Fraud Focus: Stopping Multi-Channel Attacks at the Source

Multi-channel fraud is an emerging issue affecting consumers and financial institutions everywhere. Criminals commit multi-channel fraud by performing undetected reconnaissance work in an online account and then use other channels such as telebanking, wire transfer, or an ACH transaction to execute a lucrative scam. This research paper by Diana Kelley of SecurityCurve and former VP from Burton Group discusses:

• a real-life example of a financial institution to dissect the anatomy of a multi-channel attack
• the challenges in detecting and understanding these attacks
• approaches for identifying and preventing an attack before losses can occur