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BANKING

Rule-Based Solution Thwarts Fraud Attacks and Improves Security


The Challenge

A U.S.-based global payment solutions company wanted to protect its payment processing platform from brute force attacks by credit card fraudsters. These attacks compromised the security of the company’s payment platform, resulting in significant network fees for declined transactions. The company approached Cognizant, its IT consulting provider, to develop a fraud early-warning solution that would block stolen card numbers in real time.


Our Approach

Cognizant's banking technology team designed a real-time rule-based solution specific to the company’s needs and deployed it within 10 months. It was designed with minimal hardware, using open-source products wherever possible, thus significantly lowering the implementation costs. If a rule is violated, the payment processing platform declines the transaction and flags the card as an exception. If the rule violation continues, as is the case with brute force attacks, the card number is blocked within 25 seconds.

This solution was designed to scale as fraud patterns change. It learns new fraud behaviors, providing continuous insights to the company’s compliance team so additional rules can be devised.

Fraud Detection Platform Reduces Attacks and Improves Security

Cognizant’s early detection solution significantly reduces brute force attacks and the resulting network fees by $50,000–$60,000 per month. The system detects more than 1,500 violations per day at the authorization level, thus providing an additional layer of security to merchants and cardholders.

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$50,000–$60,000

reduction in network fees

1,500+

detected violations per day

Provided

insights to continuously develop new rules

Protects

cardholder data from being detected by fraudsters


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