Case Study: a regional US Bank discovers insider fraud rings with Siren

Regional US Bank discovers insider fraud in weeks with Siren

A regional US bank suspected it had a significant insider fraud problem but was unable to substantiate its concerns or identify any specific issues using its existing fraud alerting systems. The bank's management was concerned the issue was systemic and would escalate. To address this challenge, they engaged Siren through a consulting partner.

The Siren solution, implemented by a top consulting firm, joined disparate data sets including transactions, device logs, and invoice records into a knowledge graph. This provided investigators with unprecedented insight, revealing previously hidden collaboration patterns between internal staff and external parties. Siren enabled the bank to successfully discover and visualize active insider fraud rings, which had not been apparent with their legacy systems.