Fraud Protection for Banks
Fraud detection software is an indispensable part of all banking systems that prevents breaches, vulnerabilities and fraudulent activities. Based on the careful studies of financial institutions’ security challenges, ScienceSoft has developed a QRadar-based solution to help our clients combat fraud.
Types of Fraud We Help Prevent
Many types of fraud can be detected only when they cause damage repeatedly:
- Payment card fraud.
- ATM fraud.
- Call-center fraud, banking service center fraud (internal fraud).
- Money laundering.
- Unauthorized access to confidential information.
We Identify 40+ Fraud Patterns with QRadar SIEM
Using IBM Security QRadar SIEM, we can identify over 40 fraud patterns through monitoring:
- Payment card hijacking.
- Unauthorized software running on ATM.
- Transactions from one payer to several accounts in multiple locations and backwards.
- Over-the-limit transactions.
- Systematic transfer of funds between two accounts.
- PAN key entries.
- Unsuccessful authentication and user activity outside the office hours.
- Repeated payments.
- Suspicious payment purposes and more.
How We Ensure Efficiency of Fraud Protection
- Real-time data analysis.
- Monitoring all bank locations.
- Gathering data from all possible resources.