Guardian Analytics

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Guardian Analytics
Type Private
Founded 2005
Founders Tom Miltonberger
Craig Priess
Headquarters Mountain View, California, U.S.
Products Online Banking Security
Website www.guardiananalytics.com

Guardian Analytics is an American privately held company headquartered in Mountain View, California providing behavior-based fraud detection software and services to identify suspicious financial activities.[1] It was established in 2005[2] and its products are based on anomaly detection to monitor financial transactions.[3]

In 2012, Guardian Analytics together with McAfee dissected the US$78 million cyber attack titled Operation High Roller.[4] In 2013 Guardian Analytics was listed among the Top 10 Influencers in banking information security.[5] As of October 2013, nearly 300 financial institutions are using Guardian Analytics products to conform to FFIEC expectations for anomaly detection.[6]

FraudMAP[edit]

The company's product suite is called FraudMAP. The general architecture includes two main components. The first component, the risk engine, merges analytics and behavior-based models of a user to create a probabilistic profile of each individual. By recognizing in-session anomalous behavior, it is possible to identify fraudulent activity before loss occurs. The risk engine dynamically adapts to user behavior to be able to detect new fraud attacks. The second component of FraudMAP is a data browser used by financial institutions to monitor, investigate, and resolve potential fraud by accessing collected data. This visual interface shows risk scores and the underlying contextual information to facilitate analysis and investigation.[7]

FraudMAP is able to detect fraudulent activities such as account takeover, account reconnaissance and fraudulent wire, ACH, and bill pay transactions. FraudMAP is not specific to the type of threat and can protect against cyber attacks such as phishing, vishing and Man in the Browser. The software is invisible to the account holders and does not require any action from their side.[8] Guardian Analytics markets several implementations of FraudMAP, targeting particular types of financial interactions:

FraudMAP is marketed as software as a service and can be deployed in the company's SAS 70 Type II certified environment.[16]

FraudDESK[edit]

FraudDESK is a fraud monitoring managed service. Upon subscription to FraudDESK, a Guardian Analytics fraud analyst—using FraudMAP customized for that institution—will monitor risk of sessions and report to the bank when there is a critical issue. The product helps institutions meet the FFIEC authentication and Internet banking guidelines for online banking security.[17]

FraudMAP Connect[edit]

FraudMAP Connect is a platform for financial institutions to collaborate in gaining fraud intelligence and to exchange information in order to improve fraud prevention practices. The cross-institution data raises awareness in industry-wide fraud threats and trends.[18][19]

See also[edit]

References[edit]

  1. ^ Security Week News: "Guardian Analytics Launches Fraud Detection for Mobile Banking"
  2. ^ Business Week: "Company Overview of Guardian Analytics, Inc"
  3. ^ Mobile Banking Week: "Guardian Analytics Introduces New Anomaly Detection Solution to Protect Mobile Banking Channel"
  4. ^ Wall Street Journal: "Operation High Roller Targets Corporate Bank Accounts"
  5. ^ Bank Info Security: "Top 10 Influencers in Financial InfoSec" (number 8).
  6. ^ San Francisco Business Journal, Oct. 8th 2013
  7. ^ Finovate Startup 2008 Video Archives
  8. ^ Security Week: "Guardian Analytics Launches Managed Fraud Monitoring Service", July 13 2011
  9. ^ Security Hub: FraudMAP Online by Guardian Analytics
  10. ^ PR Newswire, "FraudMAP® Emerges as Standard for Anomaly Detection and Transaction Monitoring", Feb 8 2011
  11. ^ RFP Connect: "Guardian Analytics Offers FraudMAP For Business Banking", 20 Feb 2010
  12. ^ PC World: "Guardian Analytics Launches Fraud Detection Software for Mobiles", Apr 23, 2012
  13. ^ Payment Eye: "Behaviour-based Fraud Prevention Solution for ACH Transactions", 14 August 2012
  14. ^ The Wall Street Journal, April 22, 2013
  15. ^ Detect Unauthorized Access to Online Banking Accounts
  16. ^ Mosaic Security Research: "FraudMAP Software as a Service"
  17. ^ PRN News: "Guardian Analytics Introduces Industry's First Fraud Monitoring Managed Service"
  18. ^ Guardian Analytics Announces Collaboration Platform and Intelligence Community to Stop Banking Fraud
  19. ^ In Cyber Security Fight, Collaboration Is Key: Guardian Analytics

External links[edit]