The billionaire cost of fraud
in financial institutions.

U.S. Financial institutions has seen a raise on cost of fraud of 9.3% on average in 2018 and faces increasing challenges on mobile fraud each year. Customers rely on mobile transactions to manage instantly their assets. It’s that sense of urgency that we all have today that make target on mobile devices more interesting for the thieves. Customers also expect data and transactions to be completely private and secure, as the service is provided by its financial institution.

 

RSA Quarterly Fraud Report Q4 2018 shows that over 70% of fraud is done through a mobile browser or mobile app. Fraud is becoming harder to detect, because the phishing website is set up to only register on mobile phones, among other methods.

How can Samoby help financial institutions with mobile threats?

Samoby can offer financial institutions with a Mobile Threat Defense solution that detects, reports and remediates mobile threats. This includes network attacks, like Man in the Middle (or MITM), mobile phishing, OS vulnerabilities or malicious or suspicious app installation.

Our solution remediates threats on the same device, with no need to connect to any server, or derive all the mobile traffic through third parties VPN servers, posing a privacy and even security threat itself.

That’s why Samoby acts silently, with no impact on device performance.