February 23, 2018 — Half of UK organisations say they have been the victim of fraud and/or economic crime
Robert Capps, VP at NuData, comments on a report issued today by isBuzz News disclosing that according to PwC’s ninth biennial Global Economic Crime & Fraud Survey, half of UK organisations say they have been the victim of fraud and/or economic crime in the last two years.
To detect out-of-character and potentially fraudulent transactions before they can create a financial nightmare for consumers – and for companies – we must adopt new authentication methods that hackers can’t deceive. Solutions based on passive biometrics and interactional signals are leading the way to provide more safety for consumers and less fraud in the marketplace. These solutions identify machines from humans, then separate good machines from bad, selects known humans from unknown humans, and finally sorts unknown humans demonstrating low-risk signals from unknown humans demonstrating high-risk signals. This process lets organisations fast-track the known and low-risk users for an optimal experience, saving the friction and traditional authentication methods for the highest risk users. These layers validate the user through information that hackers can’t replicate, securing the good user’s transaction at every step.
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