Guardian Analytics released its Anomaly Detection Toolkit to help financial institutions successfully address the minimum expectations for layered security outlined in the FFIEC Supplement to the Authentication in an Internet Banking Environment.

The Anomaly Detection Toolkit offers a primer on how banks can effectively detect and respond to suspicious online banking behavior, one of the FFIEC's two minimum expectations for layered security.

The Toolkit was developed in response to the results of the recent FFIEC Online Banking Security Readiness Study, which found that nearly half of financial institutions do not fully understand the minimum requirements outlined in the 2011 Supplement.

Anomaly detection protects financial institutions and their customers by identifying unusual online and mobile banking behavior for each individual account holder during online banking sessions. In the FFIEC Supplement, the agencies specify that the fraudulent activity they reviewed was unusual when compared to established patterns of normal customer behavior. Anomaly detection is a proven approach to detecting the wide array of attacks against online banking, including man-in-the-browser schemes.

The toolkit offers a unique approach to describing what anomaly detection is, how to implement it, and the benefits financial institutions of all sizes experience with anomaly detection.

The toolkit includes five resources:

1) White Paper: “A Practical Guide to Anomaly Detection”—An overview of online banking security best practices in the context of the FFIEC Supplement. It also includes an FAQ and outline of the minimum expectations, designed to be a resource for financial institutions working to prepare for their 2012 examinations.

 

 

2) Infographic: Putting Anomaly Detection Into Practice—An easy to understand information graphic that illustrates how anomaly detection solutions detect online fraud, and options available to financial institutions for responding to alerts raised by their anomaly detection solution.

 

 

3) Video: Putting Anomaly Detection into Practice—A short, engaging, animated version of the infographic with a voiceover explaining how anomaly detection works and how institutions can respond.

 

 

4) Anomaly Detection in Action: Examples of Detecting Actual Fraud Attacks—Five examples of online attacks using a range of techniques, and how anomaly detection identified each as fraudulent.

 

 

5) Beyond Compliance: Additional Benefits of Using Anomaly Detection to Stop Online Banking Fraud—Anomaly detection solutions will detect fraud attacks that other solutions miss, and will enable financial institutions to conform to the FFIEC Guidance.

To download the Anomaly Detection Toolkit, visit:http://info.guardiananalytics.com/ADToolkit.html.