Development of a Payment and IS Event Analysis Procedure for BCS, LLC

Project completion date:

March 21, 2014

The Customer:

BCS, LLC is one of the leaders of the Russian broker services market. The company has an extensive chain of affiliates: as of November 30, 2012, it had 63 offices and over 70 agency offices in the largest cities of Russia. The BCS Financial Group is one of the major operators on the Russian stock market in terms of its customer base: over 100,000 clients obtaining broker services. At the same time, the company is the absolute leader among Russian brokers by the number of customers being legal entities: more than 3.7 thousand companies operate on the stock market via BCS.


To develop a procedure for handling fraudulent transactions conducted as if on behalf of customers within the company’s e-banking system and implement a mechanism for identifying fraudulent transactions.

Business needs:

When the project was launched, the company was using a well-developed procedure for handling fraudulent transactions with plastic cards. Further development of remote services for the company’s clients resulted in a decision to develop a similar procedure for the private e-banking system.


To automate the procedure for handling fraudulent transactions within the private e-banking system, the ArcSight platform was selected. BCS also uses the ArcSight platform for solving routine information security issues and with regard to a number of SIEM systems.

Description of the solution:

As a part of the project, a concept for identifying several dozens of signs of fraudulent transactions was implemented. The concept relates to several complexity classes: lists, rules and user profiles. A risk management model was developed to take into consideration not only the payment order details for risk calculations but also the client’s behavior during a session and compliance of the user actions with its automatically generated profile. The procedure also provides reports and data visualization tools for the purposes of carrying out investigations and comprehensive analyses of client actions as well as assessing the efficiency of the implemented antifraud concept.


As a result of the project, the procedure for identifying high-risk client transactions within the private e-banking system was automated. Moreover, a platform for building up the potential for identifying fraudulent actions both in the field of banking and other services, for example, broker services, was launched.