LOS ALTOS, Calif., Sept. 9 /PRNewswire/ -- Guardian Analytics, the innovator in predictive analytics-based fraud prevention software, has joined Financial Services-Information Sharing and Analysis Center (FS-ISAC) as an Affiliate Board Advisor, furthering the company's objective of sharing data on cyber attacks and best practices for cyber security for the financial industry.
FS-ISAC members and participants are comprised of a variety of firms in the financial services sector including banking firms, credit unions, insurance companies and credit card companies. Affiliate Board Advisors play a critical role at FS-ISAC by providing use cases and best practice scenarios. They also provide information regarding up-to-the-minute information around physical and cyber critical security threats.
After a record year in 2009, fraud attacks against online business banking show no sign of stopping. Cyber criminals advanced their technologies and methods to continue stealing millions from online accounts, even as banks, consumers and businesses attempt to put more controls in place. Recent research from the 2010 Business Banking Trust Study reports in 80 percent of fraud attacks, money left the institution before it was noticed, leaving banks and businesses wondering which way to turn to fight the war against cybercrime.
"Our experience working with banks and credit unions to provide fraud detection, forensics and risk monitoring solutions is fundamental to the issues that FS-ISAC is addressing day in and day out," said Terry Austin, CEO, Guardian Analytics. "We are looking forward to contributing our perspective to improve the security of the financial services industry through our participation as an Affiliate Board Advisor of FS-ISAC."
"With a diverse and growing set of financial institutions using its solutions to protect retail and business banking, Guardian Analytics has unique insight into emerging trends and specific attack methods that fraudsters are using," said Bill Nelson, executive director, FS-ISAC. "We are looking forward to partnering with Guardian Analytics to harness their knowledge about online banking account takeover and cross-channel fraud to help financial institutions better protect themselves and their customers."
Launched in 1999, FS-ISAC was established by the financial services sector in response to 1998's Presidential Directive 63. That directive -- later updated by 2003's Homeland Security Presidential Directive 7 -- mandated that the public and private sectors share information about physical and cyber security threats and vulnerabilities to help protect the U.S. critical infrastructure. Constantly gathering reliable and timely information from financial services providers, commercial security firms, federal, state and local government agencies, law enforcement and other trusted resources, the FS-ISAC is now uniquely positioned to quickly disseminate physical and cyber threat alerts and other critical information to your organization. This information includes analysis and recommended solutions from leading industry experts.
About Guardian Analytics
Headquartered in Los Altos, Calif., Guardian Analytics is focused on the prevention of online account fraud. The company's real-time risk management approach to fraud detection, forensics and risk monitoring is built on strong analytics and predictive models of individual behavior. Leading financial services institutions rely on Guardian Analytics to protect individual account assets and the integrity of their online channels. Founded in 2005, Guardian Analytics is privately held with venture funding from Foundation Capital. For more information, please visit www.guardiananalytics.com.
SOURCE Guardian Analytics