Tag

fraud

Mar 20
0

The Evolution of Behavioral Biometrics from Edge Case Defense Layer to Essential Component for Customer Trust

By | Biometric Summit 2023 | No Comments

The technology advancements powering today’s highly-personalized customer experiences also provide the perfect tools to launch and scale automated, high-velocity fraud attacks. Artificial Intelligence (AI), machine learning and cybercrime-as-a-service technologies support next-gen attack vectors that fraud networks can easily leverage and continuously evolve. Fraudsters are capitalizing on infinite ways to target digital ecosystems: from launching fast-paced bot attacks to directly leveraging vulnerable consumers for sophisticated social engineering and scams. How can businesses future-fit their fraud strategies to stay in front?

Join Rob Woods, Director Market Planning, Fraud and Identity, and Neil Costigan, Chief Architect, Behavioral Biometrics Solutions from LexisNexis® Risk Solutions, for this session on “The evolution of behavioral biometrics from edge case defense layer to essential component for customer trust” at Goode Intelligence’s Biometric Summit 2023 on Thursday 23rd March. The session is from 11.00-12.00 GMT.

Get the latest industry perspectives on intelligently leveraging the resiliency of behavioral biometrics to inform an agile fraud approach that centers around customer trust.

This session illustrates the progression of behavioral biometrics technologies and highlights how they have become key capabilities in a future-forward fraud strategy. Get the latest insights on:

  • Intuitively detecting the signals that indicate scams coercion or social engineering
  • Proactively defending against emerging AI threats by strategically deploying AI and ML-driven tools
  • Dynamically improving identity trust with every interaction
  • Effectively incorporating behavioral biometrics technology into essential customer touchpoints

Find out our top insights for building a real time, highly-responsive fraud defense during this informative session.

To register for the event please register here.

 

 

Mar 17
0

Why Behavioral Biometrics is Becoming an Essential Component for Customer Trust

By | Biometric Summit 2023 | No Comments

This article has been written by Rob Woods, Director, Market Planning Fraud & Identity, LexisNexis Risk Solutions, to accompany their involvement as a sponsor in a live session; “The Evolution of Behavioral Biometrics from Edge Case Defense Layer to Essential Component for Customer Trust” at the Goode Intelligence Biometric Summit 2023 on 23rd March. Register here to attend.

Why Behavioral Biometrics is Becoming an Essential Component for Customer Trust

Staying centered on customer trust as AI accelerates the fraud threat climate

Closing windows of opportunity for networked fraud is an imperative for sustained success in today’s hypercompetitive digital marketplaces. Trusted customers anticipate tailored conveniences and targeted security features across their journey and they are quick to abandon transactions falling outside their expectations. The technology advancements powering highly-personalized experiences are also providing fraudsters with the perfect tools to launch and scale automated, high-velocity attacks. Artificial Intelligence (AI), machine learning and cybercrime-as-a-service technologies support next-gen attack vectors that industrialized fraud networks are easily leveraging and continuously evolving.

Recent statistics illustrate how fraudsters are expertly targeting digital ecosystems:

  • Scammers find increasingly creative ways to coerce customers into diverting funds into fraudulent accounts.1
  • High-velocity automated bot attacks increased +38% year over year (YOY) according to data from the LexisNexis® Digital Identity Network®2
  • Automated attacks focused on password resets show a 247% YOY increase 3

Responding to emerging AI threats while keeping digital experiences centered on customer trust requires organizations to look beyond traditional fraud defenses with a real time strategy that works in parallel to prioritize identity trust and prevent fraud.

The evolution of behavioral biometrics from edge case to essential component

Behavioral biometrics technologies are key capabilities for answering the dual challenges of accelerated transaction speeds and the ever-intensifying nature of digital fraud threats. Today’s future-forward fraud strategy needs to account for the nuances of technology-driven threats as well as the vulnerabilities and fallibility of the end consumer. Incorporating behavioral biometrics technology into customer touchpoints positions a business to better inform an agile fraud approach focused on customer trust.

Behavioral biometrics is a non-intrusive and seamless way for companies to confidently identify genuine, trusted customers while maintaining a risk-appropriate level of friction for specific touchpoints or higher-risk events. Rather than looking at identity verification from a risk or fraud framework, behavioral biometrics analyzes authentication from a trust and experience framework:

  • Is it a human being performing the transaction, or are there automation patterns?
  • Is this a human we can trust?
  • Is it the right human who is authorized to perform this event?
  • Are they behaving in their usual way or do they appear under duress?

By evaluating how a user interacts with a device, webpage or application, behavioral biometrics solutions can accurately point out signals of unusual behavior. Behavioral biometrics enables organizations to proactively differentiate between a legitimate customer, a bot or a fraudster.

The inherent resiliency of behavioral biometrics makes it the perfect component for supporting a real time, highly-responsive fraud approach that keeps customer trust at the core. Utilizing behavioral biometrics enables businesses to dynamically improve identity trust with every interaction and simultaneously evolve their approach to reflect changing permutations and patterns of digital commerce. Behavior biometrics helps future-fit fraud strategies to support the personalized and secure customer experiences driving competitive advantage in today’s crowded digital marketplace.

 

Please visit https://risk.lexisnexis.com/products/behaviosec to learn more.

  1. The Account Takeover Epidemic: A Wake-Up Call For Chief Digital Officers (forbes.com)
  2. and 3. Data analysis from the LexisNexis® Digital Identity Network®, January-June 2022
Mar 02
0

Sponsor Announcement – LexisNexis Risk Solutions

By | Biometric Summit 2023 | No Comments

With three weeks to go until Goode Intelligence’s annual biometric summit – Biometric Summit 2023 – we are excited to announce that LexisNexis® Risk Solutions has joined us as a session sponsor.

LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. By bringing clarity to information, we ultimately help make communities safer, insurance rates more accurate, commerce more transparent, business decisions easier and processes more efficient. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools.

There are still places available for our virtual summit on 23 March – to sign up for free please register here.

Nov 16
0

Session Announcement – Lunch & Learn with Cifas

By | Digital Trust World 2022 | No Comments

We are excited to announce a new session at Digital Trust World 2022 in partnership with the UK’s leading fraud prevention community, Cifas.

Leah Birch, Product Marketing Manager, will be hosting a lunch and learn session in one of the venue’s executive meeting rooms. Grab some lunch and join Leah as she details who Cifas are and exciting news about a new digital learning product, Apollo.

Systems and processes are only as trustworthy as the people behind them. Cifas, UK leaders in fraud prevention, have created game-changing digital learning called Apollo, which delivers universal fraud training to your entire organisation. Apollo is a living, learning environment that prioritise behavioural change over ‘tick box’ learning, enabling your people to defend themselves and your business against a range of threats – from identity theft and social engineering, to the insider threat and online attacks. This talk will explain how your staff can be your organisation’s weakest link or its strongest defence, and demonstrate how Apollo can empower all your workforce – from C-suite to reception – to fight fraud.

Join us at Digital Trust World 2022 in London on Monday 21 November by registering today.

Nov 14
0

Speaker Announcement – Sam Ingrey – Cifas

By | Digital Trust World 2022 | No Comments

We are delighted to announce that Sam Ingrey, Head of Information Security at the UK’s leading fraud prevention community, Cifas, is joining the Fraud Management panel at Digital Trust World 2022 in London on Monday 21 November 2022.

Sam is the Head of Information Security at Cifas and has a wealth of knowledge and experience in InfoSec. Sam leads the development and maintenance of Cifas’ Information Security Management System (ISMS) which is certified to ISO 27001. This includes the InfoSec policies, standards, and processes that help protect Cifas against both the insider threat and external attack. Sam provides InfoSec risk assessments, as well as general security advice and guidance across the business, protecting Cifas’ information assets and systems, and reputation with its members and stakeholders. Prior to joining Cifas, Sam worked in Digital Forensics, and was an InfoSec and Data Privacy Consultant.

Sam joins UK Finance, JT International, Vodafone and FICO on an expert-led panel that will discuss the latest developments in managing digital fraud including the rise of Authorised Push Payment (APP) fraud.

With one week to go until the only conference dedicated to digital fraud, there are a limited number of delegate tickets available. Please visit our dedicated event website for more information in how you can attend.

Nov 04
0

Digital Trust World Session Spotlight – Fraud Management

By | Digital Trust World 2022 | No Comments

Monday 21st November 15.30 – 17.00 GMT

Title: Managing Digital Fraud – Sponsored by JT FPS

JT Fraud Protection Services is delighted to be sponsoring the fraud management session – Managing Digital Fraud,  a 90 minute session moderated by Clare Messenger, Global Head of Fraud Protection Services, JT International, with a panel of fraud experts, Dianne Doodnath, Principal, Remote Payment Channels at UK Finance, Fraser King, Head of Commercial Strategy & Global Business Development, Vodafone Identity Hub, Vodafone Carrier Services, Scott Taylor, Fraud Protection & Compliance Domain, Consultant, EMEA at FICO, and Sam Ingrey, Head of Information Security, Cifas.

Session Synopsis

There has been a significant growth in criminals employing social engineering to trick consumers out of their money.

The adoption of a digital-first approach by many consumers since the pandemic brings opportunity, and also brings risk. Criminals are finding increasingly innovative ways to commit fraud and steal people’s identity, personal details and money. In this panel session, industry representatives from the banking and finance sector and from solution providers will discuss the biggest problems facing businesses across all sectors today in the UK. They will review the measures and solutions being implemented to protect consumers and the legislation that needs to come into force. As technology and industry continues to evolve the panel will look to what the future may hold in terms of challenges and opportunities.

Hear the latest on UK fraud levels from UK Finance with excerpts from their latest half-year fraud report that highlighted the fact that over £600m was stolen through scams and fraud in the first half of 2022 with almost £250m of this being the result of Authorised Push Payment (APP) fraud.

Join leading fraud experts as they discuss the latest trends and developments in Managing Digital Fraud on 21 November in London. Registration is free for risk and fraud specialists working for an end-user organisation. Register here today.

 

 

 

 

Sep 29
0

Speaker Announcement – Scott Taylor FICO

By | Digital Trust World 2022 | No Comments

The “Managing Digital Fraud” at Digital Trust World 2022 panel is packed full of subject-matter experts and we are delighted to announce that Scott Taylor, Fraud Protection and Compliance Consultant for EMEA at FICO, will be joining us in London on 21 November 2022.

Scott joined FICO in 2018 as Fraud Protection and Compliance Consultant for EMEA and brings with him over 34 years of Financial Services experience, from working at Royal Bank of Scotland (RBS). At RBS, Scott was the Head of Investigations & Support, Fraud & Chargeback Operations where he led over 400 staff across four Operational Centres in the UK & Ireland. He also provided management support for the RBS Fraud & Chargeback Centres India, in Delhi & Chennai. His teams managed all core RBS brands, Investigating & Preventing Fraud while providing a comprehensive service to customers who have been a victim of Fraud or those who have a disputed transaction with Retailers / Merchants. His Law Enforcement Operations responsibility provided Scott with an opportunity to directly support all the UK & Ireland’s Police forces where his teams provided critical information to fight Crime & International terrorism.

Join Scott and the rest of the panel for the “Managing Digital Fraud” session at the City Suite, 8 Fenchurch Place, London EC3 4PB, and book your ticket today.

Sep 28
0

Speaker Announcement – Dianne Doodnath UK Finance

By | Digital Trust World 2022 | No Comments

We are excited to announce Dianne Doodnath, Principal, Remote Payment Channels at UK Finance as a panelist on the the Fraud Management session – Managing Digital Fraud, at Digital Trust World 2022 on 21 November.

Dianne is a Remote Payment Channels fraud threat lead at UK Finance, working closely with financial institutions, key stakeholders and other sectors to close vulnerabilities beyond the perimeter of the banks. Having worked in fraud prevention for over 17 years, Dianne now primarily engages with companies outside the financial services sector to encourage and foster collaborative initiative to protect mutual customers. Prior to joining UK Finance, Dianne worked in the gambling sector mitigating economic crime and meeting regulatory reporting requirements.

To ensure that you attend this important session on managing digital fraud, book your ticket today.

Sep 26
0

Fraud Management Session Announcement – Managing Digital Fraud

By | Digital Trust World 2022 | No Comments

We are delighted to announce details of Digital Trust World 2022’s Fraud Management session in partnership with JT Fraud Protection Services. Managing Digital Fraud is a 90 minute session moderated by Clare Messenger, Global Head of Fraud Protection Services, JT International, with a panel of fraud experts, Dianne Doodnath, Principal, Remote Payment Channels at UK Finance, Fraser King, Head of Commercial Strategy & Global Business Development, Vodafone Identity Hub, Vodafone Carrier Services, and Scott Taylor, Fraud Protection & Compliance Domain, Consultant, EMEA at FICO.

Session Synopsis

There has been a significant growth in criminals employing social engineering to trick consumers out of their money.

The adoption of a digital-first approach by many consumers since the pandemic brings opportunity, and also brings risk. Criminals are finding increasingly innovative ways to commit fraud and steal people’s identity, personal details and money. In this panel session, industry representatives from the banking and finance sector and from solution providers will discuss the biggest problems facing businesses across all sectors today in the UK. They will review the measures and solutions being implemented to protect consumers and the legislation that needs to come into force. As technology and industry continues to evolve the panel will look to what the future may hold in terms of challenges and opportunities.

Join us and our fraud experts as we discuss the latest trends and developments in Managing Digital Fraud on 21 November in London.