Newest ThreatMetrix Patent Pushes the Envelope in Context-Based Security and Fraud Prevention

Posted on July 29th, 2014 by Dan Rampe

Patewnts

Patent expands fuzzy matching technology beyond network and device attributes. Now includes account details, transaction details and more.

The new patent is U.S. Patent 8,782,783: “Method and System for Tracking Machines on a Network Using Fuzzy GUID (Globaly Unique Identifier) Technology.” This is a continuation of a previous patent that provides the cornerstone technology for ThreatMetrix industry leading cookieless device identification and global device recognition. The new patent expands ThreatMetrix global identification technology beyond network and device attributes to include broader attributes such as account, identity and transaction details to build a complete picture of an online persona. The unique fuzzy matching capability of the patent creates a reliable, anonymous global identifier, enabling persistent global tracking and classification of malicious mobile and web devices and activities on the Internet, regardless of how underlying attributes change.

“Cybercriminals are learning to disguise themselves online in the same way thieves wear gloves to mask fingerprints at a crime scene,” said Alisdair Faulkner, chief products officer, ThreatMetrix. “As cyberattacks become more sophisticated, we must evolve our defenses even faster to best detect and keep out cybercriminals, which is where this patented technology comes into play. Without the ThreatMetrix Fuzzy GUID patent, companies lose sight of both good customers and criminals when they change their IP Address, delete cookies or change their mobile or browser settings.”

Continuously updating its products in its worldwide fight against hacking, fraud and ID theft, ThreatMetrix has released a number of patents over the years, securing the company’s place as an industry leader in building trust on the Internet. Patents include:

  • U.S. Patent 8,141,148: “Method and System for Tracking Machines on a Network Using Fuzzy GUID Technology” This patent – which provides the basis for the new patent – provides the technology for device identification and global recognition regardless of cookie deletion and copying. This technology is available through ThreatMetrix SmartID™, which utilizes unique device attributes to identify visitors that have wiped cookies, use private browsing or changed IP addresses.
  • U.S. Patent 8,176,178: “Method for Tracking Machines on a Network Using Multivariable Fingerprinting of Passively Available Information” This patent detects fraudsters using proxies or virtual private networks (VPNs) through the most advanced device recognition risk assessment. The technology provides a complete view of each device, taking into account the device’s historical behavior and broader context.

To broaden the reach of the company’s context-based authentication and advanced fraud prevention solutions, in March ThreatMetrix secured $20 million in Series E.

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 Extends Mobile and Web Context-Based Security and Fraud Prevention Innovation with Patent

Posted on July 29th, 2014 by Dan Rampe

Latest Patent Will Continue to Build Trust on the Internet Using Global Intelligence

San Jose, CA – July 29, 2014 – ThreatMetrix®, the fastest-growing provider of context-based security and advanced fraud prevention solutions, today announced the United States Patent and Trademark Office has granted the company a new patent for its ability to accurately differentiate between trusted customers and cybercriminals across mobile and web interactions.

The new patent is U.S. Patent 8,782,783: “Method and System for Tracking Machines on a Network Using Fuzzy GUID (Globaly Unique Identifier) Technology.” This is a continuation of a previous patent that provides the cornerstone technology for ThreatMetrix industry leading cookieless device identification and global device recognition. The new patent expands ThreatMetrix global identification technology beyond network and device attributes to include broader attributes such as account, identity and transaction details to build a complete picture of an online persona. The unique fuzzy matching capability of the patent creates a reliable, anonymous global identifier, enabling persistent global tracking and classification of malicious mobile and web devices and activities on the Internet, regardless of how underlying attributes change.

“Cybercriminals are learning to disguise themselves online in the same way thieves wear gloves to mask fingerprints at a crime scene,” said Alisdair Faulkner, chief products officer, ThreatMetrix. “As cyberattacks become more sophisticated, we must evolve our defenses even faster to best detect and keep out cybercriminals, which is where this patented technology comes into play. Without the ThreatMetrix Fuzzy GUID patent, companies lose sight of both good customers and criminals when they change their IP Address, delete cookies or change their mobile or browser settings.”

Companies that have implemented first generation device fingerprinting technologies find they are brittle and limited to account or application-centric identification and have no cross-channel or global view of who they are doing business with. Existing ThreatMetrix customers already take advantage of this patented technology to stop account breaches and eliminate fraud while reducing user friction.

ThreatMetrix is committed to enhancing cybersecurity through patented technology and continuous product updates. Over the past several years, ThreatMetrix has released a number of patents, securing the company’s spot as an industry leader in building trust on the Internet. ThreatMetrix’s previously granted patents include:

  • U.S. Patent 8,141,148: “Method and System for Tracking Machines on a Network Using Fuzzy GUID Technology” This patent – which provides the basis for the new patent – provides the technology for device identification and global recognition regardless of cookie deletion and copying. This technology is available through ThreatMetrix SmartID™, which utilizes unique device attributes to identify visitors that have wiped cookies, use private browsing or changed IP addresses.
  • U.S. Patent 8,176,178: “Method for Tracking Machines on a Network Using Multivariable Fingerprinting of Passively Available Information” This patent detects fraudsters using proxies or virtual private networks (VPNs) through the most advanced device recognition risk assessment. The technology provides a complete view of each device, taking into account the device’s historical behavior and broader context.

In addition to its latest patent, ThreatMetrix secured $20 million in Series E in March to broaden the reach of the company’s context-based authentication and advanced fraud prevention solutions. With the ThreatMetrix TrustDefender™ Cybercrime Protection Platform, ThreatMetrix combines comprehensive data collection, behavioral analytics and ThreatMetrix® Global Trust Intelligence Network (The Network) to differentiate between authentic and fraudulent activity and protect its customers in real time.

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

 

 

 

 

Internet Security: An Oxymoron?

Posted on July 24th, 2014 by Dan Rampe

Security

If you’re insecure about Internet security, Richard Adhikari’s article on technewsworld.com (Go to this link for his complete article.) won’t help you sleep any better. However, it could alert you to challenges that have to be overcome to keep the bad guys at bay. The following has been excerpted from Adhikari’s piece and edited to fit our format.

Security products are built around using outdated techniques, Randy Abrams, a research director at NSS Labs, told TechNewsWorld.

Information security has evolved over the past 40 years “in a way that has created a layered model that has added capabilities but deviates little from its core design,” he said. Security “chases the last known problem, while attackers focus on the next possible vector.”

Are vendors serving up flawed software?

[Roberto Martinez,] a security researcher at Kaspersky Lab, [said software] developers have to maintain a balance between security, functionality and ease of use when developing an application. “If priority is given to the functionality instead of application security, then the risk of a compromise is elevated. The complexity in requirements and architecture to run a program can be a factor too….”

[Chris Morales, practice manager, architecture and infrastructure, at NSS Labs added,] “The primary reason why applications are insecure is because developers generally are not security experts.”

Many parts make life hell

Many widely used PC applications and operating systems have millions of lines of code, and “it’s a statistically proven fact that new vulnerabilities are likely to get introduced per few thousand lines of code,” Rahul Kashyap, chief security architect at Bromium, pointed out.

Size is one issue, and the complex interactions between systems constitute another, Seth Hanford, manager of Cisco’s Threat Research Analysis & Communications, told TechNewsWorld.

Further, researchers constantly are discovering new ways to attack existing systems, “not because computers are better or faster, but just because of new investigations, insight or inspiration,” he said. We could be discovering more security flaws because we’re now paying more attention to security.

As for Pass-the-Hash [a hacking technique], that’s “an architectural part of Microsoft Windows,” Hanford stated. “Truly fixing that problem will require a change in the way Windows works.”

Other issues affecting security

Inadequate security training for developers, along with deadlines and budget constraints, may contribute to the existence of security flaws, Jerome Segura, senior security researcher for Malwarebytes, told TechNewsWorld.

Further, quality assurance testing “is often focused on finding typical bugs but not necessarily security vulnerabilities,” he pointed out.

Third-party libraries that may contain vulnerabilities themselves are a problem, Segura remarked, pointing to the Heartbleed flaw in OpenSSL that impacted hundreds of applications.

The nature of multipurpose OSes “makes it nearly impossible to effectively secure them,” NSS’ Abrams remarked.

Possible solutions

Security and risk professionals are considering replacing third-party AV tools with native OS AV augmented with one or more third-party alternatives such as application whitelisting, application privilege management, and endpoint execution isolation, according to Forrester.

However, “blacklisting is too reactive” and whitelisting “is not practical for end users,” Bromium’s Kashyap told TechNewsWorld.

“We need tools — programming languages, Web frameworks, even configuration guides — that make it hard to do the wrong thing,” Cisco’s Hanford suggested.

“…. As a security community, we need to do more … to identify the things that are hard to get right, important to solve, and critical to Web security, and ensure they are well and widely supported.”

In the meantime, enterprises should implement systems to monitor their networks and servers, detect anomalies, and identify any security incidents, Kaspersky’s Martinez suggested. Existing applications should be constantly audited for flaws. And, of course, systems should be patched and firewalls maintained.

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.

 

 

 

Would You Be a Human Sacrifice for $2 Million a Year?

Posted on July 23rd, 2014 by Dan Rampe

CISO

A plotline in bad (okay really bad) movies, books and TV is the one about the uncharted South Sea island where one person each year is honored by being sacrificed to the volcano god. Kind of an extreme form of taking your boss out to lunch on his/her birthday. Anyway, for a full year before being tossed into the volcano…er…happily jumping in… the sacrificee* is treated to every pleasure the island can provide.

*FYI the added “e” was intentional.

Sacrifice with perks

The job description of the person being sacrificed has a lot of similarities to the job description of chief information security officer (CISO). Well, it does if you add soccer goalie and baseball manager to the mix. There’s an old saying that baseball managers are hired to be fired and one mistake by a goalie can negate all the saves that he/she racked up in the previous minutes. As David Jordan, the chief information security officer for Arlington County, Virginia put it, “We’re like sheep waiting to be slaughtered. We all know what our fate is when there’s a significant breach.” The good news is that while they’re waiting, they’re well treated. According to one study, CISO signing bonuses and salaries range from $188,000 to $1.2 million with perks like working from home, lots of time off and promises of big budgets for staff and security software.

In Nicole Perlroth’s piece on nytimes.com (find the complete article at this link.), she discusses the lot of the CISO from high stakes decisions to getting burned at the stake. The following has been excerpted from her piece and edited to fit our format:

[Toughest job in business world]

Chief information security officers have one of the toughest jobs in the business world: They must stay one step ahead of criminal masterminds in Moscow and military hackers in Shanghai, check off a growing list of compliance boxes and keep close tabs on leaky vendors and reckless employees who upload sensitive data to Dropbox accounts and unlocked iPhones.

They must be skilled in crisis management and communications, and expert in the most sophisticated technology….

[Always right]

“We have to be correct 100 percent of the time,” said Tom Kellermann, the chief information security officer at Trend Micro, a security firm. Cybercriminals, he said, “must be correct once.”

A decade ago, few organizations had a dedicated chief information security officer, or CISO (pronounced SEE-so), as they are known. Now, more than half of corporations with 1,000 or more employees have a full- or part-time executive in the post, according to a study conducted last year by the Ponemon Institute, a research firm.

Many of the chief information security officers who took part in the Ponemon study rated their position as the most difficult in the organization. Most of those questioned said their job was a bad one, or the worst job they have ever had.

[Forced out]

Beth Jacobs, who oversaw Target’s data protection, among other duties, was forced to resign….Stephen Fletcher, who supervised data security for the State of Utah, resigned after a breach two years ago revealed the personal data of 780,000 Medicaid recipients. In January, Justin Somaini, Yahoo’s chief information security officer, left his post shortly before the company acknowledged a breach of some customers’ newly revamped email accounts.

The job is so pressured that many end up leaving — voluntarily or not — after two years, according to the Ponemon study. This compared with chief executives, who stick around for 10 years on average, according to other research.

[Whom/what do you trust?]

Of all the headaches that chief information security officers face, one of the biggest is figuring out which security products to trust.

“In the old days, there was a saying, ‘Nobody ever got fired for buying IBM,’ because you could trust IBM,” said Andrew Caspersen, a former chief information security officer at Charles Schwab. “But security firms have never been able to establish that level of credibility.”

What is more, while many information security officers agree that antivirus software, a traditional form of protection, fails to defend against modern-day threats, some say newer products are not much better.

[Layered defense]

They say there is no silver bullet when it comes to breach defense. It is a matter of layering the most effective technologies, hiring the best people, then hoping for good luck.

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 Named to the 2014 AlwaysOn Global 250 Top Private Companies List

Posted on July 22nd, 2014 by Dan Rampe

The AlwaysOn Editorial Team and Industry Experts Identified the Most Innovative Private Technology Companies for the Distinguished Annual List

San Jose, CA – July 22, 2014 – ThreatMetrix®, the fastest-growing provider of context-based security and advanced fraud prevention solutions, today announced it has been named to the AlwaysOn Global 250 Top Private Companies List in the “B2B Cloud and Infrastructure” category for the second year in a row.

The AlwaysOn editorial team, along with venture capital partners and industry experts selected the list based on the following criteria: innovation, market potential, commercialization, stakeholder value and media buzz. The top 250 companies represent leadership in global innovation, developing software and hardware solutions that are ushering in a new era of global prosperity.

“We’re honored to be selected amongst a talented group of companies making a promise to innovate and disrupt in the B2B arena,” said Reed Taussig, CEO, ThreatMetrix. “Our fraud and security solutions build off of the ThreatMetrix® Global Trust Intelligence Network (The Network), the most complete repository of device identification, threat assessments, identity and behavioral intelligence , which enables our customers – some of the world’s largest brands in e-commerce, financial services and other industries – to easily and accurately protect against fraudsters, while maintaining a positive user experience for trusted customers.”

ThreatMetrix’s continued innovation was recently demonstrated when the company announced its integration with Ping Identity’s PingFederate® identity bridge. The integration of ThreatMetrix and PingFederate leverages context-based authentication and single sign-on, enabling enterprises to deliver secure, frictionless access to their business productivity applications for all users. ThreatMetrix also recently secured a $20 million round of Series E financing, which serves as further validation of the company’s continued efforts to build innovative technologies and stay one step ahead of today’s sophisticated cybercriminals.

The winners will be honored July 29-30 at the Silicon Valley Innovation Summit in Mountain View, Calif.

For a full list of winners, visit http://aonetwork.com/blogs/Announcing-the-2014-AlwaysOn-Global-250-Top-Private-Companies.

In addition to AlwaysOn’s award, ThreatMetrix has received a host of other awards so far this year:

  • Named to the 2014 Lead411 Hottest Companies in Silicon Valley list
  • Products Guide (NPG) 2014 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 Info Security Products Guide 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

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.

About AlwaysOn

AlwaysOn is the leading business media brand connecting and informing the entrepreneurial community in the Global Silicon Valley. Founded by Red Herring founding editor, Tony Perkins in 2003, AlwaysOn’s mission is to continue to lead the industry by empowering its readers, event participants, sponsors, bloggers, and advertisers like no other media brand.

© 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

 

 

 

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.

ProPay® Launches TSYS Guardian CyberShield in Partnership with ThreatMetrix® to Provide Advanced Fraud Prevention Solutions

Posted on July 15th, 2014 by Dan Rampe

Comprehensive Platform Accurately Differentiates Legitimate Customers from Fraudsters in Real Time

Lehi, Utah, and Columbus, Ga., July 15, 2014ProPay®, a TSYS® company, announced today a partnership with ThreatMetrix® to provide advanced fraud prevention solutions to its customers. Through this partnership, ProPay customers can have access to state-of-the-art tools to help protect them against cybercriminals. The solution — a cloud-based, real-time identity verification tool — helps validate returning customers and prospects, while protecting a wide range of transactions, including account creation, login authentication, and payment authorization.

TSYS Guardian CyberShieldSM, powered by ThreatMetrix, effectively differentiates between legitimate customers and potential fraudsters by leveraging the rich data and analytics in the ThreatMetrix® Global Trust Intelligence Network (The Network). This provides TSYS Guardian Cybershield access to the largest trusted identity network of shared intelligence, and provides insight into positive and negative behavior and threat intelligence ─ for both online personas and devices ─ using trust-based authentication. The Network sees more than 500 million monthly transactions, and protects more than 160 million active user accounts, 2,500 customers and 10,000 websites.

The Network empowers businesses to analyze the digital personas of website visitors in real time ─ including their previous online behaviors and transactions ─ before authorizing an online transaction. By doing so, TSYS Guardian Cybershield helps businesses reduce friction and arduous screening for legitimate returning online customers, while stopping cybercriminals in their tracks.

“We’re pleased to begin offering our customers more sophisticated fraud prevention and detection tools,” said Greg Pesci, president of ProPay. “The TSYS Guardian CyberShield, powered by ThreatMetrix, is just another example of our desire to provide a suite of payment solutions that allows our customers to focus on running their businesses while protecting against fraudsters.”

“While many businesses are challenged with determining whether or not an online transaction, account login or other activity is fraudulent, The Network provides TSYS Guardian CyberShield the capability to identify high-risk transactions in real time without disrupting the online experience of trusted customers,” said Bert Rankin, chief marketing officer of ThreatMetrix. “We’re thrilled to partner with TSYS and ProPay to provide the most comprehensive fraud prevention solution on the market to a growing customer base.”

About ProPay

Since 1997, ProPay has provided simple, secure and affordable payment solutions for organizations ranging from the small, home-based entrepreneur to multi-billion-dollar enterprises. ProPay is a leading provider of complete end-to-end payment security solutions designed to significantly reduce the client organization’s risk of having sensitive payment data compromised. ProPay is the recipient of the prestigious 2010 ETA ISO of the Year award. ProPay is a wholly owned subsidiary of TSYS (NYSE: TSS) and is a leader in payment data security. For information, visit www.propay.com or call 888.227.9856.

About TSYS

At TSYS® (NYSE: TSS), we believe payments should revolve around people, not the other way around. We call this belief “People-Centered Payments®.” By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend®, A TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.

TSYS’ headquarters are located in Columbus, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and was named one of the 2013 World’s Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more, please visit us at www.tsys.com.

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 ThreatMetrixblog, Facebook, LinkedIn, 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.