As self-service banking becomes even more accessible for consumers, it also opens the door to new potential fraud attacks. When juggling many different self-service banking platforms, financial institutions often lack the end-to-end visibility needed to protect these payment environments. This can be very dangerous as fraudsters often take advantage of the lack of visibility and launch front-end attacks, man-in-the-middle attacks and coordinated global attacks.
With vulnerable payment environments susceptible to potential fraud attacks, financial institutions must act swiftly to ensure their survival. INETCO Insight®’s real-time transaction monitoring and data streaming software now makes it easy for financial institutions to detect and defuse fraud attacks without the use of heavy agents, extra traffic loads or code changes.
A case study titled, “Early Detection of Advanced Persistent Threats in the Payments Sector”, discusses how a major financial institution in Africa improved their early warning fraud detection after they were hit with a sophisticated, and highly coordinated ATM fraud attack. This case study not only outlines the challenges the financial institution faced after $19M was withdrawn from 1400 ATMs in one city in under 3 hours, but how they turned to payment solutions expert Stanchion for help in implementing INETCO Insight. Learn more about preventing APT and banking host system attacks.
If you are interested in exploring more on how real-time transaction monitoring and data streaming software can be used to complement your existing fraud detection system, contact an INETCO representative.