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How to Detect Wire Fraud with Machine Learning and Behavioral Analytics

This webinar is part one of the Wire Webinar Series. We will be discussing how you can leverage Guardian Analytics behavior-based, real-time wire fraud detection solution to monitor all activities and transactions for each account holder allowing you to build a profile of each user’s typical behavior. Tracked activities include hundreds of elements from payment amounts, wire originators and recipients, plus online login, session duration, sequence of activities during each session.
Recorded Apr 23 2018 34 mins
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Presented by
Eric Tran-Le, VP, Product Management, Guardian Analytics
Presentation preview: How to Detect Wire Fraud with Machine Learning and Behavioral Analytics

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  • Fraud Insights: Digital Banking During and Post COVID-19 Recorded: May 20 2020 60 mins
    Debbie Lopez, Director of FraudDESK Operations & Strategic Accounts; Eric Tran-Le, Co-CEO & VP of Product Management
    33% of retail banking customers plan to increase their use of online and mobile banking services during - and post - COVID-19. In a recent MasterCard survey, 50% of the respondents are concerned about the cleanliness of signature touchpads, ATMs and other devices. This pandemic has driven a surge in digital banking, along with a surge in account takeover fraud. 89% of banks’ digital fraud losses are initiated with account takeover.

    In this webinar, Guardian Analytics will share real-time data on:

    - Digital Banking & Wire Fraud, pre COVID-19.
    - Contactless & Fraud outlook, post-COVID-19.
    - Why the need for Friction-right capabilities?
  • SBA PPP Loans and Real-time KYC/CDD Recorded: May 5 2020 57 mins
    Eric Tran-Le, Co-CEO and VP of Product Management, Guardian Analytics; Mark Stetler, CEO, Regsmart
    As the $310 billion expansion of the Paycheck Protection Program (PPP) is now approved by both the House and Senate, this second round of loans will likely be made available within the next few days. Financial institutions still have to comply with federal rules intended to prevent funding terrorists or money launderers, known as KYC, or ”Know Your Customer” rules.

    In this webinar:
    - RegSmart will share an optimal KYC SBA PPP questionnaire and how to best de-risk borrowers at onboarding & ongoing stages

    - Guardian Analytics will showcase how you can go live rapidly using a holistic Flexible KYC & real-time CDD with no hardware, software requirements
  • Special Edition: Fraud Insights - COVID-19 Attacks Recorded: Apr 9 2020 63 mins
    John Olson, Debbie Lopez, and Eric Tran-Le, Guardian Analytics
    Our FraudDESK Team is seeing a significant uptick in fraud attacks due to the COVID-19 pandemic. With financial institutions’ employees working from home communicating and sharing sensitive banking information online with their customers and amongst themselves, fraudsters are exploiting vulnerabilities to compromise accounts and perform illicit money movements.

    On this webinar, we want to share with you in real time:
    - What are the surge in conventional & new attacks that we are seeing now?
    - What are the changes in account holder/user behaviors that you need to detect?
    - What type of real-time intervention policies to create?
    - What are security tips for the “work from home” enterprise?

    Presented by: John Olson, VP, Cloud Operations and Security; Debbie Lopez, Director of FraudDesk Operations & Strategic Accounts; Eric Tran-Le, Co-CEO & VP of Product Management, Guardian Analytics
  • The State of ACH Fraud – Unique Insights from Guardian Analytics Recorded: Mar 11 2020 40 mins
    Debbie Lopez, Director of FraudDESK Operations & Strategic Accounts; Eric Tran-Le, Co-CEO & VP of Product Management
    ACH fraud rose significantly in 2018 with ACH credit fraud jumping to 20% and debit fraud increasing to 33%, according to the 2019 AFP Payments Fraud and Control Survey. The 2018 Federal Reserve Payment Study states that ACH fraud payments equate to 8 cents for every $10,000 in transactions i.e. $800K for $100B in ACH transactions.

    - Learn how to estimate the ACH fraud value

    - Benchmark yourself against your banking peers to compare if you have stopped as much ACH fraud as they have

    - Learn how Guardian Analytics detects and prevents the most recent ACH Fraud schemes

    The latest ACH fraud attacks combine known exploits such as email compromise with new exploits such as synthetic identity altering the ACH batch events. By monitoring end-to-end from login to batch transaction patterns with machine learning & behavioral analytics, Guardian Analytics is uniquely positioned to protect billions of ACH transactions in real-time.

    Join this session to learn how to identify, measure and thwart your potential ACH fraud.
  • Detecting and Reporting Crypto Transactions Recorded: Feb 11 2020 40 mins
    Matthew Lau, CAMS, Product Manager, Guardian Analytics; Stephen Ryan, COO & Founder, CipherTrace
    Detecting and reporting crypto transactions is an ongoing challenge to financial institutions because current legacy risk tools don’t have the ability to accurately identify crypto entities and their payment transactions.

    Guardian Analytics’ modern AML case management and CipherTrace’s Crypto Risk Intelligence together combine leading-edge technologies to:

    - Detect all the crypto transactions passing through your financial institution
    - Alert and generate cases on suspicious crypto transactions
    - Report on all the suspicious crypto transactions to FinCEN

    This webinar is intended for:
    - BSA/AML Officers and Managers
    - Chief Risk Officers
    - Risk Managers
    - Compliance Officers and Managers
    - Due Diligence Managers
    - FIU Managers
    - OFAC Managers
  • Detecting and Reporting on Marijuana/Cannabis Related Businesses Recorded: Dec 12 2019 46 mins
    Matthew Lau, CAMS, Product Manager, Guardian Analytics, Mark Stetler, CEO, RegSmart
    Financial Institutions willing to take the risk of banking marijuana-related businesses need to implement stringent KYC and restrictions on types of accounts and transactions used. Experts from RegSmart and Guardian Analytics will demonstrate this process using configurable transaction monitoring rules with key word list to identify marijuana related transactions and detect marijuana related businesses. Leveraging prefilled SAR forms, users can quickly file SARs to FinCEN through a VPN, automating your risk assessment update, while generating a report for your board of directors with Guardian Analytics AML Evidence Lake™ integration with RegSmart.
  • Practical Use Cases of Behavioral Biometrics in Banking Recorded: Dec 4 2019 57 mins
    Eric Tran-Le and Sayalee Pawar, Guardian Analytics, Ayelet Biger-Levin, BioCatch
    Behavioral biometrics has been touted as driving a “silent revolution” in authentication, having the potential to restructure the authentication landscape and be the glue that connects the fraud prevention space and the identity management space. With so many possibilities and use cases for this technology, banks and enterprises of all sizes often are overwhelmed with how to incorporate this technology into their technology stack and what applications it is best suited for. Join experts from BioCatch and Guardian Analytics for a live webinar as we explore best practices and how leading financial institutions today are using behavioral biometrics to prevent new account fraud and detect a host of cyberattacks, including highly sophisticated social engineering schemes.

    Attend this webinar and understand how behavioral biometrics are used to:
    • Detect suspicious user identity on mobile devices
    • Enable frictionless and frictionright authentication experience
    • Complement other technologies to score the likelihood of payments fraud
  • The Makings of an Effective Enterprise Fraud Management Solution Recorded: Nov 7 2019 50 mins
    Eric Tran-Le, VP of Product Management
    Enterprise Fraud Management (EFM) solution helps financial institutions increase financial crimes operation efficiency and reduce costs. In this webinar, we will discuss the pragmatic approach for a successful EFM implementation; highlight the critical capabilities an effective EFM must support to maximize its benefits; and examine these capabilities in real-world examples.
  • Explainable Machine Learning - AML & Fraud Models Recorded: Oct 24 2019 49 mins
    Matt Lau, Eric Tran-Le, Jason Chorlins, Thomas Lee
    - Learning where Fraud & AML workflows converge and diverge
    - Understanding AI/ML Data Preparation & Model Validation Requirements
    - Exploring a Migration Path to AI/ML
  • Monitor and Analyze Brute Force Attacks using Fraud Detection Analytics Recorded: Oct 17 2019 34 mins
    Wendy Xue - Director Product Management, Sayalee Pawar - Product Manager
    Learn how Guardian Analytics’ Fraud Detection Analytics helps financial institutions monitor brute force attacks and perform postmortem analysis to prevent future attacks.
    In this webinar, we will discuss the symptoms of a digital banking brute force attack, how Fraud Detection Analytics helps identify a brute force attack, and how it provides insights for financial institutions to understand vulnerabilities exploited by the fraudsters during a brute force attack.
    Guardian Analytics’ Fraud Detection Analytics complements our fraud detection application. Fraud Detection Analytics offers solutions for FIs of all sizes, whether an FI has its own BI team that can build custom reports, or is looking for out-of-the-box reports.
  • De-risk Customer Onboarding with Flexible KYC, Real-time CDD & Data Verification Recorded: Sep 19 2019 38 mins
    Matt Lau, Product Manager, Guardian Analytics, Zac Sheldon, Financial Compliance & Risk Analytics Specialist, Thomson Reuters
    Guardian Analytics, the market leader in real-time behavioral analytics and machine learning for fighting financial crimes and Thomson Reuters announce a strategic integration to deliver a state-of-the-art modern AML platform to help financial institutions deliver a simultaneously great on-boarding KYC experience while also enforcing CDD in real-time.
  • Fighting RDC Mobile Banking Fraud with Machine Learning Recorded: Sep 5 2019 37 mins
    Sayalee Pawar, Wendy Xue
    Mobile banking use is on the rise, and as banking services grow, so do fraud attempts using mobile banking capabilities. Fraudsters have repeatedly created schemes by blending traditional tactics with new technologies or new banking services. A recent technique involves a very old form of payment – checks – with a newer, but rapidly growing mobile banking service – remote deposit capture (RDC) – to commit check fraud. The mobile banking scams leveraging RDC most frequently in use are the Sweetheart Scam and Fake Online Payday Lenders. This session will provide insights on how criminals are using mobile banking to commit check fraud and how financial institutions can successfully prevent losses and proactively help their customers avoid future fraud problems.
  • Detect and Report Money Laundering Schemes with Guardian Analytics Evidence Lake Recorded: Jun 26 2019 38 mins
    Eric Tran-Le, VP Product Management. Matt Lau, Product Manager
    Micro-Structuring and Funneling activities are commonly used simultaneously by criminal organizations to clean “illicit” money during the Placement, Layering, and Integration stages. These activities are frequently unreported as criminals try to transact right below the detecting thresholds of the traditional rules. Learn how Guardian Analytics AML Evidence Lake can easily detect Micro-Structuring and Funneling activities in all stages of money laundering.
  • Digital & Payments Behavioral Customer Segmentation with Fraud Analytics Recorded: Jun 6 2019 24 mins
    Wendy Xue - Director Product Management, Sayalee Pawar - Product Manager
    With Guardian Analytics Fraud Analytics, financial institutions can create a digital & payments customer segmentation. Digital and transactional behavioral data can provide clues as to how to personalize banking products and services to each segment while behavioral fraud analytics provides the right data for risk analytics. In this webinar, you will learn how to build a digital & payment behavioral customer segmentation using data extracted from Guardian Analytics Machine Learning & Behavioral Fraud Detection solution.
  • The Path to Modern AML Compliance - Neil Katkov Celent Research Group Recorded: May 30 2019 56 mins
    Neil Katkov, Senior Vice President at Celent, Eric Tran-Le Vice President at Guardian Analytics
    AML systems generate a high proportion of false positives, often surpassing 80 or 90% of alerts, resulting in soaring compliance costs at large banks and operational bottlenecks at most institutions. Implementing next-generation technologies including cloud-based intelligent automation and machine learning will increase efficiency and improve efficacy in AML operation for many banks and credit unions.
  • Real-time CDD/EDD Risk Scoring & Identity Verification Recorded: Mar 28 2019 40 mins
    Guardian Analytics and Alloy
    De-Risking Customer Onboarding is a challenge, current legacy tools are inflexible leading to very long onboarding time and a lot of tedious manual processes. Guardian Analytics modern AML CDD/EDD and Alloy real-time identity verification bring leading-edge technologies to:

    - Automatically check a customer’s background against various databases and sanction lists
    - Simplify the onboarding process
    - Helps banks respond faster to any changes in regulatory laws
  • Seamless Upgrade to a Modern AML Platform: Star One Credit Union Testimonial Recorded: Jan 31 2019 31 mins
    Lynn Brubaker VP Star One Credit Union, Eric Tran-Le Vice President of Product Management Guardian Analytics
    Banking regulators encourage financial institutions to explore modern technologies to reduce significantly false alerts, investigation time and operating costs.

    Star One Credit Union VP Lynn Brubaker, BSA Officer, will walk through the key considerations to modernize their current AML system with Guardian Analytics Modern AML EvidenceLake™ Platform.

    Join our webinar, and you will learn how to:

    • Significantly reduce the number of alerts false positives
    • Speed up your investigation time by 200%
    • Substantially reduce your AML Operating Costs
  • Fighting Faster Payments Fraud With Machine Learning Recorded: Jan 23 2019 43 mins
    Eric Tran-Le, VP of Product Management, Wendy Xue, Director of Product Management, at Guardian Analytics
    Fraud follows speed. Faster payments leave no time for manual review of transactions and no room for high false positives. Learn how machine learning based fraud detection can mitigate fraud in real-time with low false positives, ensure positive customer experiences, and transform fraud operations from loss-recovery to loss-prevention.
  • Real-time Digital Banking Fraud Detection Recorded: Nov 27 2018 31 mins
    Eric Tran-Le, VP, Product Management, Guardian Analytics
    "A stolen account credential cost less than $25 on the darknet, you can even have a bundle for $35 with the associated social security number" Source: Darknet

    Guardian Analytics Fraud Intelligence research on our customer’s Digital Banking accounts activities shows:

    • Over 20% of Online & Mobile events are IP geolocation changes related
    • Over 30% of Online & Mobile events are associated with money transfers via Wire or ACH

    Here are some key challenges:
    • A user can have multiple IP address depending on their home router, office proxy, traveling hotspot location…
    • Should you detect suspicious Online and Mobile events?
    • Should you detect the subsequent suspicious money transfer activities resulting from suspicious Online and Mobile events?
    • Do both?
    • Should you block an IP address coming from an infected device?

    Guardian Analytics machine learning and fraud behavioral analytics risk engine monitors in real-time hundreds of digital banking fraud risk indicators from anomalous login behavior including time of day, day of week, IP address change velocity, to device fingerprinting and configuration changes, wire recipient unusual changes, ACH recipient unusual changes, malware detected on devices…
    and calculate a real time risk score for every digital banking user enabling Financial Institutions to detect digital banking suspicious activities.

    Benefits:

    • Detect suspicious digital banking activities in real-time
    • Detection unusual digital banking related ACH and Wire money transfers
    • Enables real-time intervention on payment channel to avoid illicit funds transfers
    • Increase operational efficiency by focusing on the highest risk transactions and reducing callbacks
    • Enhance compliance by meeting FFIEC guidelines for anomaly detection
  • Increase Your Operational Efficiency & Fraud Intelligence with Fraud Analytics Recorded: Oct 11 2018 41 mins
    Eric Tran Le, VP of Product Management
    Guardian Analytics Fraud Analytics provides a single place where Fraud Managers and Business Intelligence users can collaborate on Alert, Case Risk Analytics combined with User Activity and Location Analytics cross Payment Channels.
    This webinar will showcase how easy it is to interact with powerful dashboards built with your favorite office productivity tools. We will do a walk-thru of the following features:
    -Alert & Case Analytics Operational KPIs
    -Activity Analytics Dashboard
    -Location Analytics Dashboard
    -User Account Fraud Intelligence Dashboard
A Modern Platform to Fight Financial Crimes
Guardian Analytics fights modern crime with a modern platform.

We are the pioneer and leading provider of behavioral analytics and machine learning solutions for fraud detection and anti-money laundering software for financial institutions and enterprise organizations.

Our solutions include Digital Banking Fraud Detection for Mobile and Online, Real-Time Payment Fraud Detection for Wire and ACH. Anti-Money-Laundering solutions that include Link Analysis and FinCEN reporting, addressing AML compliance requirements on a single platform, streamlining the case filing process.

Hundreds of financial institutions have standardized on Guardian Analytics’ innovative solutions to mitigate fraud risk and stop the sophisticated criminal attacks targeting retail, commercial, and enterprise banking clients. With Guardian Analytics, financial institutions build trust, increase competitiveness, improve their customer experience, enhance compliance and scale operations.

Guardian Analytics is privately held and based in Mountain View, CA. For more information, please visit www.GuardianAnalytics.com.

Guardian Analytics is a registered trademark of Guardian Analytics, Inc

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  • Title: How to Detect Wire Fraud with Machine Learning and Behavioral Analytics
  • Live at: Apr 23 2018 6:00 pm
  • Presented by: Eric Tran-Le, VP, Product Management, Guardian Analytics
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