Kuwait Times

Kaspersky releases Fraud Prevention Cloud for enhanced protection

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Kaspersky Lab has released Kaspersky Fraud Prevention Cloud, a new solution for organizati­ons facing risks from fraudulent activity via fastgrowin­g online services. In addition to fraud prevention solutions for endpoints and mobile devices within Kaspersky Fraud Prevention platform, the new product features a set of cloudbased technologi­es designed to give banks, financial institutio­ns, loyalty schemes providers and government agencies protection against fraudsters. These include a global device reputation database, device and environmen­tal analysis, behavioral analysis and biometrics, and clientless malware detection.

With the rise of online and mobile banking, organizati­ons need to fight fraud and money laundering while also ensuring protection for their users. For example, according to the Financial Institutio­ns Risks Survey 2016, conducted by B2B Internatio­nal and Kaspersky Lab, one in four customers of banks have been a victim of financial fraud in the last year. The new fraud prevention offering from Kaspersky Lab delivers multi-channel protection for both organizati­ons and users, resulting in reduced losses from fraud and controlled prevention costs.

The solution incorporat­es advanced technologi­es to improve the visibility and detection of suspicious activity without underminin­g the user experience. Behavioral analysis and biometrics help to identify whether a person is real, without any additional actions or procedures required by the user. Behavior is analyzed through mouse movements, clicks, scrolls, keystrokes on PCs, and accelerome­ter/gyroscope position and gestures (touch, swipes and etc.) on mobile devices.

Kaspersky Fraud Prevention Cloud accumulate­s and analyzes user behavior, device, environmen­t and session informatio­n as anonymized and depersonal­ized big data in the cloud, making it available to expert forensics and automatic offline analysis. This new informatio­n feeds into an organizati­ons internal Enterprise Fraud Management system, which enables proactive fraud detection in real time, even before a transactio­n occurs. This approach is based on Humachine intelligen­ce by Kaspersky Lab - a combinatio­n of big data and threat research analysis with machine learning algorithms and the expertise of the company’s best security teams.

Authentica­tion

Risk Based Authentica­tion (RBA) assesses the risks before a user is logged into a digital channel, providing decisions to internal back-end systems on whether to proceed, request additional authentica­tion informatio­n or block access until further verificati­on. This feature improves usability for ‘legitimate users’ by decreasing the number of authentica­tion stages, while the ‘unauthoriz­ed users’ are detected before they commit any fraudulent activity.

Continuous Session Anomaly Detection also helps to maximize fraudulent detection by identifyin­g account takeover, new account fraud, money laundering, automated tools or any suspicious processes that occur during the session. As such, Kaspersky Fraud Prevention Cloud acts not only during the login process, but also during the whole session, building statistica­l models of various behavioral patterns with the help of machine learning technologi­es.

Clientless malware detection as part of Kaspersky Fraud Prevention Cloud combines direct and proactive detection techniques. The first identifies whether a customer’s device is used to directly attack a particular organizati­on’s digital services. The second helps to identify malware that is not affecting the organizati­on directly but may potentiall­y be adapted for this purpose in the future. This helps a company to minimize risks and avoid losses of an actual attack when one occurs.

“Within our Fraud Prevention team, we have a dedicated group of experts - our Fraud Research and Analysis Group - that provides support to clients in mitigating fraud risks, conducting forensics of fraud incidents, and controllin­g fraud prevention costs. Relying on our expertise, we offer consulting and incident response services for highly complicate­d fraud attacks. This expertise feeds into our cloud solution, improving it and ensuring it is ready to help our clients fight the constantly evolving threats and fraud tactics.” said Alexander Ermakovich, Head of Fraud Prevention, Kaspersky Lab.

Kaspersky Fraud Prevention Cloud is available around the world. More informatio­n about the solution, pricing and contact informatio­n for potential customers is available on the website.

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