DEFENSESTORM BLOG

Account Holder Fraud Prevention in Banks: Alert Enhancements

Wednesday, October 18th, 2023

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Cyber security risk management solutions from DefenseStorm.

As fraud prevention in banking continues to be crucial in today’s digital landscape, it’s imperative for fraud investigators to utilize efficient tools that empower and support their investigative work.  The current Trigger and Alert views have been strategically modified to enhance the service provided to fraud investigators where they can now see relevant information that is intuitive to their role.

At DefenseStorm, we are committed to providing our clients with the best possible service and technology when it comes to cyber risk management. That’s why we continuously work to improve our platform and enhance our technology so your FI stays proactive and protected against emerging cyber threats. Fraud prevention in banks continues to be crucial in today’s digital landscape and it’s imperative for fraud investigators to utilize efficient tools that empower and support their investigative work.  The current Trigger and Alert views within Account Holder Fraud Prevention have been strategically modified to enhance the service provided to fraud investigators where they can now see relevant information that is intuitive to their role.

What’s NEW in Account Holder Fraud Prevention Alert View

Account Holder Fraud Prevention’s new feature improves the Alert view and will now show a Fraud Investigator when a threat is impacting multiple accounts by highlighting data in common across IP addresses, users, phone numbers, email addresses, and accounts. It also organizes event data to display more relevant information on fraud risks that are better aligned and intuitive to a Fraud Investigator. The new features streamline link analysis, which can be a time-consuming manual exercise for Fraud Investigators. By improving views and flexibility to search for alerts, events, and data that are relevant to them, FIs are able to operate more proactively in their response to fraud alerts and improve the overall the impact of fraud prevention within their organization.

ENHANCEMENTS

  • The new Alert view allows the user to view events with important information grouped at the top and users now have the option to view additional data.
  • Alert view can now show alerts specific to the Trigger of interest and will highlight when an alert has information in common with other accounts across IP addresses, users, phone numbers, email addresses and accounts whether internal or external.
  • The addition of quick links within Alert view allows users to see the Story view or Events module for any information in common with other accounts.
  • Fraud Investigators can now view the most relevant alert data related to an event without leaving the Alert view.
  • Alert view now automatically displays the steps/events in a sequence trigger.

DefenseStorm strives to provide the most efficient technology and services to address the ever-changing threat landscape. As cybercriminals continue to target the financial sector with new and innovative methods, DefenseStorm also evolves its practices, services, technology, and tools to enable fraud prevention in banks and stop cyber threats before money ever leaves accounts.

Adam

Adam Barrett

Sr. Product Manager, Fraud Detection

Adam is the DefenseStorm Fraud Geek with an extreme passion for protecting financial institutions and the people who trust them to provide a safe banking experience. He is currently the Senior Product Manager for DefenseStorm GRID Active Fraud Detection product. With 25 years of experience in banking operations, fraud and risk, you would think he’s seen it all, however, the constantly evolving schemes keep him motivated to stay in the fight.