INTERNET BANKING FRAUD

High speed internet and mobile devices increased customers’ appetite for on-demand services. All financial institutions in Kenya provide internet banking services, giving way to cyber-attacks.

ORGANIZATIONS SITUATION

  • No real time fraud detection.
  • Inability to manage:- header reuse, bad cookies, session hijacking, bad referral URLs, bad countries, bad credit card verifications, DDoS.
  • Internet banking silence challenge:- Silos – multiple channels and inability to cross-reference and discover relationships between suspicious entities.
  • Risk exposure:- on fraud loss and reputation damage.
  • No or incomplete case manager:- incident investigation puzzle and weak evidence.

THE SOLUTION OFFERS

  • User and entity behavioral profiling and scoring:- analytic engine that provides a highly flexible and adaptable data model which supports advanced calculations and correlations in real-time.
  • Device profiling:- i.e , Geo-location, time, browser, operating system, card type, country, IP, IMEI etc, for correlation and scoring.
  • Real time transaction blocking:- Hold/Block/Release mechanism.
  • Integration capabilities:- ability to infuse with all applications and process hundreds of millions of web requests per day.
  • Simplicity in rule management :- ability to create custom rules without IT effort.
  • Robust case manager:- with complete audit trail and link analysis.