Netherlands’ ING Bank: Fortifying Fraud Prevention with Virtual Team, Monitoring Solutions, and Dedicated Squad
As the digital landscape continues to evolve and cyber fraud poses a significant risk, ING Wholesale Banking in the Netherlands has bolstered its fraud prevention measures, implementing the following initiatives:
- Virtual cybercrime and fraud team
- Continuous session monitoring
- Dedicated fraud operations team
Virtual Cybercrime and Fraud Team 🛡️
ING Wholesale Banking’s proactive approach to fraud prevention includes a virtual cybercrime and fraud team. This team, composed of cybersecurity and fraud experts, collaborates on a regular basis through weekly calls across geographical areas for optimal information sharing. This collective intelligence and coordination allows the organization to effectively respond to emerging fraud threats and act swiftly when a case is identified.
Continuous Session Monitoring 🔄
Session monitoring has been implemented to scrutinize web sessions in real-time and detect potentially fraudulent activity. Suspicious customer environments that house certain malware can be identified through anomaly analysis. Once identified, ING will alert the affected clients and offer guidance on next steps.
Dedicated Fraud Operations Team âś…
Should anomalies arise from session or transaction monitoring, a dedicated fraud operations team is promptly dispatched. This team analyzes the detected anomalies further and determines, through follow-up contact with the impacted client, whether fraudulent activities were indeed involved. Initial contacts are established through trusted channels and direct phone communication. Depending on the outcome of the investigation, further collaborative efforts may be initiated on an operational level.
Fraud Prevention Disclaimer ⚠️
It is essential to note that while ING provides this information on fraud prevention techniques, no guarantees can be made with respect to its effectiveness against any specific occurrences of fraud. Companies should use this information at their own discretion and understand that they assume full responsibility for implementing such safeguards. ING assumes no liability for your reliance on and the actions taken as a result of this information. This disclaimer complies with Dutch law.
For more information on fraud prevention best practices, visit ING’s banking safely page.