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BANKING & FINANCIAL SERVICES

Securing a Payment Processor Against Cyberattacks

The Challenge

A major third-party payment processor’s credit/debit card authorization systems experienced brute force cyberattacks by fraudsters, who were siphoning off individual card data. The attacks triggered declined transactions that resulted in significant dollar-value losses for both acquirers and merchants. The company needed a system to combat these intrusions.

Our Approach

Cognizant developed a rule-based enterprise fraud detection solution that detects fraud in near-real time. Our Authorization Fraud Detection System (AFDS) monitors every declined transaction, evaluates it against predefined patterns/rules and takes action (block/notify). The system stores and monitors all blocking/unblocking information and sends the TCP/IP block/unblock requests to the IP ports of the company’s authorization systems in real time.

Detecting Card Fraud Within 25 Seconds

For early detection and prevention of brute force attacks the company uses Cognizant’s AFDS. The solution detects fraud within 25 seconds of card swipe and supports high TPS from the company’s authorization systems (both approved and declined).

<25

seconds to detect fraudulent activity

$30,000

savings per month (average)

1500

card violations detected per day (average)

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