Given the scale of activities we conduct online, and the number of things now connected to the internet, there is no possible way to monitor all the security threats. To make things worse, fraud is also evolving, meaning criminals are exploiting cooperation and communication to find the weakest spots in corporate security systems and attack them. To beat fraud and ensure a seamless digital experience, Kaspersky is here to save the world with cutting-edge technologies powered by machine learning for accurate and proactive fraud prevention in real-time. Kaspersky is a global cybersecurity company founded in 1997 with its roots in antivirus solutions. Its mission is simple: to build a safer world. The company believes in a tomorrow where technology improves our lives.
Today, cybersecurity is about more than just protecting devices. It’s about developing an ecosystem where everything related to technology is immune to cyberthreats. That’s why Kaspersky expanded beyond its antivirus lab to provide cybersecurity technologies across multiple threats. With over 20 years of experience in cybersecurity, a huge portion of the Kaspersky team is engaged in R&D and detecting the latest malware and cyberthreats.
Kaspersky Fraud Prevention
Kaspersky Fraud Prevention is a division of Kaspersky born out of the company’s desire to expand its mission to ensure that enterprise clients’ money is protected from scammers. Kaspersky Fraud Prevention collaborates with banks, e-commerce, e-government services, financial service companies, and any enterprise that interacts with their users via digital channels (web or mobile) to develop solutions to protect against threats, such as banking malware and Trojans targeting consumer devices. It starts looking for threats even before the user logs in. This serves as an excellent early warning tool to prevent fraud and money laundering before any money is moved, and to block access before any damage is done.
Kaspersky Fraud Prevention provides session-based anti-fraud solutions for enterprises interacting with customers through the web and mobile digital channels. It helps cut costs on alternative authentication methods, closes gaps in security, and provides visibility of incidents and anomalies in its web console. Now enterprises can save funds on second-factor authentication and operational costs, meet customer expectations by making the authentication and login process more seamless, and detect fraudulent activity in real-time.
In contrast to other providers, Kaspersky Fraud Prevention utilizes a full analysis of the device, environment, passive behavioral biometrics, and patterns, as well as the detection of any malicious traces on the device. The Kaspersky team believes that in order to tackle fraud, the approach should be holistic. Therefore, the company is committed to developing its fraud models to uncover patterns across channels and threat vectors.
Best user verification
Kaspersky takes a holistic approach to fraud prevention. Some vendors concentrate only on device ID or behavioral biometrics, but Kaspersky takes these factors into account along with 150 other parameters to determine if a session is legitimate. For example, if someone logged in to a particular user session using the Tor browser, other systems may flag that user to be blocked. However, there may be a legitimate reason for using that browser. It’s only when you analyze this behavior along with other aspects of a typical user or group behavior that a pattern emerges to show if something suspicious is going on. Also, as scammers have gotten better at persuading consumers to provide sensitive information, such as one-time passcodes (OTP), to complete their access/transaction, the responsibility has fallen to models to uncover signs that someone may be falling victim to a social engineering attack.
A significant impact
Kaspersky operates in over 200 countries with offices in 30 countries, so the effects of the pandemic have naturally been wide-reaching. Employees have been working from home to ensure their safety, but now that the lockdown measures of some countries have relaxed, certain offices have been allowed to reopen. However, team members are not under any pressure to return to the office, as everyone’s personal circumstances are different. The option is available in some cities if people prefer, but the majority of staff are still working from home for their own safety and to protect their families. Due to the nature of Kaspersky’s operations, i.e., essentially a technology company that helps businesses ensure secure remote connectivity, it was already well-positioned to work from home in a secure way. The company has virtual collaboration tools in place for remote meetings, so nobody is ever too far away if they need to chat about an idea.
When the pandemic hit, cybersecurity and protecting consumers online became ever-more important, with new scams and threats emerging that attempted to capitalize on the immediacy and uniqueness of the situation companies were facing. At Kaspersky, its mission statement is to “Save the World” and for Claire Hatcher, Global Head of Fraud Prevention Solutions, this message never felt more important than at a time when many traditional businesses were forced to move online.
A great asset to Kaspersky
In 2019, Claire Hatcher joined Kaspersky as a firm believer in collaborative fraud fighting and the importance of knowledge exchange in the field of cybersecurity. She has been at the forefront of the latest ideas and approaches in combatting fraud in finance, e-commerce, and the digital sector as a whole. Claire is confident that building a world immune to fraud is possible via effective collaboration. When she represents the Kaspersky brand at industry events, she focuses on topics such as the effect of the pandemic on the fraud industry, the rise of new technologies, and the best practices in preventing fraudulent activity in the digital channel of enterprises.
A good example of Claire’s input would be her support for Polys, Kaspersky’s Innovation Hub project aimed at developing and promoting a secure online voting platform for a variety of institutions, from business enterprises and schools to political parties.
The next-gen platform
Kaspersky Fraud Prevention plans to continue tuning its model to verticals beyond financial services in order to draw on holistic fraud trends occurring across verticals and channels. Thanks to its focus on session-based anti-fraud, the company is already fighting against fraud in markets outside of financial services. Its holistic approach encompasses over 150 different data attributes, using machine learning techniques across a variety of threat vectors, i.e., behavioral biometrics, device and environment analysis, behavioral analysis and malware detection. Kaspersky plans to continue these efforts to target fraud by analyzing more data attributes, especially when it comes to next-generation bots, passive biometrics, and social engineering techniques.
Testimonials
Anvar Sidorov, Director of Partnerships at Indacoin, provided his commentary: “The crypto exchange has many unique features, but in general, we share the main risks of financial institutions: security of cards and payment information, as well as security of personal accounts and safety of client’s funds. The implementation of Kaspersky Fraud Prevention helped to identify highly targeted fraud schemes, identify dishonest users with advanced precision and implement machine learning in the verification system.”
