Minsait Enhances Protection Against Online Fraud

Minsait, an Indra company, has developed Onesait Behavior Fraud, a state-of-the-art cybersecurity solution for detecting fraud in online payment and transfer transactions that greatly enhances the levels of protection thanks to the application of pioneering artificial intelligence techniques that are capable of replicating the procedures and working methods of specialized banking analysts.

A cyberattack on an airline results in the theft of thousands of credit cards. €12.2 million have been withdrawn from accounts in just a few minutes. This is a real case that took place a year ago, but which is a recurring trend that is generating significant losses in the income statements of banks and companies in many other sectors that operate electronically all over the world.

Onesait Behavior Fraud can put a stop to this type of situation by establishing controls that are far superior to those offered by the anti-fraud tools used until now.

The solution applies automatic and machine learning techniques to ensure fraud detection, even if attackers use new techniques for which there is no known precedent.

The key lies in an algorithm capable of reproducing and automating the complex analysis procedures employed by bank anti-fraud analysts.

The ultimate goal of the Minsait system is to support the work of these specialists, who have to cope with an increasing number of online transactions that run at enormous speeds. In addition, increasingly demanding regulations and the risk of incurring massive fines rise the pressure.

Onesait Behavior Fraud is responsible for building individualized profiles for each client and it processes large amounts of information about their activity in order to analyze each transaction and verify it. It can thus identify promptly any deviation from habitual behavior.

The system analyzes the operations that clients perform in all contact channels with the company or bank, and not only those in which fraud has traditionally been concentrated (cards and transfers). This omni-channel vision of clients makes it very difficult for attackers to hide their movements.

The Minsait solution completely overcomes the traditional fraud prevention strategy, based on the historical knowledge of the techniques used by scammers to establish business rules for detecting them.

The new system is much more efficient and secure and it allows banks and companies in any sector operating in digital environments to offer an agile and convenient service very much in demand by clients today; one which is essential to survive in the digital world.

Onesait Behavior Fraud was developed from the multipurpose data analytics platform Onesait Platform by Minsait and is integrated into the Onesait Behavior family of products, specialized in learning the behavior of entities and which is currently deployed in critical mission production environments.

Minsait has a team of over 400 experts in cybersecurity that make their mark by developing security technologies, enabling digital businesses and protecting them, through a holistic risk-based approach with a focus on prevention, protection, detection and incident response. We combine the knowledge of digital identity, biometrics, electronic signature, distributed cryptography, blockchain and artificial intelligence, to create solutions with impact on business and digital user experience. We concentrate the cybersecurity talent in CyberDefense Centers: specialized and distributed centers in Spain, Mexico and Colombia, which combine a high level of specialization (Red Team, Blue Team, CSIRT and security architects) thanks to our range of Managed Detection and Response Services.

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