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How to Safeguard your Organisation from Fraudulent Activities during the Holiday Season

The holiday season is widely regarded as a joyous time of the year, however, for financial institutions, it’s a time to be cautious and on alert for cybersecurity risks such as account breaches, spyware, identity theft, ransomware attacks etc.

As Banks and FinTech companies continue to advance their payment services and access to digital channels, cybercriminals are lurking just around the corner to take advantage of the unwary with complex and sophisticated schemes and avenues, with sole purpose the deceival of people.

Preventing fraudulent activities is a difficult and highly demanding task that can be managed by adopting RegTech solutions that support Anti Money Laundering (AML) & Know Your Customer (KYC), Transaction Monitoring, Customer Screening, and eCV electronic Customer Verification.

3 Top Tips that can safeguard your peace of mind:
1. Use multiple layers of fraud prevention tools
2. Immediately report suspicious activity
3. Audit fraud prevention practices

 eBOS offers a wide variety of technologically advanced software solutions that assist organisations to deter and minimise exposure to financial fraud by timely detection, continuous monitoring functionality, generation of meaningful reports, and much more. Included in the WiseBOS Suite of Solutions are specialised solutions that can monitor clients effectively while carrying out effective customer due diligence: WiseBOS Transaction Monitoring (TrM); WiseBOS Screening (Scr), WiseBOS electronic Customer Verifications (eCV) and WiseBOS RiSC – Risk Intelligence, Scoring & Compliance for advanced KYC management and intelligent AML risk assessment.
To book a demo and to learn more about eBOS’ contact us!