What weapons digital payment cyber-fraudsters have prepared for 2016 and won’t hesitate to use. How to prepare your battleground to have a good sleep….

First look at this compilation of digital trends in 2016 from the Business perspective:

• All business transforms to Digital Business
• More consumers will use more digital services and online accounts more often
• Mobile will become the preferred method for the broader population
• Each new service or market will attract cybercriminals
• Attackers will use a 360-degree approach looking for a lowest resistance breach

Looking into 2016 Fraudulent Cyber attacks, the following trends and attack shifting may be expected and followed, with attacker decisions based on knowledge of a bank / financial institution he has attacked in the past or has chosen as a first-time target. We dig deeper into malware code and the fraudulent scene and discover “unactivated” potential in already perpetuated attacks.

• PC to Mobile threats shifting
• Older device exploitation, mostly PC and SOHO router exploitation
• Older attack reuse
• Remote Administration Tool use
• Activation of alternative payment method fraud
• Activation of alternative authorization method fraud
• Cross channel fraud
• Social engineering driven attacks

The morale is still the same – what you don’t see is much bigger and dangerous than what is directly visible. But think ahead, are attackers attacking “on the surface”, which is what the term “360” refers to, or in the space above and below the surface ? Our recommendations for on-line fraud detection for the year 2016 are:

• 360-degree Digital Identity protection is a must – Continuous behavioral profiling of users, transactions, accounts, channels is an approach to bet on in the following years, also recommended by Gartner.
• A layered approach that enables 360-degree protection – Enabling one to react to a broad spectrum of attack vector combinations helps to minimize fraud. Prepare the battleground, dominate the game. Avoid being in reaction/firefighting mode.
• Orchestration of security solutions is key to 360 protection – seeing is important, but results are delivered through stopped fraud, which means the correct detection methods are applied each time, thus enabling one to detect exactly the attack that is going on or just being prepared. That’s why orchestration is so important.
• Customer experience and relationship is an Asset to protect – Know your client. Know your attackers. Start knowing who is interacting with your online channels through passive biometric analysis.

Key Gartner’s recommendations in selecting an OFD (online fraud Detection) solution include:

• Recommendation 1: “The ultimate goal of OFD is: continuous behavioral profiling of users, accounts and channels.”
• Recommendation 2 for Fraud managers: “Use a layered approach to detect online fraud in order to increase your chances of beating the fraudster.”
• Recommendation 3 for Fraud Managers: “Give priority to vendors that provide multiple layers of protection, users and account profiling, and behavioral analytics.”

We are ready to prove, that Gartner’s recommendations in selecting OFD are more than applied in our solution, including passive biometric analysis which according to Gartner will become a standard feature of at least 30% of one-stop fraud detection solutions in 2017— up from less than 1% today.

We don’t follow, we have created a solution that realizes Gartner’s analyst-derived imagination. We have all this now and here prepared to show on Conference SECURITY 2016 held in Prague.

Sleep well. We are watching.