Anti-Fraud

Threat actors have become highly sophisticated in avoiding cybersecurity when they attack financial institutions to commit fraud. They exploit vast amounts of information, social media platforms, and channels on the surface, deep and dark web to create synthetic identities, share weaknesses of onboarding processes, and exploit customer vulnerabilities. They also use the dark web to purchase attack tools and sell stolen data. For financial institutions and providers of financial services, this entails that they must identify and prevent direct threats, block fraud attempts, and protect customers from social engineering schemes. But conducting comprehensive checks and looking for vulnerabilities is a costly and time-consuming process.

Workflow
Threat Detection

The cyber threat landscape is constantly evolving, targeting financial institutions and their customers alike. Threats, hacking schemes, stolen identities, and data leaks are discussed, bought, and sold on darknets and social forums. Financial institutions are obligated to detect and identify threats facing their infrastructure, services, and customers, or face significant financial and reputational damage.

The WEBINT platform of Cobwebs provides a holistic solution for cybersecurity and front desk teams for detecting and blocking online and offline fraud threats. Using artificial intelligence, platform users can automatically analyze online profiles of loan, credit card, payment service applicants for behavioral anomalies, while referencing intelligence on fraud vulnerabilities gathered 24/7 from the deep and dark web, social media forums, and other publicly-accessible online channels.

Deep and Dark Web Analysis

To track threats and threat actors across multiple platforms, marketplaces, and other channels where fraudsters are trafficking information regarding financial institutions, the WEBINT platform detects discussions on compromised financial services and data leaks on the deep and dark web. The AI-driven tool uses NLP algorithms to search for and identify compromised customer details, vulnerable bank services, data leaks, or other fraud threats.

The automatically generated insights based on data extracted from watchlists, encrypted databases, local multilanguage media sources, and sentiments expressed on social networks also allow financial institutions to perform due diligence, screen candidate, find dormant clients, and conduct KYC and profile analysis.

Visualizing Fraud Networks

To get insight into fraud networks, financial institutions need to understand the connections between the various fraudsters and fraud patterns. The WEBINT platform of Cobwebs allows for advanced visual link analysis to reveal and visualize hidden and connected web data and present it as a map displaying influencing nodes and social communities to reveal fraud patterns.

The platform allows for geospatial and time-based analyses using different layouts, centrality measures, grouping, filtering, and clustering. Based on the results, financial institutions can evaluate the connections between the various actors to take reactive or preventive action.

The WEBINT Platform Enables:

Features:

KYC & Deep
Due Diligence

Fraud
Detection

AML/CTF
Investigations

Gain Real-Time Situational Awareness

Cobwebs’ solutions are recognized globally for innovation, compliance, and award-winning technologies.