Identify application fraud and protect genuine user information from being exploited.
Monitor web and mobile banking sessions to expose risky actions indicative of fraud.
Identify money laundering activity and proactively detect the mule accounts before funds are moved.
Detect and stop authorized payment fraud before funds leave the customer’s account.
Social engineering scams are on the rise globally. Last year, these scams increased 57% with an average loss of $1,029 per victim. Aside from the inability of legacy fraud controls to detect real-time social engineering, the circumstances of a scam can influence liability if the parties involved are unable to recover the funds. This creates a huge reputational risk for financial institutions and emotional distress for consumers.
Download the latest research from Aite-Novarica which examines scam activity globally and provides insights on: