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The Shield of Innovation: How Technology Empowers Fraud Prevention

The Shield of Innovation: How Technology Empowers Fraud Prevention

Thursday, November 16, 2023 12:15—12:35
Location: Satelit
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Fraud is a major cost to businesses worldwide. Banking, finance, payment services, and retail are some of the most frequent targets of fraudsters. However, insurance, gaming, telecommunications, health care, cryptocurrency exchanges, government assistance agencies, travel and hospitality, and real estate are increasingly targeted as cybercriminals have realized that most online services trade in monetary equivalents. After years of being the focus of cybercriminals, banking and financial institutions are more likely to be better secured than other industries, meaning that fraudsters are increasingly likely to attack any potentially lucrative target if given the opportunity. Fraud perpetrators are continually diversifying and innovating their Tactics, Techniques, and Procedures (TTPs).

The most prevalent types of fraud businesses, non-profit organizations, and government agencies experience today are: 

Account Takeover (ATO) Fraud - occurs when fraudsters use breached passwords, phishing, social engineering and credential stuffing attacks to execute unauthorized transactions. 

Account Opening (AO) Fraud – also called New Account Fraud or Synthetic Fraud, often happens as a result of using stolen identities or assemblages of personal information to create synthetic digital IDs.  

In this session we will provide an overview of Fraud Reduction Intelligence Platforms and show the highlights of our latest research in this area.

John Tolbert
Lead Analyst
  John Tolbert is a Lead Analyst and Managing Director of KuppingerCole, Inc (US). As Lead Analyst, John covers a number of different research areas, outlined below. John also advises...
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