02 Easy Solutions
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The document discusses Easy Solutions' proactive approach to fraud detection through addressing the three stages of fraud: planning and targeting, setup and launch, and cashing. It presents Easy Solutions as providing a complete solution to fraud prevention across all channels by integrating intelligence and action. The document then demonstrates how Easy Solutions can detect and prevent fraudulent activities at each stage of the fraud cycle in real-time through monitoring, blocking threats, and implementing multi-factor authentication and anomaly detection.
02 Easy Solutions
- 1. by: Easysolver Easy Solutions Demonstration – Proactive approach to Fraud Detection
- 2. >Agenda >Introduction >Proactive approach to Fraud Detection >3 Stages of Fraud >Proactive vs Reactive >Demonstration >Fraud Stage 1 >Fraud Stage 2 >Fraud Stage 3
- 3. >Introduction –Easy Solutions Easy Solutions >Venture-backed, Medina Capital (May, 2013) >US: Miami, Atlanta >International: London, Bogota >200+ clients (financial services, travel, telecom) >50M+ users protected Total Fraud Protection >End-to-end Electronic Fraud Prevention >Integration of Intelligence and Action >Complete Solution / Reference Architecture >Combined strengths Visionary - Gartner Web Fraud MQ
- 4. >Gartner Web Fraud MQ ›“Easy Solutions has a full range of fraud prevention and detection products.” ›“…one-stop shop for most related fraud prevention services”. ›“Easy Solutions’ …solutions can be and have been used across multiple channels, enabling organizations to stop cross-channel fraud”.
- 5. >What is Fraud? >Account Takeover–Malware, Phishing, Social Engineering >New Account –Malware, Phishing, Social Engineering, account opening process gaps (KYC/CIP) >True-person / Mule -Malware, Phishing, Social Engineering, account opening process gaps (KYC/CIP) All channel fraud happens in one of these fraud types *Internal fraud is also a concern, but non-customer facing
- 7. >Agenda >Introduction >Proactive approach to Fraud Detection >3 Stages of Fraud >Proactive vs Reactive >Demonstration >Fraud Stage 1 >Fraud Stage 2 >Fraud Stage 3
- 8. >3 Stages of Fraud Planning and Targeting Setup and Launch Cashing
- 9. >Stage 1 -Planning and Targeting Setup and Launch Cashing Intelligence Gathering and Targeting; Web presence; Brand details; Social; Mobile Apps; Threat Intelligence
- 10. >Stage 2 –Setup and Launch Planning and Targeting Cashing Setup and Launch Account Takeover; Phishing/Pharming attacks; Malware Client Protection Analytics Takedown
- 11. >Stage 3 –Cashing Planning and Targeting Setup and Launch Cashing Realisation; ATM; Debit; ACH/Wire Anomaly Detection Multi Factor Authentication
- 12. >Total Fraud Protection Planning and Targeting Setup and Launch Cashing Anomaly Detection Multi Factor Authentication Threat Intelligence Client Protection Analytics Takedown
- 13. >Proactive vs. Reactive Detection Detect Monitoring Service
- 15. >Scraping Attack Sequence DMS Script on banks website DMS Script copied when the website was scrapped Phishing site being created from files scrapped Formatting site for web deployment / testing forms and fields Deployed phishing site at host
- 16. >Proactive Detection Preventing Attacks
- 17. >Agenda >Introduction >Proactive approach to Fraud Detection >3 Stages of Fraud >Proactive vs Reactive >Demonstration >Fraud Stage 1 >Fraud Stage 2 >Fraud Stage 3
- 18. >Stage 1 -Planning and Targeting Planning and Targeting Setup and Launch Cashing Intelligence Gathering and Targeting; Web presence; Brand details; Social; Mobile Apps
- 19. >Fraudster’s Main Activities Stage 1: The fraudster is: >Accessing genuine websites/apps >Taking local copies of genuine websites/apps >Creating modified versions of genuine websites/apps >Determining customers and end users to target
- 20. >Response Stage 1: To cover the Planning and Targeting stage of the fraud cycle: >Monitor for suspicious and malicious activity >Process activity >Manage the event >Pro-Actively Shut Down Threats DEMO
- 21. >Stage 2 –Setup and Launch Planning and Targeting Cashing Setup and Launch Account Takeover; Phishing/Pharming attacks; Malware
- 22. >Fraudster’s Main Activities Stage 2: The fraudster is now launching the attacks: >Launching Malware attack >Deploying modified versions of genuine websites/apps >Pharming -Host File/DNS Attack >Selling acquired Credit/Debit Card details
- 23. >Response Stage 2: To cover the attack stage of the fraud cycle: >Provide a safe browsing environment >Scan customer devices for threats >Block the threat >Protected Sites >Provide feedback to Threat Intelligence Element >Threat takedown for device indentifiedattacks >Collaborative protection DEMO
- 24. >Stage 3 –Cashing Planning and Targeting Setup and Launch Cashing Realisationof attack; ATM; Debit; ACH/Wire
- 25. >Fraudster’s Main Activities Stage 3: The fraudster has acquired information to take cash from an account via: >ATM >Debit >Purchase >Top Up >Transfer >Account transfer (Wire/ACH) >P2P Payment
- 26. >Response Stage 3: To cover the cashing stage of the fraud cycle: >Authentication >Implement appropriate 2ndfactor authentication >Provide Step Up, Risk Based, Authentication >Anomaly Detection >Detect Unusual Account Behaviour >Scores the Risk in Real Time >Rules >Heuristic Engine >Case Management DEMO
- 27. Thank You