Financial fraud is a serious risk with damaging consequences if not properly addressed. Year on year this risk becomes more complex with organized gangs of criminals using increasingly sophisticated techniques to compromise financial transactions and steal money. These attacks consist of multiple stages. Some of these stages, such as malware infections and social engineering scams take place on the client side and some – such as fraudulent transactions and unauthorized withdrawal of funds – on the service side e.g. within an organization’s infrastructure.
Advanced cyber threats targeting global and national financial institutions are growing in frequency and sophistication. Regulatory and market pressures, regardless of geographic region, further strain Banks’ ability to dedicate the necessary time and resources to properly defend against malicious malware and advanced fraud threats.
With a long-standing focus on the authentication and fraud market, Entrust helps globally trusted FIs fight fraud in real-time with the most comprehensive fraud-monitoring framework that provides The deployment flexibility to monitor transactions across varied applications, user communities and multiple access channels.
It is obvious that due to the complicated nature of these cyber-attacks, addressing such threats demands a comprehensive, multi-layered approach, comprised of high-end protection technologies and unique up-to-date knowledge delivered by recognized security experts.
Until recently it was almost impossible to fully address these risks. The tools to protect customers utilizing online financial services were just not available. Standard banking measures (such as multifactor authentication) or anti-malware solutions are not enough because they do not protect all types of actions which are performed by a user of online financial services. And when it comes to financial transactions, it is of paramount importance to protect each stage of the mobile and online banking journey.
Security Meter solutions is based on technologies from leading Fraud Management vendors with integration with other key solutions like database encryption and multi-factor authentication.