 Fraud Detection and Management |
| Internet Banking (IB) fraud is still prevalent as conventional computer security controls are inadequate to address attacks targeted at IB's weakest link, the IB users. As IB transactions are encrypted, common application level attacks go largely undetected by standard technological tools, namely the network IDS's and traditional network firewalls.
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| Recent advances in AI and network computing has the ability to detect IB threats such as 'identity theft' and suspicious IB activities. To achieve this, the disparate and obscure information located in log files has to be centrally stored, correlated and archived. Extol's proprietary hardware, the FS9000 forensics server series, does precisely this. The FS9000 forensics server is a hardware solution, which comprises a rule based fraud detection system, and a NN based detection system. The internal self-checking mechanism of the FS9000 ensures integrity and preservation of evidence. This makes the FS9000 forensics server series a suitable platform for troubleshooting IB system problems and forensics tool.
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| Extol's latest offering under MSS is ARC6, which is an AI system residing in the FS9000 server. ARC6 is capable of analysing an enormous amount of IB logs in real-time, round the clock, all year round. It is capable of either detecting fraudulent transactions through its signature-based system or through anomaly detection. It also has a self-learning capability (based on an AI system known as NN systems) that is able to learn and update itself on new fraud patterns. ARC6 is the first proprietary system of Extol, which is embedded with the (first version) NN engine, an engine that has predictive capability and allows for proactive identification of unreported or unknown viruses.
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| The proprietary applications and appliances used for Extol's Fraud Detection and Management solution are:-
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