From Fraud Intelligence

How Can DMARC Compass Help You Fight Fraud?

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DMARCToday, we announced a new product offering in our fraud intelligence family of products called DMARC CompassTM. If you are not yet familiar with the term, Domain-based Message Authentication, Reporting & Conformance or DMARC, is a technical specification and emerging standard designed to help reduce email fraud. You can read some earlier blog entries and announcements that we have made here, here and here.

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Tennessee Electric Company Inc. vs. TriSummit Bank – A Cautionary Tale

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Tennessee LawsuitThe latest in a recent string of lawsuits between businesses and their commercial banks is the case of Tennnessee Electric Company vs. TriSummit Bank.  In the complaint, Tennessee Electric alleges in six counts, from gross negligence to fraud, that TriSummit didn’t honor its agreement to protect the security of ACH initiated payroll transactions. Read more

Webinar: FFIEC Announces Cybersecurity Assessments. Is Your Bank Prepared?

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dsi-webinarCybersecurity risks remain the same for all financial institutions, regardless of size or resources. The FFIEC recently announced that examiners will be conducting "state of cybersecurity assessments" this summer, specifically targeting community banks. Examiners want to ensure that cybersecurity is engrained into the culture of all financial institutions, and that management is well aware of the risks. This webinar will provide cutting-edge insights into the latest fraud trends, and teach you how to strengthen your fraud program in a way that not only meets, but surpasses compliance.

What You Will Learn:

  • Current fraud trends impacting community banks and credit unions, citing specific examples.
  • Beyond financial loss, what are hard and soft costs incurred after a fraud incident?
  • Available anti-fraud technologies to combat fraud and satisfy FFIEC compliance.

Register free now!

DetectTA, Our Anomaly Detection Solution, Gets an Upgrade & Includes Non-Transactional Capabilities

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DetectTA,-Our-Anomaly-Detection-SolutionAt Easy Solutions, we spend a lot of time anticipating fraud trends so that we can develop solutions quickly and ensure that our customers are always ahead of the game when it comes to fraud protection. This week, we added and enhanced several features to our anomaly detection solution, DetectTA, which now has the ability to monitor a wider range of transactions and provides increased flexibility in crafting rules and alerts. DetectTA’s extended capabilities result in an anomaly detection solution that’s even easier to use and much more powerful.

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The Most Common Mistakes I See in Fraud Prevention Programs

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Top Mistakes-EasySolOver the last decade, I have spent the majority of my time focused on strategic planning for fraud prevention and fraud program enhancements. During this time, I have met and spoken with countless financial and law enforcement professionals who are facing the challenges of ever-changing fraud environments. Due to the nature of fraud, my programs had to be ever-changing as well. I have taken the time to identify the most reoccurring themes I have seen throughout my travels and wanted to share them with you.

How to Leverage Brand Intelligence for Fraud Management

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Social media brand intelligenceOne of the hardest responsibilities to tackle when it comes to fraud management is identifying and anticipating emergent attacks that seek to exploit your security controls. When I was in charge of rooting out fraud at a well-known financial services company, I spent a lot of time and money designing and deploying fraud solutions, as well as establishing proactive mitigation efforts to help identify threats in their planning stages. I know what it’s like to be on the client side of the fraud protection fence, regularly evaluating tools to see which ones are effective and which are a waste of time and money.

Tackling Today’s Evolving Fraud

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ImageIt almost seems like a day doesn’t go by without someone reporting the discovery of hundreds of millions of pieces of user-specific information related to credit and debit cards, e-mail addresses, or log-in credentials being sold on underground markets[1]. If these numbers are true, the banks are paying the price for these leaks in a big way.

Easy Solutions’ DetectTA Has Been Upgraded

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One of the biggest challenges when it comes to transaction anomaly detection is managing the large amount of alerts and cases that these solutions tend to generate. Since every alert is a possible case of fraud, efficient management is crucial for following up on cases in a timely manner before any attacks can be perpetrated.

Satisfy FFIEC Guidance for Social Media with Brand Intelligence by Easy Solutions

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FFIEC Guidance published on December 11, 2013 and effective immediately, addresses mounting risk factors facing financial institutions related to social media. The FFIEC states that all financial institutions should effectively assess and manage risks associated with all activities conducted via social media platforms. These risks include compliance risk, legal risk, reputation risk, and operational risk

Easy Solutions’ Detect Monitoring Service Has Been Upgraded

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As the number of electronic attacks grows daily, the Total Fraud Protection® team is pleased to announce the release of the newest version of Detect Monitoring Service (DMS), our proactive anti-fraud monitoring solution. DMS has a completely redesigned dashboard, with a number of interactive charts and graphs that enable users to more efficiently analyze and break down all information related to security incidents, with tickets and alerts rendered graphically in real time.

New features in the redesigned dashboard include: