Such tools have helped credit card companies reduce fraud from roughly US$0.18 per $100 about 15 years ago to just over US$0.05 per $100 currently, and can help in the retail banking sector, he said.

"Because you can"t possibly know all the places where there might be leaks, what you need is this final view of the entire behavior of an account," Crooks said.

Another company that offers similar technology is New York-based Actimize Ltd., whose suite of fraud prevention products is aimed at helping financial institutions deal with online issues such as account takeovers, identity theft, and check and account application fraud.

"Today in the credit card world, every single transaction is scored for the chance of it being fraudulent," said Naftali Bennet, CEO of Cyota Inc., a New York-based vendor of fraud management technologies for the banking sector. Banks, too, need to put in similar monitoring systems to score every single activity for risk, particularly at a time when phishing, pharming and targeted Trojan attacks are becoming more common, he said.

"It"s important to secure against today"s and tomorrow"s threats," Bennet said. "Many authentication solutions that seem like magic bullets today will not stop fraudsters," he said.

-- Eric Lai contributed to this report.