Internal fraud
Traditional approach
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.
NetGuardians approach
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.
Benefits
We can detect fraud more quickly and stop it before it happens. It means we’ve got a lower risk profile, compliance is easier and fraud is down.
Use cases
Employee collusionInternal controls bypass by client advisorsInternal-external collusionFour-eyes breachAbuse from privileged users / IT changes at the back endAnd others...Customer success stories
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.
