Following a major data security breach, one of the largest financial services groups in Africa asked Stanchion for help in architecting and implementing a first line of defence against fraud at ATMs. It took us just six weeks to roll out a solution that protects the group through early detection of irregular transactions that evade industry standard transaction authentication and fraud detection methods.
TODAY’S THREATS DEMAND A MORE PROACTIVE APPROACH TO PAYMENTS SECURITY
Any security breach in a financial institution’s payments environment—no matter the scale—represents a massive business risk. Proactive monitoring and management of financial transactions significantly reduces this risk.
The fraud and information security risks facing the financial services industry are constantly growing in scale and sophistication as global organised criminal syndicates focus their considerable resources on the lucrative new opportunities that cybercrime offers. This breed of cybercriminal is determined and professional, using a blend of custom malware, card skimming, social engineering and coordinated attacks to bypass the traditional defences in payments systems.