In recent days, criminals have taken advantage of the mentality of some ordinary people who lack understanding of digital renminbi and want to actively participate, under the banner of "digital renminbi", and continue to use renovation tricks to commit fraud, causing people's property loss and information leakage.
Facing the new situation, on the basis of increasing anti-fraud advocacy to the public, what should financial institutions, which are important participants in the digital renminbi, do in this anti-fraud, anti-counterfeiting and invisible anti-money laundering operation?
New topics in safety and risk control
"In response to the new issue of digital renminbi fraud risk, commercial banks and payment institutions need to upgrade front-end account identification and verification, merchant information due diligence and transaction terminal security authentication, and then improve the monitoring of abnormal capital transactions, especially regarding abnormal digital renminbi transactions. Real-time screening rules and early warning models, strengthening account and merchant management and other technical means are multi-pronged, accurate perception, dynamic defense, blocking suspicious transactions, and cutting off problematic funding links." Tongdun Technology Industry Security Expert, Payment Clearing The lecturer of the Association’s anti-fraud subject, Wei Wei, suggested that commercial banks and payment institutions should focus on these things:
1. Focus on the abnormal capital chain and upstream and downstream accounts related to digital renminbi, strengthen the suspicious risk transaction detection of digital renminbi wallet KYC and recharge and exchange functions, pay attention to and improve the security certification of the co-construction app, prevent and identify The risk of account wallet being stolen and used, transferred and paid, withdrawn and recharged, copied and stolen, etc., and strengthened the capture of timing characteristics on the business link, real-time analysis and real-time warning.
2. Further enhance the monitoring of suspicious fund transactions, build an intelligent real-time and quasi-real-time detection system for the abnormal flow of funds involved in money laundering cases such as abnormal signing, card binding, and recharging of digital RMB, as well as the characteristics of abnormal transactions, so as to effectively improve the ability to accurately identify risks.
3. Comprehensive investigation and identification of digital renminbi-related transactions and associated counterparty fund accounts, timely cut off the transaction funds payment link, and for the characteristics of high frequency of digital currency transactions, multiple accounts, and decentralized transactions, knowledge graph technology can be introduced for traceability analysis and association Analysis and analysis of concatenation cases, and further excavation of the gangs involved.
“Fundamentally speaking, financial institutions need to strengthen the real-time management and control capabilities of abnormal capital chains in response to the new risks and new characteristics of digital RMB transactions, from understanding customers and risk identification to transaction control in the early stage, and cutting off fraudulent transaction links. We will improve the fraud prevention system for digital renminbi transactions in terms of post-event risk rating and feedback strategy optimization," said Yuewei.
KYC+ trusted system
According to Weiwei, the recent fraud routines for digital renminbi scams mainly focus on defrauding and embezzling the victim’s personal information, stealing and using the user’s digital wallet and bank account, and it does not rule out the existence of renting or purchasing other people’s mobile phone cards, bank cards/accounts, etc. Illegal activities such as digital renminbi wallet accounts.
In the process of illegal fund transfer transactions through digital renminbi wallets, a large number of inter-bank decentralized small-amount fund transactions are often used, which greatly increases the difficulty of the bank's identification of transaction accounts.
In response to these characteristics, banks need to focus on the abnormal capital chain related to the digital renminbi and its upstream and downstream accounts, as the first line of defense for account security.
It is necessary to build a thematic data model of digital currency transactions covering customer identity, behavioral information, risk status, transaction environment and associated relationships, support the identification of currency-related transaction customers, and build a set of data based on user portraits, transaction behavior, equipment environment, and accounts A credible system for risk ratings, etc.
In addition, financial institutions can also analyze the characteristics of the cards involved, recharge accounts, basic personal information, related party information, internal and external label information and equipment, mobile phone numbers, IP risk lists, etc., based on the currency transaction account data they have mastered, and Combining external data to effectively identify currency-related accounts; and use machine learning models to make credible judgments and identify whether transaction users conduct customary transaction behaviors, commonly used equipment, trusted environment, and time based on their own accounts. The risk detection of whether the user is stolen or traded without his or her own will.
Digital wallet transaction monitoring
Digital RMB is based on its dual offline payment, new technology encryption to ensure security and controllable anonymity. Its legal currency itself has strong security technology blessings. The risk defense of its carrier digital wallet and bank account has become a hot spot for this new technology. Risk prevention and control is the top priority.
Therefore, the security management of digital renminbi wallets, inter-bank fund transfers between digital renminbi wallets, and inter-bank fund transfers between digital renminbi wallets and accounts require financial institutions to carry out more targeted feature capture and abnormal transaction monitoring, and pass rules Strategies, digital currency transaction scenario analysis models, graph analysis and other means to identify abnormal and suspicious transactions, increase the comparison of abnormal behavior characteristics in time series, and provide early warnings for merchants or individuals that may have abnormal transactions, based on the output of the analysis results, manual review, Reject, improve the efficiency and accuracy of risk monitoring of currency-related transactions.
Strengthen the two-line management of accounts and merchants
On the basis of effective KYC and credible systems, digital wallets and currency-related transaction monitoring, financial institutions should build currency-related feature calculations, currency-related rules, models, and graph analysis through the data supply of big data platforms and risk control bazaars. The system finally generates a list of digital currency transaction accounts/merchants, cuts off the capital transaction link involved, completes risk treatment and effect analysis, and feeds back the optimization of risk control strategies.
Financial institutions also need to combine the characteristics of illegal fund transfer transactions and focus on monitoring suspicious "receiving accounts", because in many problem transactions, the transfer or payer often changes the "vest" account or false top-up, payment transactions, etc. To evade bank risk control, banks and payment institutions need to further establish a risk list database for illegal fund transfer transactions and implement "zero tolerance" crackdowns on illegal transaction accounts.
Introduce knowledge graph technology, find out according to the graph, and strengthen the traceability ability of the capital chain
Many currency-related fraudulent fund transactions are gang actions and the upstream and downstream division of labor is clear. Financial institutions need to guard against digital renminbi fraud and crimes by online gambling, money laundering and other gangs. Therefore, Weiwei recommends that financial institutions should combine knowledge while setting up control models for accounts or merchants. Graph technology, in-depth mining of currency-related upstream and downstream accounts, traceability analysis, association analysis and other group detections against group crimes.
The knowledge graph can help financial institutions build a complex network of entities and entities based on data analysis and scenario analysis, and apply abnormal relationships and risk characteristic models to the knowledge graph, dynamically calculate risk propagation paths, results, and influencing factors, and effectively explore The potential risks of digital currency transactions.
Introduce risk situation awareness system
In addition to focusing on the connection between digital currency, wallets and the financial system, and adopting measures such as "discontinuing payments", financial institutions can also actively learn and identify unknown abnormal events to sniff potential currency-related transaction risk fraud patterns.
The terminal security risk situational awareness system, based on device fingerprint technology and network-side data, combined with big data processing technology, business knowledge precipitation, and AI algorithm model, can actively lock new risk sources that threaten existing systems and information, and achieve comprehensive The overall closed-loop link of active perception, detection, defense, visibility, linkage, and traceability of network risks.
The digital renminbi is still in the early pilot stage, and the ecological defense system is still in the process of continuous improvement.
Tongdun Technology stated that it will continue to explore and research, and continue to provide financial institutions with more complete financial business security solutions.