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".