Article provided by The Paypers
The fraud prevention and online authentication industries are evolving remarkably, but so does the fraud landscape. The security threats target the online business environment, especially the ecommerce and banking sectors.
At present, many business processes depend on the use of technology. This allows people committing fraud to exploit weaknesses in security controls or oversight in business applications to commit their crimes. All parties concerned should pay attention to the current threatscape, because the fraud issue concerns all companies in relation to security services providers and the clients. Criminals typically try to capture users’ data, because it is a valuable asset. Card details, sensitive data, all personal information can be used for illicit practices in the online space. Just to mention a few, one should pay attention to account takeover, CNP fraud, phishing, disputes and CEO fraud. All these scams can be addressed with fraud management tools, like machine learning, chargeback guarantee, device biometrics, address verification etc.
In the e-identity landscape, there is a lot of talk around authentication as a solution to the identity challenge. Authentication combined with fraud detection can help stopping fraud based on actual risk. Also, poor authentication can ease the work for a fraudster seeking to steal credentials. At this point, in the payments ecosystem, the real challenge is to implement a strong authentication for a successful transaction.
The Paypers has seen the request for an all-in-one guide, therefore, the company provided the 5th edition of The Web Fraud Prevention & Online Authentication Market Guide 2016/2017 which emphasizes the latest insights into the key web fraud and online authentication disruptive innovations and challenges that have set up the bar in making the web a safer environment for customers.
This Guide has a lineup of associations, experts and thought leaders in the industry, that together have provided to The Paypers readership, multiple perspective views on hot topics for 2016, such as:
- Industry threat landscape – new developments in financial fraud;
- Machine learning – advantages and disadvantages to using machine intelligence;
- PSD2: strong authentication – what it is, how does it impact merchants and consumer but mostly – how safe is it;
- Omnichannel fraud & risk management as well as fraud concerns in a mobile environment, topics which gain more and more ground as we shift from an online to a mobile medium.
We have also approached the Endpoint protection matters, such as Open Banking and APIs, and a section on Global Regulations, such as The 4th AML Directive, EBA’s guidelines on internet payment security and the NIS Directive.
Furthermore, upon our readers’ request, we have taken the initiative to create an explanatory infographic including different solution providers in the ecosystem of Fraud Management, Online Authentication, Endpoint protection. The infographic is our response to a clear demand on the market for an all-in-one, easy to read, classification of types of fraud and service providers. Think of it as your very own “yellow pages” of everything that is related to fraud.
Download a free copy of the Web Fraud Prevention and Online Authentication Market Guide 2016/2017 to get access to an insightful outline of the global digital identity and web fraud ecosystem.