Online customer accounts are a serious target for sophisticated criminals looking to commit unauthorized transfers and harvest data to perform numerous types of fraud.
With their ability to be accessed from anywhere with a large degree of anonymity, these online accounts are ideal targets for criminals. Once they have compromised an account or opened a new account with stolen data, money can be moved very quickly – potentially leaving an institution on the hook for large losses.
Join us for a deep dive into Verafin’s Fraud Detection and Management solution that leverages big data intelligence and Machine Learning in cross-channel fraud analytics to detect online account takeover and intersecting frauds. Verafin’s targeted fraud prevention solutions detect unusual online activity, alerting you in time to protect customer accounts and reduce the risk of loss.
Highlights of this product demonstration will include:
- Overview of the growing threat of online account takeover including the rise of stolen data in compromised accounts, tactics used by cybercriminals to access online banking systems, and examples of fraud scams perpetrated online.
- Overview of Verafin’s Fraud Detection solution, including advanced analysis of multiple data sources such as online banking systems, deposit and withdrawal channels, as well as consortium data in the Verafin Cloud.
- Demonstration of Online Account Takeover Detection, including risky service provider identification from Verafin Cloud data, digital fingerprint analysis, potential online reconnaissance, out-of-pattern online activity, unauthorized access from high-risk or international IP addresses, and new-to-online banking scenarios.
- Demonstration of Verafin’s consolidated Fraud Management capabilities, with a centralized platform combining adaptive fraud alerts, robust case management, management dashboards, and user-friendly reporting functionality to provide a holistic view of fraud across all departments, improve investigator effectiveness, and increase fraud loss prevention.