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1 27-Dec-13 © Intellinx Ltd. All Rights Reserved.Intellinx Ltd. All Rights Reserved Intellinx Ltd. Intellinx The Enterprise Fraud and Monitoring Solution.

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Presentation on theme: "1 27-Dec-13 © Intellinx Ltd. All Rights Reserved.Intellinx Ltd. All Rights Reserved Intellinx Ltd. Intellinx The Enterprise Fraud and Monitoring Solution."— Presentation transcript:

1 1 27-Dec-13 © Intellinx Ltd. All Rights Reserved.Intellinx Ltd. All Rights Reserved Intellinx Ltd. Intellinx The Enterprise Fraud and Monitoring Solution

2 2 27-Dec-13 © Intellinx Ltd. All Rights Reserved.Intellinx Ltd. All Rights Reserved Leading provider of end-user surveillance solutions for detecting & preventing enterprise fraud and information leakage Founded in 2005 Over 150 customers worldwide 3 of the 10 leading banks in the US are using Intellinx 2 of the 4 largest banks in China are using Intellinx A worldwide network of partners Ranked by Gartner as #1 solution for Internal Fraud Detection in 2010 Ranked by Gartner as #1 EFM solution in deployment simplicity in 2010 About Intellinx

3 3 27-Dec-13 © Intellinx Ltd. All Rights Reserved.Intellinx Ltd. All Rights Reserved The Enterprise Fraud Paradigm Shift Other Fraud Vendors Long and complex set-up phase including heavy data integration Black box – you must hire their professional services or developers to make any changes Missing data – they only see whats already in databases, files, and logs. Key transactions are missing. Intellinx Simple - Ranked by Gartner as #1 EFM solution in deployment simplicity Configurable – rules, reports, dashboards, security, etc. all configurable by business users More data – in addition to databases, files, and logs, Intellinxs patented sniffing records user activity (important for online banking and internal fraud)

4 4 27-Dec-13 © Intellinx Ltd. All Rights Reserved.Intellinx Ltd. All Rights Reserved Intellinx – End-to-End Fraud Prevention Data Capture & Collection System records every employee activity (inquiries, updates) Critical user query data captured via patented network sniffing Log files and databases Fraud Analytics Library of anti-fraud rules from customer implementation Business users can add and modify anti-fraud rules easily Dynamic Profiling and scoring can alert in real-time or batch Unique Investigation Tools Replay user activity screen by screen Google like search on captured data Link analysis against any data in system Enterprise Case Management Alert and incident workflow Case management, SAR generation Business users can configure reports and dashboards

5 5 27-Dec-13 © Intellinx Ltd. All Rights Reserved.Intellinx Ltd. All Rights Reserved Monitored Environment Mainframe Network Switch Existing Data Sources Databases Reference Log Files Web Server Client/ Server AS 400 External Users eBusiness customers Internal Users Database Server Business User Privileged IT User tables Intellinx Functions Search Engine Investigation Center & Case Manager Data Collector & Consolidator Visual Audit Trail Analyzed Data Analytic Engine Intellinx – General Architecture Intellinx Users Visual replay Google like search Reports Google like search Alerts Cases Profiles Auditors Compliance Officers Fraud Investigators

6 6 27-Dec-13 © Intellinx Ltd. All Rights Reserved.Intellinx Ltd. All Rights Reserved Rule Examples What? Access of a specific account Access an account included in a White list/ Black list Access any account more than x times in an hour/day How? Search for accounts according to customer name more than x times in an hour/ day When? All the above – after hours Where from? All the above from which department Time correlation Same user-id login from different terminals in the same time Access customer sensitive data without customer call in the call center at the same time Data correlation Add same address/ beneficiary to different accounts by the same user Aggregation Sum of transfers of an account/ user exceeds x Scenario Add beneficiary then transfer/withdraw money then delete beneficiary - all in 48 hours Change address then transfer/withdraw money then delete address - all in 48 hours Increase credit limit then transfer/withdraw money then decrease credit limit - all in 48 hours

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9 9 Multi-Layered Defense from Online Web Fraud Layer 1: Online Monitoring Intellinx automatically records all user activity in your online banking applications. Fast implementation. No heavy integration – as soon as the Intellinx data collectors are plugged in to the network, online banking monitoring starts. Greater visibility. Other vendors use log files that only tell part of the story. Intellinx literally records all online banking activity, and uses these recordings to spot fraudulent behavior earlier. Automated profiling. Intellinx automates the process of building customer-level profiles. This means that the system will alert only when a customer behaves unusually vs. their normal behavior.

10 10 27-Dec-13 Intellinx integrates with other anti-fraud controls in your environment to more accurately identify fraud. Eliminate silos and redundant alerts. Its easy to find oneself managing alerts from multiple anti-fraud systems. Intellinx integrates with all of them and provides a single risk score across all online banking anti-fraud systems. Intellinxs Multi-Layered Defense from Online Fraud Layer 2: Aggregate All Online Anti-Fraud Alerts

11 11 27-Dec-13 Intellinx integrates with customer databases to more accurately identify fraud. Intellinxs Multi-Layered Defense from Online Fraud Layer 3: Integration with Customer Data

12 12 27-Dec-13 Intellinxs Multi-Layered Defense from Online Fraud Layer 4: Integration with Core Bank Systems Intellinx integrates with core bank systems to more accurately identify cross-channel fraud.

13 13 27-Dec-13 The Intellinx Enterprise Case Manager Manage and track cases requiring SAR submission and their respective due dates according to FinCen guidelines Auto populate SAR with all relevant data Support both E-Filing and manual submission (PDF) Compliance and fraud trend reports Productivity reports and detailed audit trail provide accountability for all employee actions Link Analysis Integration with other organizational systems for data reuse and quick deployment Highly Customizable: Case types, Layout, Workflow

14 14 27-Dec-13 Investigators Dashboard

15 15 27-Dec-13 Case Detailed View

16 16 27-Dec-13 SAR PDF

17 17 27-Dec-13 Case-Suspect Link Analysis

18 18 27-Dec-13 Benefit 1: Pre-Loss Detection of Major Internal Fraud Cases Case Study: major collusion between insiders and crime ring An international long-term savings and investment group with over 12 million customers and approximately 15,000 local employees (55,000 worldwide) deployed Intellinx for monitoring employees activity in the corporate systems and for detecting insider fraud. 5 months into the implementation project the system alerted on suspicious activity of several employees which led to investigation that revealed a collusion between several insiders and a crime ring for stealing companys funds. Benefits & Return on Investment: $2 million + avoiding reputational damage If the case hadnt been detected using the Intellinx system, the investigators working on the case estimated a loss of $2 million and reputational damage for the institution. This case was identified in the first five months of the implementation project – the system wasnt even fully implemented yet. In your organization, look at recent large cases over the past few years, and estimate what losses could have been prevented with an employee fraud monitoring solution in place. © Intellinx Ltd. All Rights Reserved

19 19 27-Dec-13 © Intellinx Ltd. All Rights Reserved Benefit 2: Detection of many smaller Internal Fraud Cases Case Study: 400 cases in 2 months $50 Billion Bank deployed the Intellinx pre-packaged employee fraud solution. During the first 2 months of production the system alerted every day on about 10 real cases of employee misconduct, with a total of about 400 cases of various employees. In fact, the bank initially thought that these were false positives, but upon investigation found them to be legitimate internal fraud and not-following-policy cases. Once employees were questioned about their misconduct they changed their behavior and started to comply with the bank policies. Cases included: Employees conducting monetary transaction on their own account Employees conducting transactions that are unusual for their role, accessing systems they shouldn't. Benefits & Return on Investment: estimated at $1.8 – 2.8 million While this client declined to provide hard numbers, the AFCE reports that the median internal fraud loss in Banking and Financial Services is $232, If only a very modest 2-3% of the 400 cases identified had led to a loss, the potential loss would have been $1.8 – 2.8 million. And this was just in the first two months. Soft benefits reported include investigators able to prove various cases of insider fraud while requiring much less time to research and look for evidence. 1 Page 29, 2012 Report to the Nations on Occupation Fraud, ACFE

20 20 27-Dec-13 © Intellinx Ltd. All Rights Reserved Benefit 3: Massive IT project cost avoidance Case Study: compliance in just two months $91 billion bank had to comply with a GLBA-like privacy regulation that requires all banks in the jurisdiction to maintain a detailed audit trail of all user access to customer data, including updates and queries. While the bank had an existing logging system, it did not include all the transactions, and in most cases it did not log queries. Benefits & Return on Investment: avoidance of $1.5 – 10 million project The bank planned a compliance project for adding a small logging component to each one of their thousands of mainframe programs. The estimated cost was over $1.5 million (100 programmer months and additional maintenance/overhead on mainframe) and the estimated timeframe was well over a year. Other, larger banks in a similar position have approved project budgets of $10 million+ to update all core systems to comply with privacy regulators. Intellinx was able to deliver more robust monitoring at a lower price and in just two months.

21 21 27-Dec-13 © Intellinx Ltd. All Rights Reserved Benefit 4: Replacing existing system or vendor Case Study: replacing outdated storage with more robust solution A leading credit reporting agency implemented Intellinx for monitoring and archiving all inquiries and transactions against sensitive data by both internal users (employees) and external users (customers and third-parties). Previously, the inquiry records were stored in a microfiche system, which was both costly to maintain and very slow to access. Benefits & Return on Investment: $700,000 annual savings The existing microfiche system cost the credit reporting agency $700,000 a year in maintenance costs. This organization also experienced a dramatic increase in their rate of fraud detection since implementing Intellinx, going from zero investigations in 2007 to over 1,500 investigations in If only a very modest 2-3% of the 1,500 cases identified had led to a loss, the potential loss would have been $6.9 – 10.4 million. 1 As a soft benefit the typical investigation time was reduced by 80%, going from 2-3 weeks to 2-3 days. While reduced investigation time was a soft benefit in this organization, it can also be a hard benefit in organizations that plan to reallocate staff to other priorities, or reduce the amount of staff dedicated to investigations. 1 Page 29, 2012 Report to the Nations on Occupation Fraud, ACFE

22 22 27-Dec-13 © Intellinx Ltd. All Rights Reserved Benefit 5: Reducing / reallocation investigator costs Case Study: improve investigation time by 90%+ A State Criminal Justice Information System implemented Intellinx for monitoring all access to sensitive customer data by employees and for improving internal investigations of information leakage and policy breaches. Benefits & Return on Investment: $650,000 a year in reduced staff costs After installing Intellinx, the average time to conduct investigations was dramatically reduced by more than 90% (some investigations were reduced from 10 weeks to 20 minutes). The hard cost savings totalled $650,000 a year, which includes reallocating both investigators and IT staff to other functions, and reducing reliance on archive tapes. The soft benefits that this organization reported include: Real-time Alerts allow enforcing security policies by detecting security breaches immediately and enhancing officer safety Deters users just by knowing that all their actions are recorded Enhances the States ability to enforce its laws relating to access and dissemination of records

23 23 27-Dec-13 For More Information please contact… Len Santalucia, CTO & Business Development Manager Vicom Infinity, Inc. One Penn Plaza – Suite 2010 New York, NY office mobile About Vicom Infinity Account Presence Since Late 1990s IBM Premier Business Partner Reseller of IBM Hardware, Software, and Maintenance Vendor Source for the Last 4 Generations of Mainframes/IBM Storage Professional and IT Architectural Services Vicom Family of Companies Also Offer Leasing & Financing, Computer Services, and IT Staffing & IT Project Management


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