Everyone knows that hackers and fraudsters break into people’s bank accounts. What they don’t know is that the majority of attackers steal information on their first attack instead of money so most people don’t even know when someone has been in their account. That is unless their financial institution has behavioral analytics software from Guardian Analytics.
FTSI recently hosted a webinar by Lorinda Garms from Guardian Analytics who explained how their GA’s proprietary software tracks customers’ online account access over 21 different factors (such as location of log in, date, and transaction type) to determine if there is any strange activity on the account.
“60% of Online Fraud Attacks Steal Information First. Not Money.”
Lorinda explained how the dynamic and evolving nature of online attacks makes it counterproductive to watch for a certain type of attack when you could instead detect strange activity based on a user’s behavioral patterns. Using “Fraud Mapping” technology, Guardian Analytics does just that and is able to catch a wide array of attacks including insider threats.