Software that focuses on transactions rather than staff behavior to spot and stop internal fraud avoids the problem of personalizing fraud risk, which can demotivate staff and put off new recruits. What’s more, it’s better at preventing fraud, writes Sandy Lavorel. Opportunity makes the thief. Worryingly, Covid-19 has provided the opportunity for many, including a […]
Jérôme Kehrli explains 3D AI and the three pillars of supervised, unsupervised and ADAPTIVE learning that lie behind the award-winning software’s market-beating performance when it comes to defeating the fraudsters Whenever our software is run head-to-head in a pitch situation against that of our rivals, we always come out top. We always find more fraud […]
Only smart, AI-driven software that monitors transactions in real time can hope to deliver the level of protection required to stop fraudsters exploiting the opportunity instant payments afford them. Just as consumers and corporates like instant payments for their speed and irrevocability, so do fraudsters. They know funds transferred to them are available instantly and […]
When NetGuardians recently brought together some of Europe’s top fraud specialists from major banks and organizations, the resulting discussion was open, frank, and insightful Covid-19 has changed behavior in financial services – ours and that of the fraudsters. More of us are banking remotely, be that online or via apps, giving criminals a bigger attack […]
There are no precise numbers available but estimates for global financial sector fraud in all its manifestations might, many believe, run into the trillions of dollars when factoring in internal fraud, external fraud and cyber-crime. Digital banking, remote working and Covid-19 have all acted like rocket-fuel to flame up an ever-greater furnace of fraud worldwide. […]
Our software helps banks and telcos detect fraudulent activity related to mobile wallets and ATMs, and has even helped catch the fraudsters red-handed, writes Bernard Rono Mobile wallet fraud is found wherever mobile wallet services are popular. This is a particular problem in Africa, not just for the banks and telcos operating them but for […]
By analyzing the behavior of staff, customer and the transaction itself, banks can spot and stop not only known fraud types but also new frauds, writes Joël Winteregg It takes on average 16 months to detect a fraud perpetrated by a member of staff. The average loss per case is $130,000. More than one-in-five involve […]
Internal fraud casts a long shadow over banks across Africa. With the Covid-19 crisis and home office policies, the situation will not get any better. NetGuardians’ fraud-mitigation software allows banks to shine a light on it, not only spotting and stopping instances of fraud but also acting as a deterrent, WRITE BERNARD RONO AND JONATHAN […]
NetGuardians’ state-of-the-art fraud mitigation solution not only accurately analyzes the risk of every bank transaction but also makes fraud reporting simple, helping banks meet the key fraud requirements of PSD2, writes Sandy Lavorel Banks across Europe have less than a couple of months left to prepare for the second Payment Services Directive (PSD2), which comes […]
