Fraud Protection for Banks

Fraud protection for banks - ScienceSoft

Banking and finance are the most “attractive” sectors for fraudulent activities from both inside and outside, breaking all the breach records in comparison to other industries. Based on the careful studies of security challenges for banks and financial institutions, ScienceSoft has developed a Qradar-based solution to help our clients combat fraud.

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.

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.

The highest possible efficiency of our fraud protection services is achieved by:

  • Real-time data analysis.
  • Monitoring all bank location.
  • Gathering data from all possible resources.

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COVID-19 – An update to our clients
In the uncertain time of Coronavirus (COVID-19) outbreak, I want to assure you that ScienceSoft remains fully operational and dedicated to supporting the continuity of our customers’ businesses. Most of ScienceSoft’s employees work remotely, and we’re equipped to provide our services in new conditions, with no impact on the quality of service or communication.
In the uncertain time of Coronavirus (COVID-19) outbreak, I want to assure you that ScienceSoft remains fully operational and dedicated to supporting the continuity of our customers’ businesses. Most of ScienceSoft’s employees work remotely, and we’re equipped to provide our services in new conditions, with no impact on the quality of service or communication.
Stay safe and healthy,
Nikolay Kurayev,
Chief Executive Officer at ScienceSoft