June 17, 2024


Think Differently

Financial Products and services Agency Decreases Menace Defense Reaction Time From 3 Several hours to 30 seconds

A large international investment decision business operates globally with in excess of $7 trillion dollars in assets. It provides a broad wide variety of monetary goods to above 30 million retail buyers that count on this organization to regulate their investment and retirement accounts. Their clients expect uncomplicated, safe, and uninterrupted obtain.

Vital API Software That Driven Customer Access

The financial commitment business utilized a really scalable company grade API application to provide accessibility to their 30 million retail investors. Due to their substantial asset dimensions, they had turn out to be an beautiful target for cybercriminals to initiate rolling account takeover (ATO) attacks that aimed to get unauthorized obtain to client accounts and their monetary portfolios. When compromised, it authorized cybercriminals to exfiltrate dollars out of retail accounts for illegal economical acquire.

Much more Than Just an Appealing Target

For the agency, detecting ATO attacks experienced turn into a mission vital operate whose responsibility was held inside the fraud team. Just about every successful fraud attack on the financial commitment firm’s on the net retail accounts would erode purchaser self esteem, enhance buyer attrition, and problems brand name image.

To stop fraudulent transactions, the fraud team relied on identifying suspicious logins on their software programming interface (API) endpoints. Their present resolution, a submit-forensic device would only present a raw dump of transactions for the day, and it would take a fraud analyst several several hours to review all the facts for malicious exercise.

This was time-consuming and exhausting do the job that positioned massive pressure on the fraud team. These attacks had even received the consideration of the senior govt staff, putting pressure on the security staff to deploy a protection alternative that could detect ATO attacks more quickly ahead of they could potentially compromise their retail buyers.

Location Really serious Safety Goals

The security group had devised a set of prerequisites that were used to help decide on a stability alternative that could a lot quicker detect malicious exercise to user accounts. They had been searching for a security solution that could assistance reach the pursuing:

  • A lot quicker Fraud Detection: Allow faster fraud detection lessening the amount of time necessary to detect fraud attacks.
  • Limit Handbook Assessment: Carry out an automated alternative that could limit the manual work that fraud analysts have been doing each individual day, that was getting up to 3 several hours a day.
  • Transfer to Proactive Safety: Safety workforce wished to go absent from continually getting in a reactive security mode to a much more proactive safety method.

Cequence Blocks Fraudulent Exercise Via API Security

The stability group experienced picked out Cequence from a choose set of API safety suppliers to decrease the time to detect fraudulent login exercise on their API software. Performing jointly, Cequence worked with the stability crew to configure and deploy API Spartan, a element of Cequence Unified Protection (UAP) in front of their mission important API application. The success have been immediate.

Just after implementing Cequence UAP, they were equipped to obtain the adhering to:

  • A lot quicker Fraud Detection: Cequence was capable to lower fraud examination time, shaving off hours of evaluation time every working day.
  • Automated Assessment: By applying Cequence, they eradicated hours a day of manual assessment that permitted them to target on a slender established of large chance fraud transactions.
  • Highly effective Security Plan: Cequence provided a powerful safety plan language that permitted them to produce custom made protection policies that could pinpoint targeted assaults.
  • Easy Deployment: Contrary to other fraud detection solutions, Cequence required no cellular SDK or JavaScript instrumentation to function given that the demanded stability intelligence was immediately crafted into CQAI.


For the investment agency, deploying Cequence UAP enabled the fraud crew to reply more rapidly to ATO assaults, cutting down threat detection time from 3 hours to 30 seconds a working day. The fraud analysts were being now much more successful, responding to ATO assaults significantly faster somewhat than paying out hours each and every working day sifting as a result of 1000’s of transactions to decide which logins have been malicious. They had been now capable to continuously observe the login exercise to their API application, making sure that only genuine retail investors had obtain to their personal on-line retail accounts, surfacing malicious ATO tries just about immediately to the fraud workforce.

Study a lot more about how Cequence assisted this investment decision agency realize API security.

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The article Monetary Companies Business Reduces Risk Security Reaction Time From 3 Several hours to 30 seconds appeared 1st on Cequence Protection.

*** This is a Security Bloggers Community syndicated web site from Cequence Safety authored by Muzaffer Pasha. Examine the first submit at: https://www.cequence.ai/blog/cybersecurity-scenario-reports/economic-solutions-api-safety/