Trusteer announced its Cybercrime Prevention Architecture for e-commerce, which provides “bank grade” security to retailers, social media, dating, gaming and other consumer website operators to prevent account takeover, stop payment fraud and protect their customers’ data from being stolen.
By monitoring the full e-commerce attack life cycle and detecting compromised user devices and accounts before unauthorized transactions can take place, Trusteer’s solution short circuits fraud attempts.
Criminals are targeting e-commerce sites using the same sophisticated techniques being used to attack banks. These advanced threats are rendering existing e-commerce fraud controls obsolete. The resulting increase in fraud incidents is inflicting significant financial (chargebacks), brand and customer experience damage on website operators.
According to Gartner, trends in web fraud detection include: “Less reliance on device identification as criminals learn to thwart it, and also because it is not fully effective (only about 70%) on mobile devices, where less information is available to the identification process. Similarly, less reliance on proxy-piercing technology, which is becoming much less reliable (about 50% to 60%) as criminals learn to circumvent it.”
rusteer’s solution goes beyond current Device ID and proxy piercing solutions to track the full attack life cycle by detecting user devices and accounts compromised by malware and phishing in order to stop account takeover and payment fraud before it happens. This is accomplished by combining sophisticated device intelligence with Trusteer’s proven malware and phishing detection technology.
The company can quickly identify known criminal devices through its Global Criminal Device Database that is automatically populated based on the routine analysis of over 100 million protected endpoints. By correlating device and account risk factors in real-time Trusteer prevents high-risk access attempts and transaction requests. Trusteer’s solution spans mobile, PC and MAC platforms to provide highly accurate and actionable fraud risk detection.
“E-commerce organizations continue to experience significant fraud losses. Criminals are now targeting their sites with online banking attack techniques that can easily defeat their existing security mechanisms,” said Eric Blatte, Vice President, North America for Trusteer.
“Trusteer’s cybercrime prevention architecture currently protects hundreds of financial organizations and their customers against online fraud with proven, sustainable security that dynamically adapts to changes in the threat landscape. Our unique end-to-end visibility into the full fraud lifecycle can stop current and emerging e-commerce attacks that evade traditional, silo-based security products,” Blatte added.