MOUNTAIN VIEW, Calif., July 18, 2016 /PRNewswire/ -- Guardian Analytics, the market leader in real-time behavioral analytics and machine learning solutions for preventing banking fraud, today announced that in the last twelve months, an additional six million transactions have been protected by Guardian Analytics Wire, the company's flagship wire solution that offers real-time intervention. Fifty new customers, with cumulative assets of $380 billion, added Guardian Analytics Wire to protect their customers from the Business Email Compromise scam that has cost businesses over $3.1 billion, according to the FBI.
"The impact of the Business Email Compromise scam is far greater than any fraud trend we've seen," said Laurent Pacalin, President and CEO of Guardian Analytics. "Since the FBI first alerted of this scam in June of 2015, there has been over a 1,300 percent increase in victims affected and 436 percent increase in funds lost in the United States alone."
"Criminals continue to modify their technique to find new ways to victimize businesses into this scam," said Luis Rojas, Vice President of Products at Guardian Analytics. "With our wire solution, Financial Institutions have proven to be in a better position to protect their customers from BEC and any variations that may arise."
Guardian Analytics Wire uses originator, population and cross-originator beneficiary models to accurately detect fraud without the need to define rules or scenarios. With real-time intervention the solution automatically releases or cancels wire transactions based on behavior. To learn more, download the product sheet, or see Guardian Analytics Wire in action from the Guardian Analytics YouTube channel.
About Guardian Analytics
Guardian Analytics is the pioneer and leading provider of behavioral analytics and machine learning solutions for preventing banking fraud. More than 400 financial institutions have standardized on Guardian Analytics' innovative solutions to mitigate fraud risk and rely on the company to stop the sophisticated criminal attacks targeting retail and commercial banking clients. With Guardian Analytics, financial institutions build trust, increase competitiveness, improve their customer experience and scale operations. Guardian Analytics is privately held and based in Mountain View, CA. For more information, please visit www.GuardianAnalytics.com.
Guardian Analytics is a registered trademark of Guardian Analytics, Inc.
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SOURCE Guardian Analytics