Workplace Os33

Social engineering, Switzerland - CHF 1,000,000

The fraudster impersonated a bank customer and asked the banking employee to order a transaction of CHF 1,000,000. The banking employee was scammed, believed that the fraudster was the customer and validated the transaction.

Although the case involved a new client with little historical data, NetGuardians blocked the payment because the transaction was unusual at the bank level, and the beneficiary account was also unusual.

Matt Gonnering - Widen

Account takeover, The Netherlands - CHF 33,170

The fraudster impersonated a bank agent and through social engineering persuaded the customer to release his/her e-banking login details. The fraudster took over the customer’s account and made a payment of CHF 33,170 to an account of their own.

Sentinel Recovery tracked the transaction as fraudulent and reverted it because the e-banking metrics – e-banking language, browser, screen resolution, etc – did not match the customer’s usual profile.

Pangea Customer Story

Social engineering, The Netherlands - CHF 22,114

The customer, a victim of vishing, gave his/her e-banking credentials over the phone to the fraudster posing as an agent. The fraudster then took over their e-banking and transferred CHF 22,114 to an illicit account.

Although the case involved a new customer with little historical data, Sentinel Recovery effected a reversal because the transaction characteristics were unusual at the bank level, as was the screen resolution.

Shippo - customer story (Perdoo)

Tech support scam, Lithuania - CHF 7,500

The fraudster impersonated a Microsoft tech support worker and called the victim. Through social engineering, the fraudster managed to obtain enough information about the victim’s e-banking to transfer USD 7,500 to an illicit account.

Sentinel Recovery reverted the transaction due to its variables not matching the customer’s profile, noting the unusual currency, operation type, beneficiary account, beneficiary country, account ID, and account type.

Workplace Os33

Account takeover, Great Britain - GBP 21,000

A fraudster impersonating a banking agent persuaded a customer to disclose his/her e-banking login details through social engineering, took over the account and attempted a payment of GBP 21,000 to an illicit account.

Sentinel Recovery intercepted the transaction due to unusual e-banking and transaction variables, including unusual amount, screen resolution, beneficiary institution, beneficiary account, e-banking session language, and currency.

Matt Gonnering - Widen

Authorized Payment Fraud, Spain - EUR 125,000

Using social engineering techniques, the fraudster convinced the bank customer to transfer EUR 125,000 to an illicit account.

Sentinel Recovery tracked and reverted the transaction as certain variables did not match the customer’s profile, including the transaction creation day, the beneficiary account, beneficiary country, operation type, order type, and currency.

Pangea Customer Story

Impersonation, Spain - EUR 170,000

The fraudster impersonated the CEO of the account holder’s company and over email convinced the victim to pay EUR 170,000 into an illicit account.

Sentinel Recovery tracked and recovered the funds sent via the transaction due to unusual variables including the beneficiary account and country, the operation type, order type, and currency.

Shippo - customer story (Perdoo)

BEC fraud, Peru - USD 100,000

A company employee fell victim to a business email compromise (BEC) fraud after their business partner’s email account was hacked and the fraudster sent a fake email from this account requesting a payment of USD 100,000 to a beneficiary in Peru.

Sentinel Recovery reverted the transaction due to the unusual destination country, payment creation date, and beneficiary account.

Workplace Os33

Investment fraud, Bulgaria - USD 170,000

The victim was advised by a fraudster impersonating a business partner to invest in a fictitious company and ordered a payment of USD 170,000.

Sentinel Recovery stopped the transaction due to variables not matching the customer’s profile, including the unusual destination, beneficiary bank, beneficiary account, amount, and currency.

Matt Gonnering - Widen

Scam, Belgium - EUR 32,000

A customer fell victim to social engineering and was scammed on the purchase of a car. When the customer tried to pay a non-existent car company, Sentinel Recovery stopped the payment before the money had left the bank.

Sentinel Recovery blocked the transaction because of a number of unusual variables. These included an unusual beneficiary for the customer and the bank as well as the unusual amount and destination country.

Pangea Customer Story

Internal fraud, Kenya - USD 500,000

Fraudsters manipulated internal accounts in one bank to send money to another bank, who are protected by Sentinel Recovery. The fraud was detected in real time and the fraudsters were arrested while attempting to withdraw USD 500,000 (KSh 58 million) from the second bank’s ATMs.

Sentinel Recovery prevented the fraud due to the unusual timing and frequency of ATM withdrawals. After the detection of the fraud scheme by our solution, fraudsters were successfully caught by the police using the cameras installed at the ATM’s.

Shippo - customer story (Perdoo)

Employee collusion, Philippines - CHF 7,500

A rogue employee exploited a misconfiguration of the core-banking system that allowed direct debit transactions to be posted on dormant accounts. The fraudster then attempted to withdraw the funds.

Sentinel Recovery spotted the fraud because the transactions did not match the customers’ historical profiles.

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