Kaspersky Fraud Prevention Cloud enables automated learning and large data analysis to provide advanced protection.
Google + LinkedIn Facebook Twitter
Kaspersky Lab recently introduced the new Kaspersky Fraud Prevention Cloud solution designed to help companies address the risks posed by fraudulent activities through fast-growing Internet services.

In addition to containing anti-fraud solutions for endpoints and mobile devices within the Kaspersky Fraud Prevention platform, Kaspersky Lab said the new product was equipped with a cloud-based set of technologies designed to protect banks, financial institutions, loyalty program providers and government agencies from fraudulent attacks.

The company added that this includes a global statistical database tracking the reliability and analysis of the performance of the device and analysis of the operating environment and behavioral analysis and biometric information and biometric detection of silent programs Clientless.

Kaspersky Lab pointed out that with the growth of online and mobile banking services, enterprises are in dire need of combating fraud and money laundering while ensuring protection for their customers. For example, according to the 2016 Financial Institution Risk Survey, conducted by B2B International and Kaspersky Lab, it was found that one out of every four bank customers fell victim to financial fraud last year. Kaspersky Lab’s new anti-fraud solution provides multi-channel protection for both companies and users, which will reduce the impact of fraud losses and control costs.

Kaspersky Lab said the solution includes advanced technologies to improve visibility and detection of suspicious activity without affecting user experience. Behavioral analysis and Biometric identification information helps identify whether a person is real or otherwise, without the need to take any additional actions or measures by the user. Behavior is analyzed by mouse movements, clicks, passes, keyboard strokes on computers, accelerometer, gyroscope, hand movements (touch, pass, etc.) on mobile devices.

Kaspersky Fraud Prevention Cloud collects information about user behavior, device, environment, and usage period and analyzes it as large data in the cloud on the basis that it is anonymous and has no personal status, making it available to forensics experts and automated analysis without an Internet connection. This new information is added to the company’s internal fraud management system, which allows for proactive detection of fraud in real time, even before the transaction is initiated. This scenario is based on the HuMachine intelligence approach of Kaspersky Lab which integrates large data analysis and threat research with automated learning algorithms and expertise provided by elite security teams in the company.

Risk Based Authentication is a risk assessment before a user logs on to the digital channel, providing decisions for internal internal systems on whether to proceed, or requesting additional information about authentication or blocking access pending further verification. This feature improves the flexibility of use for regular users by reducing the number of authentication stages, while unauthorized users are detected before committing any fraudulent activity.

Continuous Session Anomaly Detection also helps to expand fraud detection by identifying hacked accounts, new account frauds, money laundering, automated tools, or suspicious transactions occurring during the period of use. As such, the Kaspersky Fraud Prevention Cloud platform is activated during the login process as well as the entire usage period, and allows the creation of statistical models based on different behavioral patterns with the help of automated learning techniques.

The detection tasks of the clientless silent programs available through the Kaspersky Fraud Prevention Cloud platform include the combination of direct detection techniques and proactive detection. Direct detection determines whether a client device is used as a medium for direct attack on the digital services of a particular enterprise. While proactive detection helps identify malicious software that does not affect the organization directly, and may even be developed for this purpose in the future. This helps the company reduce risk and avoid losses resulting from any actual attack when it occurs.

Said Alexander Armakovich, head of anti-fraud at Kaspersky Lab. Our anti-fraud team includes a group of specialist experts who together form the fraud research and analysis team. The team provides support to clients in minimizing and mitigating the impact of fraud risks, collecting forensic evidence for fraud and controlling fraud costs. By relying on our expertise, we can provide consulting and response services for security incidents arising from highly sophisticated phishing attacks. This professional experience is integrated into our cloud-based platform, contributing to its improvement, ensuring its readiness, and its ability to help our customers address evolving threats, change and fraud tactics.