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Fraud Department

The unspoken heroes in the fight against fraud.

The role of Fraud against evolving digital threats.

As leaders of the war on fraud in the financial institution, staying abreast of evolving fraud risks that threaten the organization and its clients is essential. The primary task is to optimize the team’s effectiveness and the efficiency of the anti-fraud tools at their disposal, ensuring the utmost protection for your customers.

The fraud department is particularly challenged due to the ever-changing nature of financial fraud, especially with the increase in digital transactions. Keeping pace with new types of fraud requires constant vigilance. Balancing strong security measures with a customer-friendly experience is a delicate task. Overly aggressive fraud detection can mistakenly flag legitimate activities, inconveniencing customers and possibly damaging their trust in the institution.

Furthermore, the fraud team is tasked with managing resources, training, and coordinating with other departments. In a setting where fraud prevention is often viewed as a cost rather than an investment, justifying expenditures with tangible returns becomes a crucial part of your role. These complexities make the team both demanding and vital for maintaining the security and integrity of the financial institution.

How ThreatMark supports Fraud teams.

Remote Access Attacks

Legacy fraud prevention measures have limited effectiveness when it comes to detecting remote access attacks. In situations where a session is controlled remotely by fraudsters, the bank’s systems may identify the device as trusted based on its fingerprint, which may not show any signs of malware and may appear to have the correct IP and geo-location.


Mobile Phone Call Active

Scams and social engineering exploit the weakest link in the security chain, and that is the customer. Scammers use coercion to manipulate the victim into doing something against their best interest, including moving money. One technique scammers use is calling the victim on their mobile device and talk them through the money movement process. An active call during a banking session can be an indicator of a scam in progress.

Login Biometry Anomaly

The keystroke dynamics observed during the login process differ from the previously recorded ones in this client’s history. Such a variance could imply that the account is being accessed by a different user, possibly another legitimate user or someone with access to the credentials. Alternatively, it might signal a malicious scenario where an attacker has illicitly obtained the credentials and is attempting unauthorized access to the victim’s account.


Strong & Invisible Authentication

Financial institutions face the challenge of balancing secure authentication with customer experience. The use of outdated authentication methods results in increased friction without necessarily improving security.

Traditional fraud prevention tools are no longer enough.

Speak with a ThreatMark Fraud Fighter to find out more about our comprehensive approach to fraud disruption.