ThreatMetrix Kicks off National Cyber Security Awareness Month by Announcing “The Network” Has Reached 850 Million Monthly Transactions
To make significant progress against cybercrime, we’re all going to have to work together – individuals, businesses and government agencies alike. Security in this connected world requires collaboration, and collaboration requires trust.
Shared responsibility is the theme of this year’s National Cyber Security Awareness Month, a program sponsored every October by the Department of Homeland Security. To commemorate the start of National Cyber Security Awareness Month, we are thrilled to share that the ThreatMetrix® Global Trust Intelligence Network (The Network) has reached 850 million monthly transactions and now protects more than 210 million active user accounts across 3,000 customers and 15,000 websites.
While businesses must do their part to collaborate on cybercrime prevention by leveraging a collective repository of data such as The Network, the federal government is also doing its part to encourage global information sharing. President Obama’s Executive Order 13636 stresses federal accountability for sharing information with the private sector to protect critical infrastructure such as power plants, communication networks and transportation networks.
Why aren’t we doing more already?
Each of us needs to take accountability for what we do online – that’s the theme of the Stop.Think.Connect.™ campaign. But as individuals, we are greatly outmatched by size, volume and sophisticated of the cybercrime forces arrayed against us. We also trust that the websites we use are doing the right things to protect our privacy.
In a networked world, businesses need up-to-date, global information about online threats and identities to keep customer data secure. For that to happen, legitimate businesses must share data across business boundaries. But collaborating with your competitors, even for the public good, is a difficult idea in many industries.
In the financial services industry, information sharing for security purposes is an accepted practice. But in the retail environment, businesses are wary about sharing customer information with competitors and others. And of course they need to protect customer privacy.
Effective collaboration requires a degree of trust – and that’s the sticking point.
It all comes down to trust
Doing business online requires a level of trust.
- Customers trust that businesses will protect their information and use it responsibly.
- Businesses must trust that customers are legitimate.
Cybercrime eats away at this trust. And, sadly, lack of trust has been the Achilles’ heel of industry collaboration.
Building trust through anonymization and collaboration
Without a broad global context for the people, devices and personas creating accounts, making transactions, or logging into sensitive systems in your network, you cannot trust they are who they claim to be. To get that context, businesses have to share information with many other sites around the world.
Trust requires information sharing, yet information sharing requires trust.
At ThreatMetrix, we’re working to solve this essential dilemma. Through The Network, businesses can securely share information about devices and personas connecting to their sites, without sharing any personally-identifiable information about customers or visitors. ThreatMetrix anonymizes and encrypts information in the network, so personal identities are never revealed to other organizations.
This approach offers a pattern for other cybersecurity collaboration efforts. We need to find ways to increase information sharing around online security and global identities, and the best way to do this is to remove the risk of exposing information we need to keep private.
The more we share information about global threats, the better we can protect legitimate business and build online communities that are truly worthy of trust.
In addition to the overall theme of “cybersecurity is a shared responsibility,” the U.S. Department of Homeland Security has outlined weekly themes to commemorate National Cyber Security Awareness Month throughout October. These themes include:
- Week One – Promoting Online Safety with the Stop. Think. Connect.™ Campaign
- Week Two – Secure Development of IT Products
- Week Three – Critical Infrastructure and the Internet of Things
- Week Four – Cyber Security for Small and Medium-Sized Businesses and Entrepreneurs
- Week Five – Cyber Crime and Law Enforcement
ThreatMetrix plans to support each week’s theme throughout the month. And, to commemorate National Cyber Security Awareness Month, ThreatMetrix has also signed on as a “Champion” with the National Cyber Security Alliance.
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 850 million monthly transactions and protects more than 210 million active user accounts across 3,000 customers and 15,000 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.