Cloud vs. Fraud

Banks and financial institutions. require a special approach to IT Security, and that is why we developed a Kaspersky Fraud Prevention Cloud.

Why do people turn to cybercrime? Of course, motives may vary. However, in most cases, the reason is that they think it is easier than earning money legally. The key word there is easier.

A similar principle guides their choice of target. Where is the easiest place to find money? The points where financial flows are concentrated: banks and financial institutions. That is why these types of companies need a special approach to information security, and that is why we developed a Next Gen solution for them: Kaspersky Fraud Prevention Cloud.

Cloud technology against online fraud

This solution strengthens our Kaspersky Fraud Prevention platform with an additional arsenal of technologies for proactive cross-channel fraud detection in real time. The range of attacks this solution fights include different kinds of Identity Fraud, attacks with automation and remote administration tools, transaction tampering and more.

Kaspersky Fraud Prevention Cloud accumulates and analyzes anonymized and depersonalized data coming from web and mobile channels. Based on device and environment analysis, behavioral analysis and biometric data enhanced by machine learning technology it allows for early detection of sophisticated fraud schemes and feeds internal monitoring systems with extended knowledge necessary for accurate and timely decisions.

For example, Kaspersky Fraud Prevention Cloud learns what mouse movements, scrolls, gestures and other kinds of device interactions are typical for the user. It also builds patterns of normal behavior based on what the user clicks and how he acts into the system. Based on global device ID, IP-address, location reputation and more, the Cloud solution identifies “good” devices and uses this data for user authentication. Empowered by machine learning methods and statistical models, Kaspersky Fraud Prevention Cloud detects abnormal and suspicious behavior in real time and provides accurate verdicts to internal fraud analysis teams. The approach is based on our concept of “HuMachine” intelligence, which combines big-data threat analysis with applied machine learning algorithms and global expertise from the Fraud Research and Analysis Team.

For any business, user experience is one of the key priorities. Kaspersky Fraud Prevention Cloud not only provides early fraud detection, but also significantly improves user experience for legitimate customers with the help of its Risk Based Authentication feature. It is aimed at assessing risk during login and allows additional authentication steps for honest users to be decreased, while detecting suspicious activity at an early stage.

The overall risk assessment and data analysis runs during the whole session with the Continuous Session Anomaly Detection feature that provides continuous assessment of session risk. This significantly empowers existing internal transactional monitoring systems, providing a means of early detection and automation, increasing the detection rate and decreasing false positives.