In a world of constant threats, real-time detection and prevention make all the difference.
Imagine starting your day with the news that millions of your bank’s customers have fallen victim to a cyberattack. This became a reality last year when cybercriminals claimed to have gained access to Santander Bank’s data, demanding millions of dollars in ransom. While the bank did not confirm the exact details, it admitted to a data breach. This incident highlights the growing scale of cyber threats and the urgent need for more effective protection.
Modern fraud schemes combine social engineering, technological manipulation, and financial deception. Attackers exploit weaknesses in traditional security measures using tactics such as credential theft and payment interception.
According to the European Central Bank, losses from fraud in key payment methods reached €4.3 billion in 2022. In Greece alone, cardholders lost €13.5 million in 2023, part of the total €23.8 million lost due to card fraud—marking a 47% increase compared to the previous year. The rise in online transactions contributed to a 43% surge in fraud incidents.
As attacks become faster and more targeted, traditional detection methods—based on historical data—fail to keep up. Businesses need solutions that can identify and prevent fraudulent transactions in real-time while minimizing false alerts.
INETCO BullzAI, exclusively represented by Printec Group in financial institutions across Greece and Central and Eastern Europe, addresses these challenges. With real-time transaction monitoring, Advanced Machine Learning, and User Behavioral Analytics, INETCO BullzAI enables banks to detect and stop suspicious activities before any damage is done. This reduces financial losses and regulatory risks.
"By collecting and analyzing transaction data, INETCO BullzAI enables immediate detection of suspicious activity," says Renata Foteinou, CMGO of Printec Group. "This helps organizations respond swiftly and effectively, safeguarding their customers."
Bijan Sanii, CEO of INETCO, adds: "Unlike traditional solutions that overlook incidents or mistakenly block legitimate transactions, INETCO BullzAI provides essential protection across all payment channels. Our AI-powered solution empowers businesses to fight fraud without compromising the customer experience."
Ultimately, given the speed at which cybercrime evolves, financial institutions must always ensure maximum security for their customers while delivering a seamless user experience—free of delays and errors. This is precisely the balance achieved by businesses that trust INETCO BullzAI.
Read the article in greek as it was published in the special edition of Netweek "Digital Trust":
