buguroo adds account fraud prevention capabilities to its bugFraud

Thursday 23 January 2020 09:51 CET | News

buguroo has announced new capabilities that aim to make it easier for banks to identify fraudsters who attempt to open new bank accounts.

The ‘New Account Fraud’ prevention capabilities are included in the latest version of buguroo’s bugFraud solution, and employ advanced deep learning technologies to analyse new customer onboarding sessions in real-time, Help Net Security reveals. These also analyse each user’s behaviour and environment without adding friction to their journey.

Moreover, buguroo’s new features include:

  • Analysis of user environment – the solution analyses geolocation, device, and network data to establish that the user is who they claim to be. This alerts on unexpected/known fraudster devices, network/device reputation, software anomalies, presence of malware and/or bots;
  • Behavioral biometrics checks – this verifies the onboarding process in real-time, assessing customer applications to identify suspicious behaviour and comparing the applicant’s behaviour against that of known fraudsters;
  • Contextualised detection techniques – allow banks to compare each onboarding session with the typical behaviour patterns of other legitimate users and against the modus operandi of fraudsters.

More: Link

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Keywords: buguroo, bugFraud, Account fraud, fraud prevention, behavioural biometrics, geolocation, data, malware, bots, banks
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime