Solutions

Finance

Silver Tail Systems provide the technology to help businesses and financial services deal with their exposure to online threats. Regulations make banks liable for all fraud occurring using their services. This creates an extra need for visibility into web traffic to monitor the traffic going to the third party vendors used. Such vendors can be providers of services such as bill pay, ACH transfers and Re-order checks or for the opening of accounts. Criminals look at the multitude opportunity of online banking and take advantage of every possible weakness in a website.

Attacks currently seen in banks are account theft where bad actors transfer money out of a stolen account, new account fraud, money laundering where criminals transfer money into and out of accounts to hide the source and destination of the money and architecture probing. When fraudsters uses sites to guess ATM pins, this leaves the banks with a hard loss as they must reimburse the customer loss and a soft loss of customer decrease activity or change of bank provider as a result of lack of trust to the bank.

Other types of attacks seen in this sector is gaming of incentive programs where the adversary take advantage of the bank offering money as a reward for referring friends or new accounts, bad actors may register hundreds of accounts. Other threats are pump and dump stock scams and filing false insurance claims. Another threat is fraudsters scraping information about customers and scraping check-images to steal money. The number of attacks and the sophistication of the attacks are fast increasing and constantly morphing.

Business logic abuse attacks like the ones above and many others are under control when Silver Tail Systems solutions are implemented and deployed. Logic abuse attacks is the next big thing in online fraud attacks because it is difficult to detect and can result in a substantial return for the adversary.

Businesses and financial institutions face several challenges in the rapid evolving threat landscape. Online fraud protection against websites needs to go beyond the time of login. Businesses and financial institutions have the need for efficient and effective solutions to detect, investigate and mitigate the attacks to their web pages. At the same time there is an important need to enhance the experienced customer experience.

Silver Tail Systems provide businesses and financial institutions the tools they need to monitor their own and third party traffic in real-time. Silver Tail Systems technology monitors all web traffic and detects what is normal website behavior and what behavior is looking anomalous according to user statistics constantly updated by the hour. This real-time monitoring helps combating fraud as it emerges. Receiving alerts about suspicious web traffic lets the website administrator quickly identify the type of threat occurring and investigate the attempted attack. Once an attack is identified easy rules will divert the bad actors in real-time, protecting the website from being compromised. The Silver Tail Systems tools does not affect the legitimate users in any other way than protecting them.

Silver Tail Systems’ solutions give business and financial institutions visibility and control, combatting fraud attacks to their websites.