Insider Fraud: Protect with insider threat management

Overview of Bottomline's Fraud and Financial Crime Management Solution

Bottomline's Fraud and Financial Crime Management suite of solutions is an innovative end-to-end enterprise fraud management solution which provides a unique combination of comprehensive data capture combined with cross channel analytics and real-time alerting. This allows organisations to reduce risk, prevent fraud and meet regulatory compliance requirements through a highly extensible and flexible platform that delivers unparalleled fraud protection.

The fraud platform is designed in a modular way that enables frictionless deployment of new functionality in order to meet varying use cases.

Secure Payments

Bottomline’s Secure Payments solution protects payments across a variety of applications, channels, and payment types. Whether it is one business-critical application, channel and payment type, or a variety, our highly flexible and extensible platform delivers proven protection against payment fraud through advanced analytics of user behavior and transaction flows layered with intelligent machine learning, reducing risk for some of the largest corporations and financial institutions in the world.

Compliance

Bottomline’s Compliance solution provides corporations and financial institutions with a powerful end-to-end offering to accelerate the speed to achieve regulatory compliance requirements while decreasing complexity. Whether the need is around modernising an anti-money laundering program, achieving more reliable sanctions screening, improving payments monitoring, highlighting settlement exposure, or automating suspicious activity reporting to meet regulatory requirements, Bottomline’s Compliance solution offers a modular approach to reducing the cost of compliance and increasing productivity.

Enterprise Case Manager

Bottomline’s Enterprise Case Manager solution is designed to simplify and streamline the risk management and fraud detection process, along with the various regulatory processes that accompany these efforts. The solution integrates across multiple systems and enables users to track all alerts and cases regardless of their source application. When violations are found, the system helps to automate the filing of Suspicious Activity Reports (SARs) to government agencies.

Insider and Employee Fraud

Bottomline’s Insider and Employee Fraud solution quickly identifies and stops anomalous user activity through intelligent machine learning, rules-based detection, and years of experience protecting some of the largest corporations and financial institutions in the world. The solution captures all user behavior in real-time across all vital systems and provides protection for both external threats in which user credentials have been compromised and internal threats from authorized users.

Introduction to Insider and Employee Fraud

The Insider and Employee Fraud product is a pre-packaged solution suite designed for financial institutions. It is specifically designed to identify and track suspicious employee activity by monitoring each action a user makes and analyzing those actions for unusual behavior and key risk indicators.

When an employee action or pattern of actions are deemed by the analytics as potentially fraudulent, an alert is created for compliance officers to review and investigate. These analytics take a variety of different factors and data points into account and because the system monitors real-time actions, as well as historical data, it can capture a variety of different fraud schemes while reducing false positives.

Evaluating User Behaviour for Indicators of Fraud and Risk 

As the system monitors employee behavior, it builds an understanding of what is normal for each specific employee and how their behavior compares to that of their peers. This helps to surface suspicious activity without introducing unnecessary false positives. For example, if one employee is designated to only work with VIP accounts you would not want alerts going off every time that employee accessed a VIP account. Instead the system would learn that this is a false positive and add that to its understanding of what is normal for that user. Similarly, this process can be used to identify suspicious behavior. For instance, if a user normally looks at a few records a day but then begins viewing a significantly higher volume of records this could be flagged as suspicious activity for a compliance officer to investigate.

The solution’s analytics have been refined over years of experience working to prevent insider and employee fraud across multiple instances. As a result, the solution is able to identify over 100 different scenarios that have been proven to indicate insider fraud activities. Bottomline is able to work with customers to tune the analytics to help focus on the scenarios that are deemed most important with each implementation.

All alerts generated by the system are displayed in the Investigation Center where they can be tracked and managed by compliance officers. Alerts contain critical data such as the details of the scenario that triggered the alert. The alert also provides additional information such as previously related alerts and other historical data that could be useful for the investigator. This combination of information provides all the relevant information required to begin the investigation process and quickly come to a resolution.

Download the brochure to discover how Bottomline can help you protect against insider and employee fraud.

With 78% of insider fraud and data theft carried out by authorised users employing simple, legitimate commands to manipulate systems and data.