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Security

Best Practice

Fraud Management. The Reply’s approach

Fraud is an intentional deceit perpetrated for one’s own interests, that is to obtain unauthorized benefits (money, properties and so on) and can refer to legal, commercial, fiscal, currency, sport, food and bank related fields.

The term “online fraud” refers to any fraud carried out by using IT tools. For the bank, business, insurance and telecommunication fields, most fraud cases are thefts of identity and mimicking.

Con il termine “frode online” ci si riferisce a qualsiasi tipo di frode svolto con l’utilizzo di strumenti informatici.

The Communication Valley response to online frauds is carried out on two main aspects:

  • anti-phishing to minimize the identity theft risk;
  • transaction monitoring to block fraudulent activities with identity data obtained in an illegal way.

Anti-phishing

Phishing is an online fraud technique which uses different methods to mislead the user and convince him to give personal and sensitive information (user name, password, credit card number and so on).
Communication Valley fights phishing with a series of proprietary tools specialized in the 24x7 support of its SOC (Security Operations Center) specialists.

The solution of Communication Valley includes the following benefits: preventive analysis of domain registrations; detection of phishing attacks 24H; analysis of each accident; response aimed at taking down the phishing network; credential dilution and introduction of bait credentials.

Transaction Monitoring

The transaction monitoring is a powerful tool to:

  • Clearly monitor online activities (both for login and for post-login);
  • Identify high risk activities, signal and recommend appropriate actions;
  • Enable financial institutions to effectively analyze the activities signaled as high risk;

The indicators used by the system and which can increase the risk level during a transaction concern:

  • User profile;
  • IP profile;
  • Device profile.

With a high number of indicators for each profile type, the system defines a risk level to which an action can be associated.