Cybercrime syndicates were targeting a Spanish bank’s customers with malware designed to compromise and take over their accounts.
Learn how the bank utilized bugFraud to identify and neutralize existing malware as well as zero-day malware threats. The bank also implemented buguroo’s Fraudster Hunter to expose fraudsters operating inside the bank.
Once implemented buguroo was able to detect and stop customer account takeovers from a range of malware as well as take down the cybercrime ring responsible for the attacks.
Criminals were using a network of mule accounts to process funds from fake classified ads. Despite all efforts, detecting fraudulent activity was tough and unsuccessful.
In the following Case Study we explain how this European digital bank was able to identify an entire network of mule accounts, profile and reveal the fraudsters themselves, thanks to our Fraudster Hunter capabilities.
As a result, these fraudsters will no longer be able to attempt to commit fraud there.
Multi-Factor Authentication (MFA)method is not 100% secure, as Fraudsters can steal one of the authentication factors or even manipulate the device with the use of a Remote Access Trojan (RAT). In addition, this method added friction that turned a consumer´s experience into a poor and clunky one.
Discover how one of the largest banks in Colombia implemented buguroo to design am adaptative authentication depending on a user's risk profile, reducing fraud and enhancing customer experience.
In 2019 buguroo exceeded the figure of 50 million protected users around the world. Our innovative solution and effective approach to fight banking fraud based on advanced technologies of Deep learning configures a unique solution that wins relevant customers from day to day.
In the following document we share the experience and results obtained by one of the Top10 Spanish bank groups after deploying buguroo bugFraud solution to protect their online banking channels.