As digital finance channels have grown – be they financial service providers, loyalty programme providers or e-commerce organisation – so too has the threat of digital crime.
In a bid to help business owners navigate the troubled waters of cybercrime, Kaspersky Lab has released Fraud Prevention Solutions which aim to make fraud management easier.
One of these solutions is Advanced Authentication which uses a machine learning, biometric data, and non-personalised metadata to identify anomalies and fraudulent activity. This authentication doesn’t require input from the user and keeps tabs on potentially fraudulent activity.
For a business Advanced Authentication means improved security for online transactions and a minimised risk of fraud without users having to anything extra. Think of it like a guard dog, looking out for your best interests when you can’t.
Kaspersky Lab turned to machine learning again for the second solution – Automated Fraud Analytics.
This software gathers and analyses depersonalised indicators such as device type and behavioural patterns of a user. This data is then compiled and compared with patterns associated with account takeover, new account fraud, and money laundering.
Kaspersky gathers data from all over the world to make its fraud prevention systems more efficient and reliable. What’s more is that the more fraud this machine spots and stops, the better it will become over time.
These solutions can even be used to stem the tide of internal and cross-organisational fraud.
Firms interested in this technology should head to the Kaspersky Fraud Prevention website to request a demo.
[Image – CC 0 Pixabay]