A Business Email Compromise (BEC) attack leads to the immediate pain of lost funds and research shows that losses through Vendor Email Compromise (VEC) attacks are 2x more substantial than other BEC fraud.
However, direct losses are just the tip of the iceberg. Businesses will suffer additional financial and non-financial
• Fines, penalties and litigation costs
• IT/ business crisis management and remediation
• Business interruption and loss of focus
• Damage to brand image and reputation
• Customer churn
CSIS’s Email Fraud Protection solution is available as an application for Microsoft Office 365 and provides an added security layer to your existing email security and internal control systems. The software is installed directly on your Microsoft Office 365 instance, where it monitors and analyses all inbound, outbound and internal emails for indicators of fraud.
Unlike traditional email fraud solutions, EFP continuously monitors emails, reacting in real-time to fraud attempts. The software uses CSIS’s unique FRAUD LOGIQ engine to process data, determine a risk profile for individual emails and invoices and provide a recommended action. The software is built and maintained by our fraud specialists, in close collaboration with our customers, including international banks and finance professionals.
EFP is easy to install as a Microsoft Office 365 cloud app for the entire organisation. During setup, you can choose to protect all your organisation’s mailboxes, or you can individually enroll selected ones.
All inbound and outbound emails are monitored for financial content. Any emails with financial content are flagged and assessed for their risk level. Suspicious emails are detected, and selected employees can be alerted.
Non-suspicious emails are delivered and put on a watchlist for continuous monitoring for 7 days. A unique feature of EFP is that, during this time, the solution will provide an alert if any emails on the watchlist are flagged.
The solution integrates with various online banking providers and selected online payment control systems. Through these integrations, users will be prompted with alerts in a familiar language and a known environment and can take the necessary actions from there.
We provide 24/7 support which our customers can rely on for product support and expert advisory services.