams major issue for Australians

What is the cost of
recovery?
Every $1 of fraud now
costs the industry $4.

Why can’t companies stop fraud, despite having made
massive investments in technology?
Organizational design has led to
operational silos.
● Fraud teams and Cyber Security operating
independently.
01
Fraud teams typically work with
structured data from the GL or
databases, watch lists etc.
02
Cyber Security teams typically work
with unstructured data sources
from logs. This data is rich in clues,
but often the fraud teams don’t
have access to it.
03
Many fraud detection systems
focus on individual types of fraud,
e.g. transaction fraud.
04

What evidence
do ﬁnancial
crime-ﬁghters
look for?

Real-time
Two key requirements for detecting fraud
Contextual

Conﬂuent Cloud fraud demo scenario
Website Logs (HTTP)
Login Attempts
IP & Geo-data
Watch lists
Payments & Transfers
Enrich
Route
Filter
Join
Detect
Govern
Super-TRAP
Score
Login & BOT Scores
Payment &
Transfer Scores

Account TRAP* scores
Topic 1
Topic 2
Topic 3
Topic 4
Topic 5
Topic 6
Calculate TRAP A
Calculate TRAP B
Calculate TRAP C
Calculate TRAP D
TRAP SCORE
TRAP SCORE
Source
Continuously
stream data to
Conﬂuent
ADD TO WATCH
LISTS
DOWNSTREAM
ALERTING
INVESTIGATIONS
DASHBOARDS
Track
Event driven
immutable data
Process
Enrich & cleanse,
continuously calculate
risk scores
Assess
Examine temporal
Scores
Share
Outputs and alerts
HTTP LOGS
AUTH LOGS
TRANSACTIONS
WATCH LISTS
*TRAP = Temporal Risk Analysis Probability - (Risk Indicators)

Stream Designer ﬂow for Transfers & Payments
95

Stream Designer ﬂow for Transfers & Payments
96

Getting started with Conﬂuent Cloud is easy!
Have your teams access a
free Conﬂuent Cloud
account!
*Free credits worth $400 during the ﬁrst 30
days for all new sign ups.
All the resources you need to
set your Data in Motion,
in one place.
Revisit today's materials and gain access to
on-demand webinars and toolkits.

Lucky Draw
Rafﬂe through your stamped passports!

With credit card fraud dramatically on the rise, particularly in the form of card-not-present (CNP) fraud across Internet and Mail Order/Telephone Order (MOTO) channels, it is important for private label issuers to understand the depth of this problem and how it affects their merchant portfolio and their ability to accept private label cards. Private label cards were often considered to be “low risk”, relative to traditional bank cards, but our current analysis has shown the contrary: fraudsters are increasingly using private label cards as the payment instrument in CNP channels and merchants are at great risk if specific strategies are not put in place to stop it.

Fortify Your Enterprise with IBM Smarter Counter-Fraud Solutions

Perficient, 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!

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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)

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We believe Gartner’s report, “The Growing Problem of Synthetic Identity and First-Party Fraud Masquerades as Credit Losses,” discusses the rise of synthetic identity and first party fraud losses being concealed as credit losses. In Part 2 of this webinar series we will explore Gartner’s recommendations and provide some real-world advice on how you can prepare your business to fight this trend. In Part 2 of this webinar series, we’ll conclude with: - Exploring how to battle synthetic identities and first party fraud - Reviewing Gartner’s recommendations for building a comprehensive fraud prevention strategy - Looking at some specific capabilities for helping to stop this type of fraud *Gartner: Take a New Approach to Establishing and Sustaining Trust in Digital Identities, Tricia Phillips, Danny Luong, 1 March 2018.

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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.

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So you're in information security, huh? Did you know that your allies over in the fraud prevention team have real-time risk context that can make your user authentication processes adaptive and risk-aware? That they have the context that can make authentication continuous? Especially if you have large groups of external, non-enterprise consumers to authenticate and provide access for? Last year research firm Gartner introduced their “Trusted Identity Capabilities Model,” a blueprint for converging the work done by identity proofing, authentication and fraud prevention teams, with the goal of gaining greater efficiency and gaining insight into new risks. Side benefits like better user experience and better alignment to organizational goals also come out of this model. Part 2 of this webinar series looks at the signals -- both risk signals and familiarity signals -- that feed the Trusted Identity Capabilities Model and can give you strong, adaptive, risk-aware authentication that better leverages tools you’ve already deployed (and paid for). We’ll use diagrams and content from the original Gartner research, under temporary license to iovation.

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