Asseco FDS (Fraud Detection System)

Frauds committed by the organization’s employees are the most difficult to detect. They often last long and are disclosed several years after their occurrence. In addition, the specificity of a given organization, its systems and internal procedures determines the frequency of occurrence and the type of the most common internal frauds.

To meet the expectations of customers, Asseco FDS, on one hand includes a predefined set of detection rules that support the detection of fraud by employees of financial institutions. On the other, the full system parameterization allows the user to flexibly adapt the tool to the specific needs of an organization.

Asseco FDS is the answer to the growing number of threats in cyberspace, the increasing number of attacks on users of electronic banking and rapidly changing fraud scenarios. The tool is designed for analyzing the behavior of a user using electronic banking by creating security in the form of two independent defense lines. The first line of defense enables the detecting of symptoms that indicate an attempt of fraud at the time of logging in to the remote channel.

The second line of defense protects the user from attempts to order unauthorized transactions before funds are transferred outside the Bank. The system conducts detection processes in real time in a manner invisible to users, which is important due to the convenience of use and the organization’s obligations in terms of service continuity. Such action allows an immediate reaction in case of detection of the so-called red flags, which may consist of blocking access to a remote channel or suspending a suspicious transaction.

AssecoFDS supports financial institutions in reducing financial losses caused by loan frauds. The tool is designed for the automatic verification of loan applications against specific detection rules. Verification can be carried out in real time or at specific time intervals based on batch data. The flexible editor of system rules enables quick identification of suspicious loan applications and allows effective counteracting threats in the area of loan frauds, such as operations of organized crime groups, identity theft and document forgery. The system also allows the monitoring of the process of granting loans in the context of tampering with data on loan applications by employees of the organization or occurrence of other internal frauds regarding the process of granting loans.

Asseco FDS supports organizations in the process of monitoring sold products in terms of their use for illegal purposes. Monitoring transactional banking or bank accounts allows early identification of the so-called mule accounts, accounts for advance fraud or used to receive proceeds from crime.

Detection rules enable the quick detection of the so-called red flags and, as a consequence, to immediately take action to mitigate the risk of using a financial institution for criminal purposes, such as identity theft and document forging.