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Clients:
Fintech company
Scenario
Suspicious activity identified on customer accounts by the client’s in-house AML system.
Objective
Mitigate potential financial loss and protect customer data by:
- Identifying and isolating compromised accounts.
- Investigating the source and nature of the suspicious activity.
- Contacting affected customers and assisting with account recovery.
- Enhancing security protocols to prevent future incidents.
- Reporting the incident to relevant authorities within the company.
Response Initiated
Identify & Isolate
The SOC analyst team identified the affected accounts and informed the IT team to halt the respective accounts to prevent further fraudulent activities.
DFIR Investigation
Our team of analysts began the examination with account activity logs, network traffic, and login attempts to identify the source and nature of the suspicious activity.
Customer Contact
The affected customers were contacted directly, informed about the situation, and were guided through the client’s support team to reset their passwords and verify recent the resumed transactions.
Remediation & Reporting
Based on our DFIR team’s findings, the security team initiated the safeguarding of account security protocols (e.g., MFA, Biometric, etc.) and the detailed incident reports were handed over to the relevant authorities within the company.
Benefits
Reduced Financial Loss
- By swiftly identifying and isolating suspicious activity, potential financial losses from unauthorized transactions are minimized.
Enhanced Customer Protection
- Proactive communication with customers and guidance through password resets protects their accounts and minimizes inconvenience.
Improved Regulatory Compliance
- The documented incident response process ensures adherence to AML regulations and reporting requirements.
Strengthened Security Posture
- Implementing additional security measures like MFA based on the incident strengthens future account protection.
