NetGuardians Joins Movement to Shine a Spotlight on Fraud

NetGuardians will be participating in International Fraud Awareness Week, Nov. 15-21, 2015, as official supporters to promote anti-fraud awareness and education. The company has teamed up with Temenos to prepare a special e-book for the fraud week campaign: “Bankers’ A-Z of Modern Fraud”. This comprehensive e-book will serve as a guide for financial institutions worldwide and cover the latest aspects around fraud.  

“Fraud has no borders or boundaries. It is a growing concern for financial institutions around the world. Therefore, with our partner Temenos, we created an educative document to offer bankers a global fraud guide with the latest insights on the topic. With this e-book, we believe that the bankers will be on the right track beating fraud” states Joel Winteregg, CEO and founder of NetGuardians.

The e-book covers A to Z of fraud including figures and numbers, motivations for committing fraud, different types of fraud, famous examples, latest technologies in fraud prevention and detection, fraud in new channels such as mobile-banking, etc. It will be available for download for free on the company website

The seriousness of the global fraud problem is the reason NetGuardians has decided to join the movement. Fraud costs organizations worldwide an estimated 5 percent of their annual revenues. If applied to the 2014 estimated Gross World Product, this translates to a potential projected global fraud loss of approximately $3.9 trillion, according to a study conducted by the Association of Certified Fraud Examiners (ACFE). Particularly, banking fraud cost an estimated $67 billion in 2014. 70% of this was internal and most remains undetected.

Netguardians is a Swiss-based fintech firm whose award-winning software enables financial institutions prevent fraud and facilitate regulatory compliance. Their innovative methods correlate transactional data and human behaviour across channels and bank application layers. Today, more than 30 financial institutions use NetGuardians for internal fraud detection, including numerous Temenos core banking customers.

The company plays an active role raising fraud awareness and enlightening financial institutions and media about latest cutting-edge technologies mitigating fraud. NetGuardians has recently organized a workshop in Accra, Ghana. They give presentations at local and international events. These include FinTech50 in London, FinTech Fusion in Geneva, IIA Data Analytics in Zurich in the last month; Africa CoreBank Summit in Nairobi and Financial Crime 360 in Singapore in November 2015.

For more information about increasing awareness and reducing the risk of fraud during International Fraud Awareness Week, visit