uncover the unknown clear. confident. action · 2019-10-14 · clear. confident. action april 2017....

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This presentation and the information herein, are the exclusive properties of Thetaray Ltd., and shall not be disclosed, in whole or in part, to any third party or utilized for any purpose other than the express purpose for which it has been provided. Viewers of this presentation are not permitted to copy, distribute, retransmit or modify any of the information in this presentation, whether in electronic or hard copy form, without the express prior written permission of Thetaray Ltd. Ltd may update, amend, supplement or otherwise alter the information without prior notice

UNCOVER THE UNKNOWN Clear. Confident. Action April 2017

Proprietary & Confidential 2


The Threat Environment Different Motivations, Billions Of Devices, Multiple Risks, The Threats Are Everywhere, Infinite Data Sources

Unexpected Failures

Unauthorized Access

Perimeter and Rule-based Security Has Failed!

Cyber Criminals

Social Engineering

Cloud & Virtual Networks

Fraud

Web & Mobile Access

Computer Networks

6


$630M money laundering

fine imposed by The New York State financial regulator & UK’s Financial conduct authority on Deutsche Bank

Financial Threat Landscape

4

Every

15 Sec.

More than

1,000,000 incidents of financial fraud occurred in the first six months of 2016

ATM attackers in NY steal $45M

Hackers Hit Bangladesh central bank using SWIFT network stealing

$81M

Commerzbank fined $1.45B for failure to detect and report suspicious transactions


02468

101214161820

Industry Trends

5

DATA CREATION HAS EXPLODED - 90% of data in the world has been created in the past 2 year

UTILITIES GENERATE MORE DATA THAN EVER BEFORE

CHEVRON’S DATA OCEAN IS GROWING:

½ Terabytes

> 100,000 Machines

2 TB/Day 1997 there were 5 TB in the entire company

http://www.cisco.com/web/HR/ciscoconnect/2014/pdfs http://www.intelligentenergyevent.com/__novadocuments/48544?v=635304122638270000 http://isites.harvard.edu/fs/docs/icb.topic1346257.files/Big%20Data%20Powering%20the%20Next%20Industrial%20Revolution.pdf http://www.ge.com/docs/chapters/Industrial_Internet.pdf

Generated Per Day

Emitting data

NY Stock Exchange Per Day

Boeing 787 Per 30 min flight

1 5

20

Largest Bank India Data Per Day

The US Library of congress = 160 TB of Web Data

= 2

= 6

= 393

1 Year

= Filled Library of congress

TERABYTES OF DATA COLLECTED BY ORGANIZATIONS

http://www.cisco.com/web/HR/ciscoconnect/2014/pdfs


RULE BASED DETECTION • Require predefined parameters/patterns

• Based on prior knowledge of risk/threat

Traditional Methods Are Limited

6

Conventional rule-based solutions cannot detect unknown risks

FUNCTIONAL LIMITATIONS • High rate of false positives

• Limited set of parameters

• Provides a partial perspective


ThetaRay Advanced Analytics Platform

7

Hyper-Dimensional, Multi-Domain, Big Data Analytics™

Multi-Domain Data

Anomaly Detection Engine Event Monitoring

Financial Data

Network Traffic & Logs

Business Transactions

Machine Data


KEY FINDINGS

8

Consumer Lending (Mortgages)

8

12 High - Risk Application • Total loan value > 9M Euro • Suspected internal fraud • "Borderline” approvals

Non-Risk Events • Abnormal business processes • Operational compliance • Data Integrity

Speed to Value • 1 week prep • 2 weeks on-site

Resources • Data expert • Fraud analyst • IT support

CUSTOMER • Large European Bank • Mortgage department Risk Management

& Operations

CHALLENGE

• Detect unknown valuable events • Higher level of assurance compared to the

existing control framework • Fast time to value • Increase efficiency & reduce cost of credit

risk processes

RESULTS

• 30,000 approved mortgage applications • Customer, demographic, income etc. • Property information • Product


KEY FINDINGS

9

CUSTOMER

• On boarding Duration: 9 days

• 12 unknown events including suspected fraud, abnormal activity and operational deficiencies

• Transforming weeks of investigation to hours with pin-point forensic information

• Global Top10 US Bank, Information Security department

“High-Impact” Security Event • Including 71 similar anomalies

(internal transfers, bunch deposits)

• Anomaly transaction amount - from $1M to $4.3M (total > $100M)

Suspected Fraud /Abnormal Customer Activity • Multiple fixed-Interval

Withdrawals – 63 withdrawals of 50$ in 45 min session

• Multi-card session – multiple cards (chip, magnetic) used in same session

• Rules creation/enhancement based on the detected patterns

• 2,520 ATM machines (North America)

• ATM transactions and logs

• Beneficiaries and Accounts tables DATA

RESULTS

ATM Security


ThetaRay Core Infrastructure

10

COLLECTION • Data handling • Storage

ANALYSIS APPLICATIONS • Forensic investigation • UI, reporting, management

• Math/analytics core • Detection Algorithms

Analytics Platform

VERTICALS

Industrial Internet of Things Financial Institutions


Intuitive & Innovative User Interface

• Results Dashboard for accumulated results

• Configuration center for quick setup

• Forensics and extensive drill down capabilities

• Dynamic ,flexible workflow

• Graphic, Innovative & rich display

18


Unique Differentiators

12

Unmatched detection rates

Industry-low false positive rates

Rule-free, unsupervised, non-heuristic

101101 010100 110110

Math based big-data analytics

Automatic, real-time detection

Fast time to value days vs. months

ThetaRay helps financial organizations to boost operational risk detection and visibility across multiple departments and use cases


We Realize Everything Has Changed

13


Infinite Threats, Infinite Opportunities


Summary

15

INNOVATIVE TECHNOLOGY • Automatic, rule-free detection

• High detection rates, low false alarms

• Detect “Unknown-Unknowns”

EXPERIENCED TEAM

GREAT PARTNERSHIPS

A REAL NEED • Minimize exposure and impact

• Rule-based systems are not enough

• Almost unlimited target market

TIER 1 FINANCIAL INSTITUTIONS


This presentation brought to you by ThetaRay Ltd


Contact Information

www.thetaray.com

Chief Executive Officer

+972547777577 +1(202)5690729

[email protected]

Mark Gazit

uncover the unknown clear. confident. action · 2019-10-14 · clear. confident. action april 2017....

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