Organizations across many industries are dealing with increasing levels of fraud of many different types. Fraud is harming businesses and leading many to augment existing digital services with technologies designed to reduce fraud based on real-time use of intelligence from various sources. Examples of the main attack types driving the need for Fraud Reduction Intelligence Platforms are Credential stuffing for Account TakeOver (ATO), New Account Fraud, Screen Scraping, Inventory Skimming or Depletion, Fraudulent Insurance Claim Submission, Real Estate Escrow Mis-Direct, Banking Overlays, and Travel Site Overlays.
Many different kinds of organizations are affected, including online banking, general finance, payments services, retail, insurance, healthcare, telecommunications, travel/hospitality, gaming, real estate, manufacturing, government-to-citizen (G2C), and others.
According to BakerHostetler’s 2019 Data Security Incident Repot, phishing was the most common cybersecurity attack strategy, accounting for 37% of incidents. With all the employee training in place to reduce breaches, why do such mistakes still happen? Is it carelessness, ignorance, a mis-guided intention to “help,” or maliciousness? Without knowing the motivation or who is most likely to mis-behave, are we formulating and putting in place effective training and hiring, or are we just acting on instinct to look like we are doing something to minimize the problem without really knowing its causes?
To answer these questions, Behavioral Science Lab (BSL) applied its US patent-approved MINDGUIDE® methodology to uncover the underlying motivations of such data breeches and how to screen to prevent them. Christian Goy, BSL co-founder and Board member summarizes these findings and suggests new and more effective next steps to control such “mis-behaving.”
