Behavioural Biometrics: The only way to fight evolving fraud techniques
Fraudsters have the upper hand
How to break the cycle
October 13, 2020
Fraudsters have the upper hand
How to break the cycle
At Cybertonica we Trust in Transaction. We make systems to make trust and frictionless commerce safe and secure for businesses and consumers. We know that outdated rules and operations occasionally introduce almost Kafka-like situations and thought it would help us to see the end customer and merchant point of view.
So we decided to collect stories from the people in our network and customers as well as their clients telling us how their e-commerce is going in this period – both the nightmares and the nice surprises.
We asked them to tell us about their online shopping experiences during the lockdown to paint a vivid picture for the merchants. From surprise champagne deliveries to account takeovers, we have some good stories lined up for you!
– Banking in Latin America
– Effect of Covid-19 on Latin American banking
– Key risks of bancarization in Latin America
– How does SIM swapping work?
– SIM swappers struck – what next?
– The role of the bank in stopping SIM swapping fraud
– Behavioral biometrics analysis overcomes the failings of two-factor authentication
– Profiling cybercriminals, one simjacker at a time
– How unauthorized fraudsters use compromised customer data and phishing techniques to attack online banking platforms
– Leverage behavioral biometrics and AI to make real-time decisions
– Assess the risk of entities holistically, not only relying on PII
COVID-19 continues to spread rapidly and the economic crisis escalates globally every day in the face of the pandemic. The humanitarian cost and stress on health systems and infrastructure induces fear and uncertainty, affecting lives and livelihoods on a daily basis. One area of great significance is the threat of illiquidity among partners and cashflow crises that damage or destroy once stable businesses. Cybertonica is building a new feature for Acquirers that predicts cash flow impacts and liquidity problems Merchants may face so that the payments operator can react appropriately, maybe vary conditions or seek to terminate a relationship if there is a risk of bankruptcy or fraud.
Cybertonica CEO and Co-Founder Joshua Bower-Saul along with Tony Craddock of The Payments Association discussed the Impact of COVID-19 on Payments Security at Payment Systems Regulation and Innovation Online Conference on June 4th, 2020.
Hosted by City & Financial Global, Payment Systems Regulation and Innovation Online Conference focused on all aspects of payments innovations, including regulatory framework, in the context of the new challenges brought on by the current global crisis.
Issues covered in the event include:
– Reducing the risk of fraud and cyber risk with and within the next generation of payments security
– Shaping and re-shaping the payment industry: privacy, data access and regulatory considerations
Online crime gangs have used the coronavirus pandemic to scam consumers and businesses across the globe. So, this blog examines 4 key types of Covid19-related fraud to help keep you and your business safe.
