Fraud The New Norm · Fraud –The New Norm Luke Niemiec –Entrust Datacard April 4, 2019

Fraud – The New Norm

Luke Niemiec – Entrust Datacard

April 4, 2019.

Proprietary and Confidential / Copyright Entrust Datacard 2

T H E D I G I T A L R E V O L U T I O N I S H E R E

A n d i s e s t i m a t e d t o c r e a t e u p w a r d s o f

$ 1 0 0 t r i l l i o n

i n v a l u e o v e r t h e n e x t d e c a d e .


Enhanced employee experiences

More efficient supply chainsStreamline processes

Profitable customer relationshipsImproved patient care

Faster time to market

DIGITAL BUSINESS IS ABOUT IMPROVING BUSINESS OUTCOMES

DIGITAL BUSINESS RELIES ON DIGITAL TRUST


THE IMPACT OF INADEQUATE DIGITAL TRUST

The humorous The worrisome The catastrophic

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AUTHENTICATION / FRAUD STORY

Full Office of Personnel

Management security check

forms for 34M employees and

names of over 120M

Names, DOB, Member ID /

SSN.

Addresses, phone numbers,

emails, and employment info

Name, Address,

phone #, email

Names, mailing addresses,

phone numbers and emails

Credit Card Details,

email addresses

Nearly 100% of breaches start with a stolen credential

-

10,000,000.00

20,000,000.00

30,000,000.00

40,000,000.00

50,000,000.00

60,000,000.00

70,000,000.00

80,000,000.00

90,000,000.00

100,000,000.00

Aug-13 Nov-13 Mar-14 Jun-14 Sep-14 Dec-14 Apr-15 Jul-15 Oct-15

Largest Breaches 2013 - Present

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FRAUD STORY?

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COMPREHENSIVE FRAUD DETECTION & PREVENTIONIT’S ABOUT TRANSACTIONS:

FINANCIAL

1.1 Credit Card

1.2 ACH/Debit

1.3 Friendly Chargeback

1.4 Insufficient Funds

1.5 Fraud – Other

1.6 Potential Fraud

1.7 Shipping Fraud

1.8 Counterfeit Money Order/Cashier’s Check

1.9 Click Fraud

1.10 Affiliate Fraud

1.11 First Party Fraud

1.12 Loan Default

CHEATING

2.1 Collusion

2.2 Chip Dumping

2.3 All-In Abuse

2.4 Trading Restriction

MISCONDUCT

3.1 Chat Abuse

3.2 SPAM

3.3 Abusive to Support

3.4 Promotion Abuse

3.5 Policy / License Agreement Violations

3.6 Customer Harassment / Bullying

3.7 Inappropriate Content

3.8 Profile Misrepresentation

3.9 Scammer / Solicitation

3.10 Code Hacking

3.11 Arbitrage Betting

3.12 Gold Farming

IDENTITY THEFT

4.1 True Identity Theft

4.2 Synthetic Identity Theft

4.3 Identity Mining (Phishing)

4.4 Account Take-Over / Hijacking

4.5 Failed Multi-Factor Authentication

POLICY FRAUD

5.1 Application Fraud—1st Party

5.2 Application Fraud—3rd Party

5.3 Claims Fraud—1st Party

5.4 Claims Fraud—3rd Party

B2B FINANCIAL

10.1 Business Identity Theft

10.2 Fictitious Business

10.3 Business Takeover

10.4 Dealer Fraud

10.5 Payment Evasion

10.6 Business Misrepresentation

MISCELLANEOUS

99.1 High Risk Users

99.2 Under / Over Age

99.3 Customer Requested Exclusion

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Entrust Datacard

Trusted Identity Assurance Platform

• trust the user

• trust the device

• provision a credential

• secure access

• secure transactions

• sign transactions

• monitor user behavior

• monitor session activity

• monitor system wide patterns

IDENTITY CREATION

Digitally onboard users and provision multi-purpose credentials

Mobile-based identity verification

Digital onboarding consumers , partners etc. (external users)

Digital and physical credentials (cloud-based ID card issuance)

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Entrust Datacard


INTELLIGENT IDENTITY

Authentication that is easy to deploy and easy to use

Cloud platform, modern provisioning & management

Mobile with proximity login & SSO

Advanced adaptive authentication including device identity assurance

• trust the user



• secure access






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Entrust Datacard


• trust the user



• secure access






CONTINUOUS TRUST

Assess both affirming and negative signals to continuously adapt to risk

Real-time monitoring and step up authentication

Multi-channel: cloud (CASB), web, email

Third party UEBA & SIEM platforms

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The journey to Continuous Authentication

By the end of 2020, 90% of large and global enterprises will employ rich analytics and adaptive authentication techniques. Gartner May 2018

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Beyond MFA: The Platform Needs the Whole Story

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Thank You

Documents

Fraud The New Norm · Fraud –The New Norm Luke Niemiec –Entrust Datacard April 4, 2019