With traditional methods in the market relying on static rules, manual controls, or sampling, it takes 18 months on average to detect internal fraud. What is needed is a new technological model that detects and prevents internal fraud before it happens.
Leveraging on 3D Artificial Intelligence (3D AI), NetGuardians’ platform NG|Screener tracks behavior of all employees including front-office/back-office and privileged users (database administrators & IT administrators) as well customers to identify suspicious transactions. Whenever there is a fraudulent transaction, which is out-of-profile, it blocks the transaction and triggers meaningful alerts.
Banks implementing NetGuardians’ AI solution significantly improved internal fraud management by reducing the number of false positives, preventing fraud in a timely manner, and discovering new fraud types.
Acleda Bank Cambodia effectively monitors privileged users, front-office/back-office, and detect employee collusion whereby users adopt an absent colleague’s sign-on, for example.