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The identification of the Shylock Malware in 2014 led to the unravelling of a highly-sophisticated scheme where the proceeds of fraud were being laundered through a complex international network of money mules.The criminal network behind this developed sophisticated exfiltration methods so as to avoid bank checks and transaction monitoring methods.
There is evidence that the use of money mules continues to grow - many recruitment sites remain in operation, with criminals seeing this as an effective way to launder funds and avoid banks' detection.
In this webinar, Gareth Evans, Senior Fraud Consultant at BAE Systems examines the technology advances that can enable Counter Fraud and Anti-Money laundering specialists to trace mule activity on accounts. He unpicks the Shylock malware case study to show how the chain of events is relevant to current money laundering schemes.
This webinar covers:
- Understanding the criminal activity chain to prevent the 'money-out' end goal;
- Behavioural and transaction-based patterns that indicate mule activity on the account;
- Using network analytics to identify muling activity across multiple accounts.
Download the full recording to learn more, or get the webinar slides here.