• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Complex Forms of Fraud Thwarted by Behavioral Biometrics in New Case Studies

August 16, 2019

Biometrics News - Complex Forms of Fraud Thwarted by Behavioral Biometrics in New Case Studies

BioCatch is once again highlighting the advantages of behavioral biometrics in a new blog post that details two case studies in which the BioCatch platform was used to stop more complex forms of fraud. In the post, the company notes that many anti-fraud solutions protect a single access point, either with a password or a device-based security key. That leaves them vulnerable to social engineering and remote access attacks that manage to get through that gateway. Behavioral biometrics solves that problem with continuous authentication.

One of the case studies involves a top-five bank in the US, while the other concerns a similarly prominent bank in the UK.

In the former, the bank was looking to bolster its security offerings ahead of the transition to Faster Payments, fearing that it wouldn’t be able to keep pace with fraudsters with a prevention solution that could only identify known threats. After deploying the BioCatch platform, the bank was able to spot 95 percent of malware attacks with a very low (0.05 percent) false positive rate. Based on a behavioral analysis, the bank also learned that credential sharing was far more common than they realized.

In the second instance, the bank deployed BioCatch to fight against a sustained cyberattack that was sophisticated enough to defeat conventional security methods, including fingerprint authentication. By monitoring user behavior – even seemingly innocuous details like the use of a scroll bar – Biocatch was able to flag anomalies and alert the bank to fraudulent transactions that slipped past other security protocols, including one £1.6 million attempt. In total, it caught 81 percent of fraud and brought back a 23x return on investment during the trial period alone.

All told, the post offers more examples of the utility of behavioral biometrics, and demonstrates why the technology is so promising for financial institutions looking to combat the growing threat of fraud.

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: anti-fraud technology, behavioral analytics, behavioral biometrics, BioCatch, Biometric, biometrics, corporate blogs, nti-fraud, remote access attacks, social engineering

Related News & Articles

Samsung to Add Voice Recognition to Galaxy S21’s Bixby: Report

Crossmatch Announces Accordant Technology as Latest DigitalPersona Distribution Partner

New Apple Watch Will Be Very, Very Aware of What’s Going On with You

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi's product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • FPC’s Optical In-display Sensor Gets First Design Win
  • FCC Tells Apple and Google to Get Rid of TikTok
  • Yubico Offers Subscriptions Through AWS Marketplace
  • Saskatchewan Privacy Commissioner Urges Development of Optional Digital ID
  • Wearable Authentication Company Closes $13 Million Funding Round

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 MobileIDWorld