No Such Thing as Small Fry in Cyberspace

Posted on July 21st, 2014 by Dan Rampe

Cybercrime

Cyberthieves Target Every Business Any Size All the Time

At the height of the subprime banking crisis, some companies were bailed out by the government because they were deemed “too big to fail.” Conversely, in the world of cybercrime, as a timesleader.com story points out (link to article), no company is too small to victimize.

Every business is at risk

A partial list from California’s attorney general shows the range and types of small businesses at risk — wine shops, dentist offices, colleges, gay and lesbian community centers, dog tag makers, sporting goods stores. So, who goes around targeting these businesses? Just about every kind of cybermiscreant you can think of: hackers; thieves who rip off office computers; disgruntled vendors who use stolen data to slander businesses or poach employees; ex-employees with an axe to grind.

Case in point

“80sTees.com of Pennsylvania discovered…someone believed to be a former high-ranking employee accessed the identities of customers all over the country. The retro shirt seller stopped accepting credit cards for four months, launched a new website and blocked all employees from accessing clients’ financial information.” You can imagine the resources in time and money this small company had to expend to put things right.

The cost of a small company breach

And, according to the National Small Business Association, 44 percent of respondents to a survey last year had been victims of at least one cyberattack, with an average $8,699.48 cost for each breach.

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

 

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

Last Year Data Breaches Cost Almost Half a Billion Dollars with over 800 Million Records Compromised

Posted on July 16th, 2014 by Dan Rampe

The Economist

More than Enough Material to Merit a Special Report, “Defending the Digital Frontier” by the Legendary British Journal, The Economist

If your Economics 101 class was anything like the ones many of us had to endure, just the word, “economist”, is enough to have you racing to the closest Starbucks for a double Venti. Fortunately, The Economist’s report is a lot livelier than that economics class back in the day — likely one of the reasons the publication’s been around since 1843.

Anyway, The Economist’s just released “Defending the Digital Frontier” (You may find the complete report by clicking this link.), which explores everything from possible remedies to the different types of hackers, their motives and modes of operation and why they can be so difficult to track.

Tracing the exact source of an attack can be next to impossible if the assailants want to cover their tracks.

Over the past decade or so various techniques have been developed to mask the location of web users. For example, a technology known as Tor anonymizes internet connections by bouncing data around the globe, encrypting and re-encrypting them until their original sender can no longer be traced.

Conversely, some hackers are only too happy to let the world know what they have been up to. Groups such as Anonymous and LulzSec hack for fun (“lulz” in web jargon) or to draw attention to an issue, typically by defacing websites or launching distributed-denial-of-service (DDoS) attacks… Anonymous also has a track record of leaking e-mails and other material from some of its targets.

Criminal hackers are responsible for by far the largest number of attacks in cyberspace and have become arguably the biggest threat facing companies. Some groups have organized themselves so thoroughly that they resemble mini-multinationals. The police found that [one] group was paying salaries to its staff and had hired a marketing director to tout its software to hackers. It even maintained a customer-support team.

The report also argues that there is a need to provide incentives to improve cybersecurity.

One idea is to encourage internet-service providers (ISPs), or the companies that manage internet connections, to shoulder more responsibility for identifying and helping to clean up computers infected with malicious software (malware). Another is to find ways to ensure that software developers produce code with fewer flaws in it so that hackers have fewer security holes to exploit.

An additional reason for getting tech companies to give a higher priority to security is that cyberspace is about to undergo another massive change. Over the next few years billions of new devices, from cars to household appliances and medical equipment, will be fitted with tiny computers that connect them to the

web and make them more useful. Dubbed “the Internet of things”, this is already making it possible, for example, to control home appliances using smartphone apps and to monitor medical devices remotely.”

And the report contains a number of fascinating anecdotes.

One night in April a couple in Ohio was [awakened] by the sound of a man shouting, “Wake up, baby!” When the husband went to investigate, he found the noise was coming from a web-connected camera they had set up to monitor their young daughter while she slept. As he entered her bedroom, the camera rotated to face him and a string of obscenities poured forth.

The webcam was made by a company called Foscam, and last year a family in Houston had a similar experience with one of their products. After that episode, Foscam urged users to upgrade the software on their devices and to make sure they had changed the factory-issued password. The couple in Ohio had not done so. The problem arose even though Foscam had taken all the right steps in response to the initial breach, which shows how hard it is to protect devices hooked up to the internet.

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

 

 

ThreatMetrix to Sponsor and Exhibit Context-Based Security Solutions at Cloud Identity Summit 2014

Posted on July 15th, 2014 by Dan Rampe

Cloud Summit

World’s Largest Identity Conference Will Bring Together Industry Leaders to Discuss Solutions for Today’s Identity Landscape

San Jose, CA – July 15, 2014 – ThreatMetrix®, the fastest-growing provider of context-based security and advanced fraud prevention solutions, today announced it is a Silver Sponsor and exhibiting at the upcoming Cloud Identity Summit 2014, held July 19-22 at the Monterey Conference Center in Monterey, Calif.

The Cloud Identity Summit is the largest annual event of its kind, bringing together top identity and security industry professionals. This year’s summit features workshops on a number of pressing identity topics, including identity management for today’s enterprise, the Internet of Things and identity management for the masses. Each year, these workshops serve as a roadmap to deploy solutions for the changing identity landscape.

“As businesses and technology continue to move to the cloud, enterprises are realizing the need to implement a modern security strategy to distinguish between good and bad actors at the point of sign-on before they even get a chance to access sensitive information,” said Bert Rankin, chief marketing officer, ThreatMetrix. “We’re excited to sponsor and exhibit at this year’s Cloud Identity Summit and to share our expertise in advanced fraud prevention and context-based authentication.”

This year’s Cloud Identity Summit host sponsor is Ping Identity and ThreatMetrix recently announced an integration with Ping Identity’s PingFederate® identity bridge. The integration leverages context-based authentication and single sign-on, which enables enterprises to deliver secure, frictionless access to their business and customer centric applications for all users.

The ThreatMetrix and Ping Identity integration works in three steps:

  • At the point of sign-on, ThreatMetrix – in real time – analyzes the connecting device, associated online personas, current transaction context and past behavior
  • This resulting analysis is used by a global policy engine that lets businesses define appropriate risk and trust levels to determine access
  • Based on achieving a predefined level of trust, users are granted access through Ping Identity’s PingFederate solution to all their associated applications and online resources

Following the Cloud Identity Summit, ThreatMetrix is participating in the Ping Cup competition on Wednesday, July 23. ThreatMetrix was chosen as one of five new integrations to demonstrate its solution in the competition and the winner will be awarded $2,002 to be donated to its charity of choice.

To register for the Cloud Identity Summit, visit https://www.cloudidentitysummit.com/events/cloud-identity-summit-2014/registration-e09252dca9f144cbbd77691980893949.aspx.

ThreatMetrix Resources

About ThreatMetrix

ThreatMetrix builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

© 2014 ThreatMetrix. All rights reserved. ThreatMetrix, TrustDefender ID, TrustDefender Cloud, TrustDefender Mobile, TrustDefender Client, the TrustDefender Cybercrime Protection Platform, ThreatMetrix Labs, and the ThreatMetrix logo are trademarks or registered trademarks of ThreatMetrix in the United States and other countries. All other brand, service or product names are trademarks or registered trademarks of their respective companies or owners.

Media Contacts
Dan Rampe
ThreatMetrix
Tel: 408-200-5716
Email: drampe@threatmetrix.com

Beth Kempton
WalkerSands Communications
Tel: 312.241.11178
Email: beth.kempton@walkersands.com

 

 

ThreatMetrix Exhibits Context-Based Security at World’s Largest ID Conference

Posted on July 15th, 2014 by Dan Rampe

Cloud Summit

The Cloud Identity Summit 2014 Runs from July 19-22 at the Monterey Conference Center in Monterey, California

ThreatMetrix is a Silver Sponsor of this year’s Cloud Identity Summit, the largest annual event of its kind designed to bring together the world’s top identity and security industry experts.

Workshops

The Summit features workshops that serve as a roadmap for deploying solutions for the ever-changing and evolving identity landscape. Workshops will cover:

  • Identity management for today’s enterprise
  • The Internet of Things
  • Identity management for the masses
  • And more

ThreatMetrix’s Chief Marketing Officer

“As businesses and technology continue to move to the cloud, enterprises are realizing the need to implement a modern security strategy to distinguish between good and bad actors at the point of sign-on before they even get a chance to access sensitive information,” said Bert Rankin, chief marketing officer, ThreatMetrix. “We’re excited to sponsor and exhibit at this year’s Cloud Identity Summit and to share our expertise in advanced fraud prevention and context-based authentication.”

Ping Identity

This year, the host sponsor of the Cloud Identity Summit is Ping Identity, whose PingFederate identity bridge has been integrated with ThreatMetrix security solutions. The integration leverages context-based authentication and single sign-on. Together they let enterprises provide users with secure, frictionless access to their business and customer-centric applications.

ThreatMetrix and Ping Identity 3-step integration:

  1. At the point of sign-on, ThreatMetrix – in real time – analyzes the connecting device, associated online personas, current transaction context and past behavior
  1. This analysis is used by a global policy engine that lets businesses define appropriate risk and trust levels to determine access
  1. Based on achieving a predefined level of trust, users are granted access to all their associated applications and online resources through Ping Identity’s PingFederate solution

The Ping Cup competition

Following the Cloud Identity Summit, ThreatMetrix, which was selected as one of five new integrations to demonstrate its solution, will participate in the Ping Cup competition on Wednesday, July 23. The winner will be awarded $2,002 to be donated to a charity of its choice.

To register for the Cloud Identity Summit, visit https://www.cloudidentitysummit.com/events/cloud-identity-summit-2014/registration-e09252dca9f144cbbd77691980893949.aspx.

ThreatMetrix Resources

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

 

 

 

 

Millions Spend a Billion-a-Day in UK

Posted on July 14th, 2014 by Dan Rampe

BBA

BBA Report Has Brits Spending Close to £1 Billion (1.5 billion USD) per Day Using Mobile and Online Devices

The accounting firm, EY, and British Bankers Association (BBA) report, “The Way We Bank Now: It’s in Your Hands,” (link to report) notes that millions of UK customers use contactless cards (pocket-sized cards with embedded chips for processing and storing data), payment by mobile and SMS balance alerts. And, this year, in the UK, more than 15,000 people each day will be downloading banking apps.

Highlights from the report:

  • Internet and mobile banking is now used for transactions worth £6.4 billion (11 billion USD approximately) a week – up from £5.8 billion (9.9 billion USD approximately) last year.
  • Banking apps for mobiles and tablets have now been downloaded more than 14.7 million times – a 2.3 million rise since January at a rate of around 15,000 per day in 2014.
  • Internet banking services typically receive 7 million log-ins a day
  • Spending on contactless cards is expected to rise to £6.1 million (10 million USD approx.) a week this year – up from £3.2 million (55 million USD approximately) in 2013.

CEO of BBA

“This report shows just how enthusiastically the British public is embracing mobile banking, contactless cards and a range of other consumer-friendly banking technologies,” said Anthony Browne, chief executive of the BBA.

“This study shows that banks have, are and will continue to compete against one another to offer customers innovative technology. It’s a revolution putting more power in your hands.”

Mobile on the move

In his article on cbronline.com (link to article), Michael Moore cites Juniper Research’s prediction that more than 1.75 billion mobile phone users will be using their devices for banking by the end of 2019 compared to 800 million this year, and that countries like India and China will be driving this growth over the next several years.

Juniper Research’s Nitin Bhas, who wrote the report says, “The level of maturity in number and innovation of services being offered in the market across several geographical areas demonstrates that banks now regard the mobile channel as an indispensable revenue-stream.”

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

 

 

 

Believe It or Not. Money May Be the Least of the Hassles Caused by ID Theft.

Posted on July 11th, 2014 by Dan Rampe

Identity Theft

“Who steals my purse steals trash…But he that filches from me my good name… makes me poor indeed.” — Othello Act 3, scene 3

Don’t believe money is the least of the problems identity theft causes? Okay, so maybe neither do we. But, Bob Sullivan on bobsullivan.net makes a good case for damage done by ID theft that’s not directly related to money. However, somewhere down the road, the bottom line is almost invariably the bottom line for the victim who’s stuck with a financial mess to clean up. And, even the process of cleaning up the mess costs time…and usually money.

In any case, Sullivan points out some surprising ways that ID theft hurts. The following has been edited to fit our format. You may find Sullivan’s complete article by clicking on this link.

1. Hurt Your Job Prospects

Many employers now routinely look at credit history when assessing job candidates. (About half, according to a 2012 study by the Society for Human Resource Management.) A report pockmarked by ID theft-related errors could sink your application. [Posting] your resume online or on job boards can also increase your chances of becoming an identity theft victim.

2. Cause Your Auto Insurance Rates to Rise

Virtually all auto insurers use credit scores to set rates, wherever it’s legal (California and Massachusetts ban the practice). A low score can hike premiums by 20% to 50%.  Insurers can’t outright reject you because of your credit score without telling you, but they can use the score to offer you higher rates without giving you an explanation.

3. Get You a Surprise Tax Bill

One form of ID theft known as SSN-only ID theft involves using a victim’s Social Security number in job applications, generally to fulfill government residency status requirements…. [If] the impostor ultimately fails to pay taxes, the Internal Revenue Service will try to collect from the rightful holder of the SSN.

4. Impact Your Social Security Income Credits

[Earnings] erroneously credited to an SSN can cause chaos when the rightful SSN holder tries to apply for benefits.

5. Slow Down Your Tax Refund

The Treasury Department’s inspector general says 1.6 million taxpayers were impacted by identity theft in the first six months of 2013….The IRS has massively stepped up its anti-ID theft efforts, and turned up its fraud filters, which means it has slowed down returns for many legitimate taxpayers.

6. Leave You with a Criminal Record/Get You Arrested

If a criminal is arrested and uses your name or your stolen driver’s license during booking, you could end up with a criminal record. Innocent people have been arrested during routine traffic stops and in front of their children, and some have even been thrown in jail for murder allegations.  The problem became so serious at one point that several states created a special document called an “Identity Theft Passport” to be carried by victims to prevent a wrongful erroneous arrest.

7. Kill You (Virtually)

July Rivers of Alabama … wanted to open [a bank] account. The bank refused… According to its information, she was dead. Soon, she found she was unable to get credit anywhere for the same reason…. A living, breathing human being could not convince financial institutions that she was alive. They trusted their databases instead…. Eventually she learned an ID thief was using her information and apparently decided that registering himself/herself as dead was the best way to run away from creditors. Rivers had to spend years cleaning up the mess. The Social Security Administration wrongly declares about 14,000 people dead every year.

8. Get You the Wrong Treatment at a Hospital

Doctors can create fake patients and file fake claims, for example. One such victim discovered falsified claims for psychiatric sessions when he applied for a job, according to the World Privacy Forum…. [Creation] of a [phony] medical record [may impact a] victim’s future treatment. Ponemon surveyed victims, who said…they’d experienced a misdiagnosis, (15%), mistreatment (13%), delay in treatment (14%), or were prescribed the wrong drugs (11%).

9. Keep Your Kids from Getting College Financial Aid

[This] crime is usually discovered when would-be college students fill out their first financial aid forms…. [Fraudulent] earnings that end up attached to an under-aged child can have a direct impact on that student’s eligibility for financial aid, and in extreme circumstances, delay enrollment in college.

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

 

ThreatMetrix CEO to Speak at SINET Innovation Summit 2014

Posted on July 10th, 2014 by Dan Rampe

Reed Taussig, ThreatMetrix CEO, to Participate in a Panel on Protecting Against Emerging Trends in Cybercrime

San Jose, CA – July 10, 2014 – ThreatMetrix®, the fastest-growing provider of context-based security and advanced fraud prevention solutions, today announced it is speaking at the Security Innovation Network (SINET) Innovation Summit 2014, July 17 at The Times Center in New York.

The SINET Innovation Summit connects America’s three most powerful epicenters – Wall Street, Silicon Valley and the Beltway – to highlight the importance of industry, government and academic collaboration on joint research initiatives. The summit is designed to reinvigorate public-private partnership efforts and increase relationships that foster the sharing of information and joint collaboration on cybersecurity research projects.

Reed Taussig, CEO at ThreatMetrix, will participate in a panel at the summit titled “The Emerging Trends in Cyber Fraud and How to Defend Against It.” The panel will address the impact organized cybercrime has on our economy, where those threats are originating and the potential impact U.S. national security, among other pressing issues. Attendees will learn strategic and tactical solutions to combat organized cybercrime.

“The scope of cybercrime these days reaches above and beyond what many people recognize and a collective approach to cybersecurity is necessary to prevent evolving threats,” said Taussig. “In addition to the risks consumers and businesses face with increased online activity, our nation’s critical infrastructure faces more severe risks than ever before as water, power and other critical utilities move online. ThreatMetrix leverages the power of our comprehensive cybercrime data repository to help protect businesses across a wide range of industries – from financial services to government agencies – in real time and I’m looking forward to sharing our approach to cybersecurity with SINET Innovation Summit attendees.”

ThreatMetrix protects its customers and with its ThreatMetrix TrustDefender™ Cybercrime Protection Platform, which combines comprehensive data collection, behavioral analytics and ThreatMetrix® Global Trust Intelligence Network (The Network) to differentiate between authentic and fraudulent activity and protect against account takeover, payment fraud, fraudulent account registration and multi-channel Web fraud.

To register for the SINET Innovation Summit, visit http://www.security-innovation.org/innovation-summit_2014.htm.

ThreatMetrix Resources

About ThreatMetrix

ThreatMetrix builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

© 2014 ThreatMetrix. All rights reserved. ThreatMetrix, TrustDefender ID, TrustDefender Cloud, TrustDefender Mobile, TrustDefender Client, the TrustDefender Cybercrime Protection Platform, ThreatMetrix Labs, and the ThreatMetrix logo are trademarks or registered trademarks of ThreatMetrix in the United States and other countries. All other brand, service or product names are trademarks or registered trademarks of their respective companies or owners.

Media Contacts
Dan Rampe
ThreatMetrix
Tel: 408-200-5716
Email: drampe@threatmetrix.com

Beth Kempton
WalkerSands Communications
Tel: 312.241.11178
Email: beth.kempton@walkersands.com

 

 

ThreatMetrix CEO Reed Taussig to Speak at SINET Innovation Summit

Posted on July 10th, 2014 by Dan Rampe

Sinewt

Security Innovation Network (SINET) Innovation Summit 2014 July 17 at The Times Center in New York City

Wall Street, Silicon Valley and the Beltway will all be represented at SINET emphasizing the importance of industry, government and academia working together in close cooperation to further cybersecurity research.

ThreatMetrix CEO, Reed Taussig will take part in the panel, “The Emerging Trends in Cyber Fraud and How to Defend Against It,” which addresses:

  • The impact organized cybercrime has on the economy
  • Where those threats originate
  • The potential impact on national security
  • Strategic and tactical solutions to combat organized cybercrime

“The scope of cybercrime these days reaches above and beyond what many people recognize and a collective approach to cybersecurity is necessary to prevent evolving threats,” said Reed Taussig, CEO, ThreatMetrix. “In addition to the risks consumers and businesses face with increased online activity, our nation’s critical infrastructure faces more severe risks than ever before as water, power and other critical utilities move online. ThreatMetrix leverages the power of our comprehensive cybercrime data repository to help protect businesses across a wide range of industries – from financial services to government agencies – in real time and I’m looking forward to sharing our approach to cybersecurity with SINET Innovation Summit attendees.”

ThreatMetrix protects its customers with its ThreatMetrix TrustDefender™ Cybercrime Protection Platform, which combines comprehensive data collection, behavioral analytics and the ThreatMetrix® Global Trust Intelligence Network (The Network) to differentiate between authentic and fraudulent activity and protect against account takeover, payment fraud, fraudulent account registration and multi-channel Web fraud.

To register for the SINET Innovation Summit, visit http://www.security-innovation.org/innovation-summit_2014.htm.

ThreatMetrix Resources

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.

ThreatMetrix Is on Fire!

Posted on July 8th, 2014 by Dan Rampe

411Leads Award

“One of the Hottest Companies in Silicon Valley” Says Lead411

Lead411, which provides information, news, and research about U.S. companies and their executives, named ThreatMetrix, a leader in context-based security and advanced fraud protection, to its 2014 “Hottest Companies in Silicon Valley” list.

From 3,479 companies to just 71

Starting with 3479 companies in the software, wireless, Internet, hardware and media industries, Lead411 eliminated all but 71, which didn’t meet its criteria of being privately held and either doubling revenue over the past two years or receiving funding of more than $5 million over that period. In March 2014 ThreatMetrix secured $20 million in Series E funding led by Adams Street Partners.

Bert Rankin, chief marketing officer

“We’re thrilled to be recognized as one of the fastest-growing software companies in Silicon Valley,” said Bert Rankin, chief marketing officer, ThreatMetrix. “Our fraud and security solutions collect valuable information and provide real-time insights to protect against account takeover, payment fraud, fraudulent account registration and multi-channel Web fraud. As cybercriminals become increasingly sophisticated, businesses must leverage a collective network to protect against online threats and our recent round of funding serves as validation of the high level of trust in our solution.”

The Network

Through the ThreatMetrix Global Trust Intelligence Network (The Network) – the world’s largest network of shared intelligence –ThreatMetrix is positioned to effectively protect businesses and individuals against cybercrime without disrupting the user experience. The Network enables businesses to share anonymized information across business boundaries to deliver the most comprehensive risk assessment in real-time.

Lead411 CEO

“This year’s Hottest Silicon Valley Award winners are stronger than ever. We expect to see large growth and ‘big things’ from this group,” said Tom Blue, Lead411 CEO.

For a full list of winners, visit http://www.lead411.com/awards/2014/silicon-valley.html.

ThreatMetrix resources

Winning award after award

In addition to Lead411’s award, ThreatMetrix has garnered a whole host of awards:

  • Products Guide (NPG) Hot Companies and Best Product Award Winner for the “Best Products and Services – Information Security and Risk Management” category and also in the “Best Products and Services – Security Software” category.
  • Judges Choice for Best Overall Fraud/Security Solution at the 2014 CardNotPresent.com (CNP) Awards for the ThreatMetrix TrustDefender Cybercrime Protection Platform
  • A 2014 Global Excellence Award for Most Innovative Company of the Year (Security)
  • 2014 Cyber Defense Magazine Award Winner in 2 Categories: Most Innovative Anti-Malware Appliances Solution & Best Product Network Access Control Solution
  • Named One of SINET’s Top 16 Cybersecurity Solution Entrepreneurial Companies.
  • Won an American Business Award Gold Stevie in the category of the “Best New Product or Service of the Year – Software – Security Solution” and a Silver Stevie for the “Most Innovative Tech Company of the Year.”
  • Named a TechNavio Top 15 Cloud Security Company
  • Gold for “Most Innovative Company of the Year” in Best in Biz Awards 2013 International
  • Named to the 2013 AlwaysOn Global 250 Top Private Companies List
  • Placed in the “Visionaries” quadrant of the “Magic Quadrant for Web Fraud Detection” by Gartner
  • Named one of the Top 15 Most Important Startups of 2013 by Business Insider
  • Named a winner in the Enterprise Product of the Year category by The Best in Biz Awards, the only independent business awards program judged by members of the press and industry analysts
  • Made the Wall Street Journal’s top 50 “Next Big Thing” list
  • Was a finalist in the Merchant Risk Council Emerging Technology Awards (METAwards) for contributions to helping e-commerce merchants fight online fraud and reduce losses in online payment transactions
  • Was a Red Herring Global 100 Winner for being one of the top hundred leading private companies in North America, Europe, and Asia

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

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Sunshine State Puts Heat on Companies

Posted on July 7th, 2014 by Dan Rampe

Florida

Florida Enacts New Breach Notification Law Increasing Reporting Obligations and Liability

Joining other states which have recently strengthened their data security laws, Florida has enacted a law requiring written notice to the Department of Legal Affairs if more than 500 Florida residents are affected by a breach as well as notifying the individuals affected within 30 days. Additionally, companies must offer written proof to the Department of Legal Affairs when a breach has not resulted in or isn’t likely to result in identity theft or other financial harm – though they don’t have to notify their customers.

Includes medical and healthcare info

Katie Riley, an attorney, writing on adlawaccess.com (link to article) notes the new law “revises the definition of personal information to include medical and health insurance information and an individual’s user name or email address in combination with [a] password or security question and answer.”

Third-party requirements

It also “requires that third-party agents notify a company of a breach of security within 10 days, and, although the third-party agent may provide the required notice, the company is ultimately responsible for any failure by the agent to provide proper notice.”

Penalties for violation

Violation of the law gives Florida’s attorney general the power to “bring actions for a declaratory judgment, injunction, or actual damages.

“These remedies are, in addition to the civil penalties the Department may assess, up to $500,000, for failure to comply with…notice requirements.”

ThreatMetrix® builds trust on the Internet by offering market-leading advanced fraud prevention and frictionless context-based security solutions. These solutions authenticate consumer and workforce access to mission critical applications using real-time identity and access analytics that leverage the world’s largest trusted identity network.

ThreatMetrix secures enterprise applications against account takeover, payment fraud, fraudulent account registrations, malware, and data breaches. Underpinning the solution is the ThreatMetrix® Global Trust Intelligence Network, which analyzes over 500 million monthly transactions and protects more than 160 million active user accounts across 2,500 customers and 10,000 websites.

The ThreatMetrix solution is deployed across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government and insurance.

For more information, visit www.threatmetrix.com or call 1-408-200-5755.

Join the cybersecurity conversation by visiting the ThreatMetrix blogFacebookLinkedIn and Twitter pages.