Fraud Prevention Service
What's Fraud Prevention Service?
Fraud Prevention is a Swisscom service built with NetGuardians' unique anti-fraud technology for banks with Avaloq or Finnova core banking systems hosted in Switzerland.
Thanks to the surveillance algorithms, your customers' transactional behaviors and your employees' daily activities are analyzed continuously to prevent banking fraud.
With Fraud Prevention Service:
- Suspicious transactions are blocked in real-time: you are immediately alerted to risk situations.
- You can address human risk and cyber fraud
- You can take advantage of a vast network of knowledge to fight fraud
- You have a flexible solution capable of adapting to your needs
- You purchase a turn-key service delivered by Swiss partners
the service as a whole
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Examples of at-risk situations treated by Fraud Prevention Service algoritms
Behavioral analysis of each customer’s payment traffic (size of transaction, channels, currencies, etc.). The combination of these variables, applied to a risk model, enables you to detect suspicious transfers.
Unusual online banking activity
Behavioral analysis of each customer’s online banking activities (browser type, browser language, geo-localization, beneficiary account, and currency, etc.). Algorithm analysis of these variables enables you to detect infected customers or stolen identities.
Violation of the four-eyes principle
Use of compromised user accounts to validate transactions (e.g. same log-in used at the same time on different workstations), or employee collusion giving access rights to an employee to bypass the four-eyes principle (transaction is validated from the same computer on which the transaction was made).
Modification of sensitive client data
A bank employee modifying sensitive information (postal/email address, phone number, etc.) relating to at-risk customers (dormant accounts, elderly people and held mail accounts).
A bank employee validating transactions or modifying customer
accounts while declared as “on-leave” in the HR systems, over the weekend or outside of normal working hours.
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