“Metadata pertaining to things like device identifiers and online identity will be leveraged together with analysis of behavioral patterns and other AI systems to verify that users are who they say they are without any friction.”
BioCatch has issued its top ten predictions of cybercrime trends anticipated for 2019, and there’s actually a bit of good news in store.
One positive trend is an anticipated reduction in Card Not Present fraud. Writing on the company’s blog, BioCatch Chief Cyber Officer Uri Rivner credits this shift to a few factors: The emergence of the 3D Secure authentication scheme, compliance with the European Union’s PSD2 regulation, and the ongoing ascent of behavioral biometrics will all help to discourage and thwart would-be fraudsters.
And further to that last point, behavioral biometrics will also help to facilitate the rise of what Rivner calls ‘authentication-less authentication’, in which end users are authenticated without the need for them to perform any particular action such as typing in a password or scanning a fingerprint. Metadata pertaining to things like device identifiers and online identity will be leveraged together with analysis of behavioral patterns and other AI systems to verify that users are who they say they are without any friction.
On that note, sophisticated artificial intelligence will also be able to provide clear explanations for why a given credit card has been declined in a transaction, helping merchants to comply with new regulations aimed at preventing discrimination.
Of course, there are plenty of more dire predictions in Rivner’s forecast – things like the rise of malware in phone scams, increasing identity theft in instant credit offerings, social engineering attacks against telcos, and more. But advances in fraud mirror advances in security, and BioCatch clearly sees some big benefits coming out of behavioral biometrics and AI technologies over the year to come.
Source: BioCatch blog