ThreatMetrix CTO Andreas Baumhof to Present on Mobile Banking and Cybercrime Risks at FS-ISAC & Bits Annual Summit May 4-7, Amelia Island, Florida

Posted on May 2nd, 2014 by Dan Rampe

Titled “Mobile Banking Fraud: Are Your Defenses Up to Date?” Andreas Baumhof’s presentation will focus on mobile banking threats from a user’s point of view. In addition, it will emphasize how a global trust intelligence network can help financial institutions prevent cybercriminals and hackers of all kinds from exploiting mobile’s security, which has shown itself to be anything but robust.

The FS-ISAC & BITS Annual Summit runs from May 4-7, at the Omni Amelia Island Plantation Resort, Amelia Island, Florida. And, Baumhof will give his presentation on Wednesday, May 7 from 10:15-10:45 a.m. ET.

The 2014 Annual Summit expects to draw close to 500 industry executives and security experts to discuss the latest information on cybersecurity threats, trends and technology as they affect the financial services industry.

The Financial Services Information Sharing and Analysis Center or FS-ISAC is a non-profit association of financial institution members dedicated to protecting the financial services sector from physical and cyberthreats, attacks and other incidents. FS-ISAC carries out its mission by disseminating trusted and timely information.

Cyberthreats come from many quarters, account takeovers to ID theft. And over the course of his career, Andreas Baumhof has dealt with them all. With this accumulated knowledge and experience, Baumhof is able to speak with authority about the growing sophistication of mobile banking fraud and offer real-world examples of how financial institutions can mitigate such threats.

“Financial institutions are primary targets for cybercriminals as their mobile penetration is much higher than the average website,” said Baumhof. “At the same time, mobile comes with its own challenges as traditional two-factor authentication doesn’t work when the transaction originates from a mobile device. Guidelines such as the Federal Financial Institutions Examination Council (FFIEC) requirements apply to all transactions, but in reality different types of transactions – such as mobile – require targeted cybersecurity strategies. At the summit, we’ll demonstrate how to define a holistic strategy that includes mobile as an integral part to prevent account takeover, malware attacks and fraudulent registrations.”

The TrustDefender™ Cybercrime Protection Platform makes ThreatMetrix uniquely positioned to address FFIEC requirements for protecting the integrity of online customer accounts and financial transactions. The platform enables financial institutions to:

• Address FFIEC layered security banking guidelines

• Recognize returning customers using complex device intelligence

• Identify high risk transactions through device and transaction anomalies

• Protect legitimate customers and transactions from targeted malware

• Detect compromised devices that represent a risk to your organization and customers

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 Present on “Mobile Banking Fraud: Are Your Defenses Up to Date?” at FS-ISAC & BITS Annual Summit

Posted on May 1st, 2014 by Dan Rampe

Andreas Baumhof, Chief Technology Officer, Will Educate Attendees on the Growth of Mobile Banking and Associated Cybercrime Risks

San Jose, CA – May 1, 2014 – ThreatMetrix®, the fastest-growing provider of context-based security and advanced fraud prevention solutions, announced today that Andreas Baumhof, chief technology officer, ThreatMetrix, will present at the FS-ISAC & BITS Annual Summit, May 4-7, at the Omni Amelia Island Plantation Resort, Amelia Island, Fla.

FS-ISAC – the Financial Services Information Sharing and Analysis Center – is a non-profit association comprised of financial institution members. The organization is dedicated to protecting the financial services sector from physical and cyber threats, attacks and incidents through the dissemination of trusted and timely information. The 2014 Annual Summit expects to draw in nearly 500 industry executives and practitioners to discuss the latest information on cybersecurity threats, trends and technology in the financial services industry.

Baumhof’s presentation, titled “Mobile Banking Fraud: Are Your Defenses Up to Date?” will take place on Wednesday, May 7 from 10:15-10:45 a.m. ET. The presentation will focus on mobile banking threats from a user point of view, but equally emphasize how a global trust intelligence network can help financial institutions avoid fraudsters and hackers attempting to exploit mobile’s weakened security.

From account takeover to identity theft, Baumhof will provide unique insights into the growing sophistication of mobile banking fraud and real-world examples of how financial institutions can mitigate such threats.

“Financial institutions are primary targets for cybercriminals as their mobile penetration is much higher than the average website,” said Baumhof. “At the same time, mobile comes with its own challenges as traditional two-factor authentication doesn’t work when the transaction originates from a mobile device. Guidelines such as the Federal Financial Institutions Examination Council (FFIEC) requirements apply to all transactions, but in reality different types of transactions – such as mobile – require targeted cybersecurity strategies. At the summit, we’ll demonstrate how to define a holistic strategy that includes mobile as an integral part to prevent account takeover, malware attacks and fraudulent registrations.”

ThreatMetrix is uniquely positioned to protect financial institutions against cybercrime because the TrustDefender™ Cybercrime Protection Platform addresses the FFIEC requirements to protect the integrity of online customer accounts and financial transactions. The platform enables financial institutions to do the following:

• Address FFIEC layered security banking guidelines

• Recognize returning customers using complex device intelligence

• Identify high risk transactions through device and transaction anomalies

• Protect legitimate customers and transactions from targeted malware

• Detect compromised devices that represent risk to assets

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