What happened
NICE Actimize has launched the Actimize Insights Network, a new intelligence network that provides financial institutions with real-time visibility into counterparty risk and fraud patterns to help prevent fraudulent transfers before they occur.
Who is affected
Global financial institutions, including banks and payment service providers that face increasing threats from authorized push payment (APP) scams, business email compromise (BEC), and other fraud schemes, are directly impacted by this development.
Why CISOs should care
Cybersecurity leaders in financial services must address sophisticated fraud that traditional systems often miss. The Insights Network augments internal controls by leveraging cross-institution intelligence, enabling better detection of anomalous activity and reducing blind spots in fraud and AML operations.
3 practical actions
- Evaluate collaborative intelligence platforms: Assess how network-based fraud intelligence can complement existing fraud and AML systems to boost detection accuracy.
- Integrate cross-channel signals: Work with fraud-prevention teams to incorporate cross-channel risk signals into real-time monitoring and response workflows.
- Review counterparty risk posture: Update risk models to include external fraud indicators and counterparty behaviors that extend beyond internal transaction history.