Professional Security Magazine: Fraud Report

January 29, 2018 — Fraud Report

Robert Capps, VP at NuData, comments on a report issued yesterday by Professional Security Magazine disclosing that six out of every ten businesses are experiencing the same or more fraudulent losses online compared with a year ago, as per Experian’s newest report.

The use of two-factor authentication, or even better, passive biometrics, which is capable of identifying users based on passive biological factors impossible to mimic, could help to bridge the identification gap for companies, and put 84% of fraudsters out of business. Behavioural and passive biometrics, in a layered approach, help to identify the identity of the real consumer without applying additional friction or inconveniencing the transaction. Simply analysing how a consumer holds or enters keystrokes on their device, or hundreds of other behavioural data points, can verify that there is a human behind the transaction and that it is the right human. At the end of the day, trusting the online environment is what matters.

For the complete article, go here.