With the rapid growth in the scope, sophistication, and variety of online fraud and cyber-crime, new approaches are required for fraud detection and user verification. Behavioral biometrics has been getting a lot of attention lately as being able to uniquely address the challenges posed by social engineering, account takeovers and malware. By looking at the way people scroll, type, toggle between fields and use shortcuts, behavioral biometrics can help determine the authenticity of a user, not just which device or password was used to login.
New account fraud is usually the gateway to many other criminal activities and is a growing concern for businesses that processes transactions online. Our solution uses behavioral biometrics to detect new account fraud by recognizing criminal behavior and being able to distinguish those behaviors from those of normal users.
BioCatch is a cybersecurity company that delivers behavioral biometrics, analyzing human device interactions, to protect users and data. Banks and other enterprises use BioCatch to significantly reduce online fraud and protect against a variety of cyber threats, without compromising the user experience.
Remote Administration Tools (RATs) have a dual purpose. Their original objective was to allow IT personnel to remotely access computers connected to the network, so they can run troubleshooting or remote maintenance on the PC. Many people use remote access capabilities because it allows them to enter their far-away desktop and control it, just like they were sitting behind the keyboard themselves.
As mobile devices eclipse computers and laptops as the preferred method of going online, fraudsters have followed users, porting their modus operandi –account takeover, social engineering, and malware based remote control attacks – to the mobile arena. Mobile has opened up many new ways for users to communicate and connect without being tied to a desk or a power outlet – and at the same time, it has presented hackers with many more opportunities to perpetrate fraud and carry out attacks that cannot be detected with traditional tools used to detect attacks in web sites. As a result, companies need to apply new fraud controls to protect mobile users and enable them to carry out transactions, check bank accounts, make purchases, etc.
The need for speed. Learn how BioCatch is securing faster payments.