Transaction Observability

Data Lineage Monitoring and Integrity Surveillance

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Shielding Financial Institutions from Insider Fraud:
The Urgent Need for Stronger Defenses

Insider fraud is a growing threat to the financial services industry, compromising data security, consumer trust and brand integrity. The ACFE estimates that organisations worldwide, across all sectors, lose an average of 5% of annual revenue to fraud, with 80% of these cases involving some form of employee collusion (source: ACFE Report 2024). Collusion enables exploitation of system vulnerabilities, bypassing controls, and concealing fraud, increasing financial losses and complicating detection.

For example, a recent case saw a bank employee alter payment details to divert funds into personal accounts, emphasizing the need for stronger anti-fraud measures.

By implementing robust fraud detection and prevention strategies, financial institutions can better protect their assets, maintain consumer trust and uphold their brand’s integrity.

Financial Institutions can better shield themselves from Insider Fraud by implementing robust fraud detection and prevention strategies.

The Transaction Data Platform ensures the integrity of payment flows

The integrity of the payment flows can be ensured by tracking the entire lifecycle of a payment across multiple systems and capturing key payment attributes at each interception point. This capability enables financial institutions to detect unauthorised changes in critical payment attributes, investigate anomalies and mitigate fraud risks.

The Transaction Track & Trace solution offers this end-to-end payment lifecycle tracking.

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Benefits

Vyntra strengthens fraud detection and operational integrity through robust data lineage checks and integrity surveillance across the entire payment lifecycle. By identifying unauthorized modifications to critical transaction attributes, the platform helps detect potential internal fraud or procedural deviations.

This proactive approach significantly reduces both fraud risk and operational vulnerabilities.

End-to-End Data Lineage Monitoring

Integrity Surveillance

Detection of Collusion Fraud

Complementary to Compliance Engines

The Result

The Transaction Track & Trace enhances fraud detection and operational integrity by providing comprehensive data lineage monitoring and integrity surveillance.

It tracks the entire payment lifecycle, ensuring that any modifications to critical payment data are properly authorised and compliant with the 4-eyes principle. This allows for the detection of collusion fraud and other unauthorised changes that might slip through traditional compliance engines.

By offering end-to-end tracking, Vyntra compliments existing compliance tools, providing a more thorough approach to fraud prevention. Chief Security Officers, compliance officers, and internal auditors benefit from this robust monitoring, ensuring that payment processes remain secure and tamper-proof.