INTERNAL FRAUD SOLUTION

Financial institutions suffer huge revenue losses due to fraud schemes. Fraudsters use sophisticated means to circumvent existing policies and fraud systems in place. Lack of goodwill to invest in modern methods of fraud detection, weak regulatory enforcement, challenges in law enforcement agencies and limited human resource provide a fertile ground for criminals.

Organizations need to detect and prevent both internal and external fraud in real-time across all channels in the organization.

ORGANIZATIONS SITUATION

  • Distinguishing:- between malicious and ordinary activities among employees is complicated.
  • Silos:- multiple systems, partly  legacy and inability to cross-reference and discover relationships between suspicious entities.
  • No real time monitoring of activities:- takes months or years to realize a fraud.
  • Risk exposure:- on fraud loss and reputation damage.
  • No or incomplete case manager:- incident investigation puzzle and weak evidence.

THE SOLUTION OFFERS

  • Behavioral analysis:- Solution analyses both user behavior changes and data to detect anomalies. Data only won’t tell it all.
  • Cross-platform capabilities:- Connects with all corporate systems, enables investigators to Google-like search on user screen content activities including BROWSE ONLY activities that lack logs.
  • Single window:- Solution covers all types of fraud risks (Internal, ATM/POS, Web, Mobile, Swift, AML) with flexibility to cover current and future fraud scenarios.
  • Real time monitoring:- Prevents fraud by detecting negligible suspicious activities aggregation. Detects both planned and unintentional mistakes.
  • Fraud prevention:-  Dynamically profiles all entities (employee, accounts, customer, products etc) and holds each staff/user accountable. Reduces reputational exposure and fraud loss.
  • Case manager:- Provides complete audit trail, link analysis, historical investigation capabilities and custom reports. Visual session record and replay of user click-stream helps management make better decisions.