Security News > 2023 > March > Fighting financial fraud through fusion centers

Keeping up with financial fraud is incredibly difficult because accurate fraud detection requires a deep, real-time analysis of all the events surrounding a transaction.

Teams need to have a portfolio of techniques to call upon, a centralized structure for identifying and combatting threats, and an agile approach to fight cyber-attacks and financial fraud.

A fusion center is an environment that merges cybersecurity and fraud operations.

Fraud teams typically have access to structured transactional data originating from the general ledger or databases - their data is good, but it often has limited contextual insight into those transactions.

Context is king, so by combining these data sources, fusion centers offer the complete view needed to respond to malicious behavior with speed and accuracy.

In an ideal world, firms can use the fusion centers to centralize transactional data from ledgers, databases, and/or the mainframe - including watchlists and external data.

News URL

https://www.helpnetsecurity.com/2023/03/13/fighting-financial-fraud-through-fusion-centers/