Best Practices for Building a Holistic Security Strategy
Attacks on online banking are escalating in scale and scope, and cyber criminals have developed numerous technologies and techniques to bypass many existing controls financial institutions have in place. Online business owners and information security experts need to proactively address this wide variety of threats, but do so within tight budgets. This whitepaper describes most compelling advantage that financial institutions have over cyber criminals - deep understanding of customer behavior and how institutions can harness this behavior to distinguish between legitimate and suspicious online banking sessions, identifying comprised accounts and fraudulent transfers before any money has been transferred.
Readers will learn:
- How fraud attacks are executed using the online channel, including the various flavors of Man-in-the-Browser attacks and how money is through ACH, Wire, Bill Pay and other channels;
- How institutions can take advantage of the deep data they have about online banking behavior to identify fraud attacks using behavioral analytics;
- How a risk-based approach to fraud detection using behavioral analytics can improve fraud detection against the widest array of threats and improve the customer experience.
