According to, NuData Security, a behavioral biometrics company, automated attacks used to power identity-based cybercrime from social engineering, credit card cycling, to account takeover and application fraud rose 500% during the last quarter.
Fueling Crime as a Service
In 2016, more than 4.2 billion records were stolen in data breaches.* It is this type of information that is leveraged by organized crime, hackers and others to create new accounts using stolen credentials.
These automated attacks are combined with the rise of human farms comprised of low cost, low skilled workers who are used to defeat modern fraud detection services.
They are trained to look for machine-based or scripted automation and used where defensive systems can be overcome with human interaction.
These automated attacks are employed to create new accounts using stolen credentials.
The accounts are then aged giving eCommerce, financial and other websites the confidence that this is an authentic account.
Human farms then activate the account, stealing products and services at will.
This is a serious issue for online merchants as evidenced by Javelin Research that found more than 7.5% of online merchants’ revenue is eaten up by the cost of actual fraud and costs associated with fraud-prevention tools.
Aite Group LLC estimates that so-called card-not-present fraud will rise to $4 billion this year from $3.2 billion in 2015 and expects that figure to jump to $7.2 billion in 2020.*
Next Generation Authentication
Passive behavior biometrics is the next generation technology that helps companies detect and stop identity theft by identifying authentic customers.
Even if criminals secure real credentials, mobile devices, passwords etc, passive biometrics can detect a real customer from an imposter by their behavior which cannot be duplicated.
A digital profile based on multiple dimensions, including behavioral analysis, passive behavioral biometrics, and device and access intelligence can be assembled.
Creating and using this user profile, passive biometrics looks at such things as how a person uses their keyboard.
Other behavioral aspects to analyze are: What is the user’s type speed and deviation?; Do they normally use a touchpad or a trackball?; Do they appear to be left or right handed?;
On a mobile device, the profile would include how the person holds the device spatially. Is it the same way the person has held the device in the past? How do the person’s fingers plot on the screen?
Behavior traits cannot be stolen or replicated which in itself provides a level of security.
(Learn More, courtesy of NuData Security and YouTube)
NuData Security helps companies identify users based on their online interactions, utilizing behavioral biometrics.
NuData’s flagship product – NuDetect is used by some of the biggest brands in the world to prevent fraud and offer a great customer experience.
NuDetect is trusted by some of the largest e-commerce and banking companies in the world to protect them from threats like automated account creation, account takeover and transaction fraud.
NuDetect continuously verifies a users’ online identity by authenticating the user based on their natural interactions online – behavior that can’t be mimicked or replicated by a third party. NuData Security verifies that the behavior observed in a session is consistent with their profile.
By analyzing over 80 billion behaviors annually, NuData harnesses the power of behavioral and biometric analysis, enabling its clients to accurately identify the human behind the device. This allows clients to verify users before a critical decision, stop automation, reduce customer insult, and investigate bad actors efficiently.
Unlike single-point solutions, NuDetect uses the power of its four integrated technologies to detect anomalous and high-risk behavior in real-time and across the NuData Trust Consortium.
Data Breaches Exposed 4.2 Billion Records In 2016
* More than 7.5% of online merchants’ revenue is eaten up by the cost of actual fraud and costs associated with fraud-prevention tools, according to Javelin Research.
*Aite Group LLC estimates that so-called card-not-present fraud will rise to $4 billion this year from $3.2 billion in 2015. It expects that figure to jump to $7.2 billion in 2020.
