buguroo launches a pioneer functionality within its bugFraud 4.0 solution, aimed to identify Fraudsters and discover how they behave and interrelate with legitimate users in online banking channels, to always stay one step ahead of fraud.
This functionality has been conceived to increase and reinforce the already proved benefits of the bugFraud solution, in the fight against online fraud. Thanks to the creation of a unique profile per user, with behavioral biometric and its environment information, Fraudster Hunter is able to interrelate, through a map of graphs, users, devices, networks and sessions involved in a fraud context. This allows to obtain information about the Fraudsters presence in the online channels and hidden behind different mask, unveil complex fraud scenarios and predict future fraud campaigns.
"Online fraud attacks are continuously evolving and becoming more sophisticated in their attempt to bypass anti-fraud solutions. Traditional fraud prevention technologies are focused on identifying the attack itself are proving ineffective against this threat; the solution also requires fraudster identification to check fraud at its roots" has indicated Jose Carlos Corrales, CTO.
Likewise, Pablo de la Riva, CEO & Founder, said: "This new functionality is a great opportunity for buguroo, as it allows us to stay ahead of innovation in the fight against online fraud, adding to our solution an extra capacity that positions us ahead of our competitors in terms of fraud detection - as we detect the greatest number of online fraud use cases on the market - and precision in the biometric user profiles we create for each user".
What benefits will it bring to the security of your bank?
Reduce investigation time and digital forensic analysis
Through out a visual graph mapping of users, devices, networks and sessions involved in a fraud context, Fraudster Hunter allows bank analyst to gain intelligence about the "modus operandi" of fraudsters, revealing complex fraud scenarios and predicting future fraud campaigns.
Discover and unveil fraud relations
Every fraudster follows a pattern to commit fraud. Connect the dots with Fraudster Hunter, understand how your fraudsters behave, how they interrelate with your legitimate users and maximize your visibility to always stay one step ahead of fraud. Pinpoint and track potential fraudster and their collaborators hidden among legitimate users.
Reduce fraudster-controlled account
Fraudster Hunter creates a unique "cyberprofile" per user, a digital DNA built over thousands of personal behavioral patterns like user´s biometric gestures, device profiling, geo-behavior, malware history among others. A unique profile with more than 99,2% of accuracy to unmask the real persona behind the fraudster.
Look and detect the presence of known fraudsters in your bank to proactively make decisions and take the proper actions in real-time to keep out the fraudster communities form your online channels.