Innovation in the Battle Against Scams

Scams are incredibly difficult to prevent and generally result in a lot of false positives that waste time, money, and resources. Consumers deserve better, and ultimately brands want to have more sophisticated ways to gain an advantage in the fight to stop scams in their tracks.

Download Data Sheet

INTRODUCING CELEBRUS FDP SENSE AND TRACE

Sense and Trace allows organizations to closely follow the activity of the mule accounts used by Fraudsters to take the victim’s money. This powerful feature enables organizations to capture granular data and use this information to do the following in real-time:

Capture and persist identities in a 1st party manner, leveraging our unparalled Identity Graph

Profile all digital activity interactions, and inputs at an individual level

Discover compromised identities on your digital channels

Search for other compromised identities

Set alarms when high-risk data is used by visitors

There are ultimately 2 components to Sense and Trace:

1

IDENTITY SEARCH

Traces from compromised identities to their mule accounts and onwards to find other compromised identities

2

TRIP WIRE

Sets an alarm on known mule accounts for when they are next used (for example, adding the mule account as a payee)

USE CASE EXAMPLES

Money Flows Down The Same Paths

Situation

Zak is using stolen identity information and has gained access to Matt's online bank account. Zak adds a mule account as a payee so he can clear the funds from Matt's account.

Problem

Nobody has yet realised that Matt's account is compromised. However, Zak had already used that payee account when he previously moved money out of Alice's account.

Solution

Behavioural biometrics identified Alice's account takeover and flagged the new payee as high-risk data.

When that same payee is subsequently seen on Matt's account an alarm is raised to the bank to signal another account has been compromised.

Agent Provocoteur

Situation

Zak is using stolen identity information and has gained access to Matt's online bank account. Zak adds a mule account as a payee so he can clear the funds from Matt's account.

Problem

Once a fraudster is blocked, they stop using the accounts which were setup to move the money out of the victims' bank accounts. These payee accounts provide reliable links to other accounts which have been compromised and so valuable intelligence is lost.

Solution

Low value money movements from compromised accounts are allowed to proceed so that a wider range of fraudulent activity can be uncovered.

New accounts which have been taken over are uncovered by letting the situation unfold further.

Effective Customer Warning

Situation

Using entity resolution, analytical systems in the bank determine that a payee account is linked to an impersonation scam. The fraudsters are still actively using this account.

Problem

Customers request money transfers to this account and get no feedback that they are being scammed. An effective customer warning would stop fraud earlier and give a better customer experience.

Solution

The bank sends a signal to Celebrus when a scam payee account is detected. Using sense and trace, this payee is tracked in real-time across all digital touchpoints.

Any customer using a scam payee is immediately notified with a personal message and an alarm is sent to the bank.

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