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Experian identified by Juniper Research as a leading player in the fraud detection and prevention space

Published: August 18, 2016 by Guest Contributor

Juniper Research recommends investing in top-of-the-range fraud detection and prevention solutions

Juniper ResearchExperian has been selected as one of the leading players in the fraud detection and prevention space in Juniper Research’s strategies report.

“The Juniper report highlights the need for companies to have sophisticated, real-time fraud screening solutions that detect the latest fraud patterns and behaviors while providing a safer and more enjoyable experience for their customers,” said Steve Platt, global executive vice president, Fraud and Identity, Experian. “This is exactly what we’ve been doing at Experian with our recent introduction of CrossCore.”

Juniper Research, one of the leading global analyst firms in the mobile and digital technology sector, evaluated fraud management companies based on factors such as size, financial performance, global reach, product range, the number of clients and strength of partnerships. It selected the top vendors based on significantly higher performance in data analytics capability, ability to monitor fraud across multiple channels (including mobile) and the use of global threat intelligence networks.

Juniper provides the most comprehensive and progressive analysis of the digital commerce market in its market-leading Commerce & Fintech research. The Online Payment Fraud strategies research report provides a global analysis of online fraud detection and prevention in the digital commerce sector, with a particular focus on online banking and card-not-present purchases. The report identified several fraud industry trends and recommendations for merchants, financial institutions, and other firms accepting online payments. At the top of the list was the recommendation to invest in “top-of-the-range” fraud detection and prevention solutions.

“We are seeing a rapid increase in online fraud attacks from every corner of the world,” said Platt. “Companies need a new approach to managing their fraud protection landscape, one that gives them ultimate control over their entire risk exposure while allowing them to quickly implement new protections without writing new code or building new models.”

Experian recently launched CrossCore, the industry’s first smart plug-and-play platform, which allows companies to connect their own solutions, Experian products, and third-party vendors in one place to better protect customers from fraud threats. The CrossCore platform offers a new approach to managing fraud and identity services and addresses a key priority outlined in the Juniper report — that it is vital to take a wider, shared approach to the problem and commit to combating fraud at both the enterprise and industry levels.

Experian is currently offering a complimentary white paper from Juniper’s Online Payment Fraud report, which highlights key trends in identifying and preventing online fraud.

Learn more about Experian’s Fraud and Identity business.

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As data breaches become an ever-growing threat to businesses, the role of employees in maintaining cybersecurity has never been more critical. Did you know that 82% of data breaches involve the human element1 , such as phishing, stolen credentials, or social engineering tactics? These statistics reveal a direct connection between employee identity theft and business vulnerabilities. In this blog, we’ll explore why protecting your employees’ identities is essential to reducing data breach risk, how employee-focused identity protection programs, and specifically employee identity protection, improve both cybersecurity and employee engagement, and how businesses can implement comprehensive solutions to safeguard sensitive data and enhance overall workforce well-being. The Rising Challenge: Data Breaches and Employee Identity Theft The past few years have seen an exponential rise in data breaches. According to the Identity Theft Resource Center, there were 1,571 data compromises in the first half of 2024, impacting more than 1.1 billion individuals – a 490% increase year over year2. A staggering proportion of these breaches originated from compromised employee credentials or phishing attacks. Explore Experian's Employee Benefits Solutions The Link Between Employee Identity Theft and Cybersecurity Risks Phishing and Social EngineeringPhishing attacks remain one of the top strategies used by cybercriminals. These attacks often target employees by exploiting personal information stolen through identity theft. For example, a cybercriminal who gains access to an employee's compromised email or social accounts can use this information to craft realistic phishing messages, tricking them into divulging sensitive company credentials. Compromised Credentials as Entry PointsCompromised employee credentials were responsible for 16% of breaches and were the costliest attack vector, averaging $4.5 million per breach3. When an employee’s identity is stolen, it can give hackers a direct line to your company’s network, jeopardizing sensitive data and infrastructure. The Cost of DowntimeBeyond the financial impact, data breaches disrupt operations, erode customer trust, and harm your brand. For businesses, the average downtime from a breach can last several weeks – time that could otherwise be spent growing revenue and serving clients. Why Businesses Need to Prioritize Employee Identity Protection Protecting employee identities isn’t just a personal benefit – it’s a strategic business decision. Here are three reasons why identity protection for employees is essential to your cybersecurity strategy: 1. Mitigate Human Risk in Cybersecurity Employee mistakes, often resulting from phishing scams or misuse of credentials, are a leading cause of breaches. By equipping employees with identity protection services, businesses can significantly reduce the likelihood of stolen information being exploited by fraudsters and cybercriminals. 2. Boost Employee Engagement and Financial Wellness Providing identity protection as part of an employee benefits package signals that you value your workforce’s security and well-being. Beyond cybersecurity, offering such protections can enhance employee loyalty, reduce stress, and improve productivity. Employers who pair identity protection with financial wellness tools can empower employees to monitor their credit, secure their finances, and protect against fraud, all of which contribute to a more engaged workforce. 3. Enhance Your Brand Reputation A company’s cybersecurity practices are increasingly scrutinized by customers, stakeholders, and regulators. When you demonstrate that you prioritize not just protecting your business, but also safeguarding your employees’ identities, you position your brand as a leader in security and trustworthiness. Practical Strategies to Protect Employee Identities and Reduce Data Breach Risk How can businesses take actionable steps to mitigate risks and protect their employees? Here are some best practices: Offer Comprehensive Identity Protection Solutions A robust identity protection program should include: Real-time monitoring for identity theft Alerts for suspicious activity on personal accounts Data and device protection to protect personal information and devices from identity theft, hacking and other online threats Fraud resolution services for affected employees Credit monitoring and financial wellness tools Leading providers like Experian offer customizable employee benefits packages that provide proactive identity protection, empowering employees to detect and resolve potential risks before they escalate. Invest in Employee Education and Training Cybersecurity is only as strong as your least-informed employee. Provide regular training sessions and provide resources to help employees recognize phishing scams, understand the importance of password hygiene, and learn how to avoid oversharing personal data online. Implement Multi-Factor Authentication (MFA) MFA adds an extra layer of security, requiring employees to verify their identity using multiple credentials before accessing sensitive systems. This can drastically reduce the risk of compromised credentials being misused. Partner with a Trusted Identity Protection Provider Experian’s suite of employee benefits solutions combines identity protection with financial wellness tools, helping your employees stay secure while also boosting their financial confidence. Only Experian can offer these integrated solutions with unparalleled expertise in both identity protection and credit monitoring. Conclusion: Identity Protection is the Cornerstone of Cybersecurity The rising tide of data breaches means that businesses can no longer afford to overlook the role of employee identity in cybersecurity. By prioritizing identity protection for employees, organizations can reduce the risk of costly breaches and also create a safer, more engaged, and financially secure workforce. Ready to protect your employees and your business? Take the next step toward safeguarding your company’s future. Learn more about Experian’s employee benefits solutions to see how identity protection and financial wellness tools can transform your workplace security and employee engagement. Learn more 1 2024 Experian Data Breach Response Guide 2 Identity Theft Resource Center. H1 2024 Data Breach Analysis 3 2023 IBM Cost of a Data Breach Report

Published: January 28, 2025 by Stefani Wendel

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