Loading...

Know your enemy – best practices for preventing the latest fraud attacks

Published: May 8, 2014 by Matt Tatham

At Experian’s 2014 Vision conference (#vision2014), Ori Eisen and Matt Ehrlich presented current trends and practices for taking on the growing industrialization of fraud.  Together with a risk executive from a leading bank, the team discussed several themes and emerging tactics, including: the cost of single channel fraud prevention strategies, the necessity of a layered security strategy that includes device and identity intelligence, and true real time, point of contact risk-scoring.

Data breaches have become all too common and one of the most concerning issues around breaches is that many consumers’ digital identities are based on a single email address or username/password. With stolen identity data in hand, criminals can submit fraudulent mortgages, credit card applications, even create fake credit cards, in the names of thousands of unsuspecting victims. Regardless of how the data is used, one thing is certain: breaches pose serious dangers to consumers, retailers and financial institutions.

The need for customer-friendly fraud management is stronger than ever. A single layer of protection is simply ineffective as criminals are more efficient in obtaining consumer identification details and compromising simple access credentials. While mobile technologies and the Internet have enabled consumers to have anytime access to their financial data, these advances actually enable criminals to perpetrate fraud. Eisen and Ehrlich discussed how customer-friendly technologies and policies continue to outpace controls and risk management.

Subscription title for insights blog

Description for the insights blog here

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Categories title

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Subscription title 2

Description here
Subscribe Now

Text legacy

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source.

recent post

Learn More Image