Oversight Technologies.

Oversight Technologies has launched what it says is the "first continuous transaction incident monitoring system to tackle the threats from authorized users performing unauthorized transactions." The Atlanta company's patentpending system monitors enterprise financial systems to detect, prevent and deter financial loss from systems-based fraud, misuse and errors.

The Oversight system provides enterprises with independent, real-time insights into the integrity of individual financial transactions against corporate policies and procedures. Oversight employs a variety of automated data monitoring and collection techniques across multiple business systems to detect inappropriate and suspicious activities that indicate errors, control overrides or fraud.

"While IT security has traditionally focused on securing the perimeter against outside threats, Oversight Technologies addresses the much larger need to secure financial systems from 'business hackers' or authorized users who employ their knowledge of business systems to perform unauthorized transaction," said Matthew Kovar, director of security services and solutions for the Yankee Group. "Continuous transaction incident monitoring delivers value to the bottom line by detecting real financial losses. While the application of these concepts and technologies plays a key role in regulatory compliance, the direct dollar savings alone justifies its deployment."

Oversight claims that the system "combines the benefits of a systems auditor, fraud examiner, forensics auditor and an information security specialist on duty 24X7 to monitor the effectiveness of internal controls."

Web: www.oversighttech.com

Material for these items has been taken in many cases from promotional materials supplied by the companies, which have not paid to appear in the column.