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Internal Fraud in Banks

The Internal Fraud Challenge

In the resent past Kenyans and specifically the young adults have become obsessed with get rich quickly syndrome.

With our moral values deminishing like flash light, luck of responsibility, consistently pushed to live a lucrative lie in our society. Any chance to defraud will easly be taken

The Kenya Society full of greedy, arrogance and rationale that everyone fudges and that short cut works, fraud has constantily increased.

This has increased threats to Banks by their own employees and other insiders who are authorized to access core applications and data.

Distinguishing between malicious and ordinary activity of bank employee is, however, challenging since both innocent and malicious employees use legitimate system commands.

Detecting breaches effectively requires full visibility into employee behavior as they access different applications. Most organizations rely on partial data based on logs of confirmed transactions, excluding user queries and incomplete transactions. Traditional, siloed, and rigid solutions lack the technical sophistication to ward off hordes of fraudsters who are constantly evolving their methods of subterfuge.

Detecting insider fraud is a challenge, also because of the many ways in which well-informed employees can manipulate business processes and bypass controls.

Identifying these manipulations requires a system with a wide range of fraud scenarios, advanced analytic capabilities and high flexibility to detect anomalies within seemingly regular behavior patterns.

Intellinx introduces the first of its kind, end-to-end insider fraud solution: most vendors provide mainly analytics and investigative functions, and require organizations to prepare the data for analysis (ETL).

Intellinx, conducts sniffing of corporate networks, and prepares data for analysis, reducing the need for lengthy and laborious ETL (traditional data sources such as logs and data warehouses may be used additionally if needed).

Intellinx provide a full coverage of all user activity - real-time - alerting to suspicious activity and stopping fraudsters while still planning the crime.The Intellinx analytic engine, containing predefined rules based on knowledge from over 200 deployments worldwide deployments is able to detect anomalies with minimum false positives.

The rules can be easily adapted to the specific fraud of the organization and additional rules by the bank trained staff.

Inside Fraud Features Include:

•Real-Time Alerts & Investigations of Alerts & Cases:- Precisely investigate alerts and document suspicious behavior in the case system in real-time.

•Link Analysis:- Visually display relationships between users (employees, customers, accounts, and others), systems, and data. Fraudulent entities, or those under investigation, are highlighted to allow further examination.

•Screen-by-Screen Replay:- Investigators can replay user activity and analyze behavior, screen for screen, to fully understand everything that a user did and saw across systems and applications over time.

•Cross-Platform Search of User Activity:- Perform a Google-like search on the content of all screens accessed by users across disparate systems in a given timeline, to find, for example, all users who accessed a specific customer account in a specific timeframe.

•Case Manager :- provides an enterprise-wide case management This includs configurable workflow and Suspicious Activities Reports (SAR) filing.

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