When is “Knowledge-Based” not Assured Authentication?

Knowledge based authentication (KBA) has been declared dead many times over the past few years.  But what is KBA and what exactly is the problem?  KBA is a term that has been used too generically across the identity universe and different providers get away with using the term to refer to vastly different levels of [Read More…]

Pattern Detection and Data Anaytics Play a Vital Role in Fraud Management

Most organizations are no stranger to the concept of data analytics and behavioral patterns to detect fraud. After all, those sorts have analytics have been applied to internal data and transaction monitoring systems for years. However, the ability to spot fraud patterns is often limited only to what can be detected within the organizations’ walls. Fraud experts agree [Read More…]

Tips to Detect and Deter Fraud during Customer Acquisition

ATLANTA, March 29, 2016 /PRNewswire/ — Equifax Inc. (NYSE: EFX) has issued several resources to help organizations combat the elusive and increasingly expensive problem of fraud during customer acquisition. The resources describe current fraud scenarios, the background and methods most commonly used to commit this type of fraud, and outline best practices to detect and deter [Read More…]

Working with the C-Suite to Mitigate Fraud

Equifax Fraud product manager, Rich Huffman, was recently published in Corporate Compliance Insights discussing how Boards of Directors can stay on top of trends in the fraud landscape and ensure C-level executives implement effective measures to detect and mitigate fraud. Huffman recommends that Boards also should encourage the executive team to set realistic goals. Companies shouldn’t aim to stop [Read More…]

Two Sample Fraud Scenarios and Solutions for Combating Them

There are as many fraud schemes as there are fraudsters, but they fall into a few general buckets. Here are two of the most common fraud scenarios and solutions for solving them. BUSINESS PROBLEM A credit card issuer experiences fraud losses when fraudsters use fabricated account information, usually with a real SSN. FRAUD SCENARIO A card issuer offers [Read More…]

Cybersecurity National Action Plan

On February 9, 2016, the President implemented the Cybersecurity National Action Plan (CNAP) designed “to enhance cybersecurity awareness and protections, protect privacy, maintain public safety as well as economic and national security, and empower Americans to take better control of their digital security.” Threats against business and the government are continuing with a record number of [Read More…]

Cybersecurity Information Sharing Act included in Federal Budget

On December 18, President Obama signed legislation to encourage businesses to share cyberthreat information with the federal government. The Cybersecurity Information Sharing Act (CISA) is part of the $1.1 trillion omnibus spending bill. CISA will establish a process for the government to share cyberthreat information with businesses that voluntarily agree to participate in the program. The data voluntarily [Read More…]

More Data, Less Fraud

Fraud is increasing on online and mobile channels as EMV adoption limits point-of-sale fraud. Implementing appropriate verification and authentication protections helps minimize fraud losses and improve customer experience. Listen to this interview with fraud expert Andy Smith to learn about how to: Improve fraud detection by sharing information across businesses Limit true-name and synthetic ID [Read More…]