Fraud Risk Assessment
Service for the analysis of AS-IS and definition of improvement plans
FRAUD MANAGEMENT: THE CHALLENGE
The Digital Transformation, and the ever-increasing number of bank, financial and digital payment services that banks and companies make available for their Clients, translates into a significant increase in the threat of online fraud.
A financial institution that wants to offer its Clients an online banking service not only has to face the threat of fraud that crosses this specific business channel, but it must also be concerned about correlating activities that the Client carries out on different channels: a single point of monitoring is necessary to prevent IT criminals and fraudsters, who habitually try to discover weak points in the bank’s defenses, from obtaining information and data to launch fraudulent activity and transactions aimed at monetization.
Prevention of online fraud requires a stratified approach based on risk that doesn’t rely on a single instrument or tactic when there are multiple threats to block: Phishing & Banking Malware, Identity Theft & Account Takeover, Device Compromise, Payment Fraud, Merchant & Cards Fraud, and many others.
ALFA GROUP’S RESPONSE
To respond to the Fraud Management challenge, Alfa Group has developed a series of competencies and integrated technological solutions which in the last 10 years have produced optimal results in reducing fraud attempts and false positives, in addition to identifying new fraudulent behavior for some of the most important financial institutions in Italy.
Continual support in neutralizing fraud has enabled Alfa Group to introduce the concepts of Fraud Analytics based on AI and Machine Learning among its integrated solutions.
Alfa Group’s competencies and technological solutions in the area of Fraud Management include:
Fraud Prevention
Integrated solution to neutralize Phishing, Smishing and Brand Infringement
Fraud Intelligence
Integrated solution for the collection of Mule Accounts and compromised Cards
Fraud Detection
Competencies using technologies to detect suspicious transactions in real time
Fraud Investigation
Integrated solution for the analysis and management of suspicious cases
Fraud Reporting
Solution for the production of reports aimed at complying with PSD2 legislation
With Alfa Group’s approach, all these competencies and technological solutions can be integrated in a single foundation, which is responsible for managing all the specific information, carrying out analytical activities and orchestrating them in an optimal way to provide antifraud analysts with a single instrument, which is able to address online fraud at 360°.
SOLUTIONS&TECHNOLOGIES
