By applying a risk-based approach to identity assurance, organizations can go beyond a simple yes/no decision or step-up authentication process and add intelligence that provides broader context about the user and the situation in which they are requesting access.
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Why...
Even though most organizations do not have a "blank slate," it doesn't mean they can't rethink their IAM strategy. Acknowledging identity as the new perimeter, enterprises can reimagine how they utilize IAM to reduce unnecessary risk and cost and better enable the business.
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Fraud is constantly evolving, meaning your fraud prevention strategy needs the flexibility to change in order to keep pace and outmaneuver fraudsters.
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Traditionally, fraud teams have taken a defensive approach to fraud prevention as each new type of threat appeared. Nowadays, fraud is evolving rapidly as criminals become more sophisticated. It's time to take a proactive stance!
Without a proactive fraud strategy, customers can get caught in the middle with either...
Fraud and associated compliance issues are becoming an increasing challenge for financial services companies today. Fraud approaches are constantly changing and the cost of fraud prevention is increasing, making it more important to keep up.
What's needed is a flexible fraud prevention strategy that leverages your...
With a rise in incidents of omnichannel financial fraud globally, financial institutions need to enhance their ability to detect fraud - while also reducing technical complexity. Maxim Shifrin of IBM Trusteer discusses new solutions.
Financial organizations need to more accurately assess risk in the open banking environment. It's not enough to just get any generic analytics engine that can incorporate data from different interaction channels. A bank's fraud team must be able to identify cybercrime risk, payment risk and customer behavior, in...
Financial services institutions - from banking giants to brokerage firms - are under pressure to adapt. Cybercrime continues to rise, while both employee and customer expectations and demands increase in parallel. According to Verizon, 81% of hacking-related breaches involving either stolen and/or weak passwords....
Defending against fraud and cyberattacks is not an easy task for banks; but new technologies and strategies, including runtime application self-protection (RASP), behavioral biometrics and machine-learning-based analytics, are allowing financial institutions to reduce their fraud losses while enhancing their customer...
There are many faces of fraud in the insurance market - using stolen identities to obtain a new policy - or just as troubling, an account takeover to make a false claim or change payee information to receive claim funds. And when fraud hits, it hurts everyone in the pool.
At the same time, the insurance industry...
Synthetic ID fraud is a fast-growing, multibillion dollar issue. Often misclassified as a credit loss, synthetic ID fraud is now affecting an expanding list of entities. Also, unless extremely large, this "victimless" crime often does not get the full attention of law enforcement. From the LexisNexis data labs, learn...
As cybercriminals evolve from attacking financial institutions to targeting various organizations with identity theft tools, digital users' identification strategies need to quickly adapt as well. At the same time, customers expect faster and more convenient services, enhancing the challenges organizations face -...
Deception is the most successful strategy in military history. Just as armies used deceit to conquer continents, cyber-deception is being used by more and more organizations to exploit a hacker's greatest weakness - being a human, after all, behind a keyboard. Deception techniques such as honeypots are not a new. But...
Data breaches feed the market for fraudsters to steal identities, which challenges traditional approaches to identifying the genuine from the fraudster. We hear that knowledge-based authentication is dead. But trust in any single defense is flawed. No single route to "trust" should be applied. We should never lose...
Distributed ledger technology, such as the blockchain, promises simplicity, speed and greater transparency in transactions that are conducted across the world, in payments and beyond. But what about the risks? How much do we truly understand about this emerging technology, and have we placed fintech on a pedestal too...
