Case Study: a Fortune 500 bank prevents insider fraud with Teramind

Fortune 500 Bank protects 40 million customers from insider fraud with Teramind

A Fortune 500 bank faced the challenge of nearly undetectable insider fraud, where corrupt employees used burner phones to copy sensitive customer data. Their existing security measures could not provide oversight into how employees interacted with sensitive data within custom applications, leading to inaccurate alerts and an inability to investigate effectively. The bank engaged Teramind to implement its behavior analytics platform to address this critical issue.

Teramind provided a custom solution using in-app field parsing, user and entity behavior analytics (UEBA), and scriptable rule logic. This gave the bank granular visibility into employee activity, enabling them to detect anomalies and automatically respond to unauthorized behavior. The results included enriched threat intelligence with forensic evidence, streamlined incident triage, and the creation of a proactive insider fraud mitigation program that also achieved regulatory compliance, ultimately protecting its 40 million customers.