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Posted October 18, 2012
The Second Annual Conference Provided Cybercrime Prevention Influencers a Weekend of Knowledge-Sharing, Networking and Inspiration
San Jose, CA – October 18, 2012 – ThreatMetrix™, the fastest-growing provider of integrated cybercrime prevention solutions, recently hosted the 2012 ThreatMetrix Fraud Fighters Summit, themed “Protecting Online Transactions, Accounts and Identities.” The conference brought together industry leaders and ThreatMetrix customers from October 10 – 12 at the Silverado Resort and Spa in Napa Valley, Calif., and featured presentations catered to the global fight against cybercrime.
“With worldwide online fraud, identity theft and cybercrime threats growing each year, we recognize the importance of industry experts coming together to discuss proven strategies and best practices for protecting businesses and accelerating e-commerce,” said Reed Taussig, president and CEO, ThreatMetrix. “The second annual ThreatMetrix Fraud Fighters Summit served as a unique opportunity for leading industry professionals, ThreatMetrix customers and other solution providers to unite in the collective fight against cybercriminals.”
More than 200 participants from around the world spent three days in Napa, interacting with members of the ThreatMetrix user community and attending sessions from recognized thought leaders, industry peers and ThreatMetrix C-level executives. Presentation topics ranged from “How to Use Data to Keep Up with a Moving Target” to “Combatting Fraud While Managing Customer Expectations,” and were led by a variety of industry leaders. The summit also served as the inaugural gathering of the ThreatMetrix Advisory Council, a group of high powered fraud fighting professionals that provide ThreatMetrix with real-world guidance and input on cybercrime trends and product development.
Among the presenters was Julie Conroy McNelley, Aite Group Research Director, who discussed the expanding threat landscape, attack vectors and defense mechanisms in a session entitled, “Beating the Bad Guys: How to Win in the Escalating War with Cybercrime.”
“Fraud prevention is more about the journey, because there is no final destination,” said McNelley. “In regard to financial institutions, merely sticking with the FFIEC bare minimums are not enough – the threat environment is moving much too quickly. They must take the requirement of periodic risk assessment very seriously to stay one step ahead of today’s sophisticated cybercriminals.”
In a session called “Top 9 Fraud Attacks and Winning Mitigating Strategies,” presenter Tom Donlea, managing director of Americas, Merchant Risk Council, discussed how clean fraud is a merchant’s primary area of concern.
“Clean fraud is a transaction that passes a merchant’s typical checks and appears legitimate, yet the transaction is actually fraudulent,” said Donlea. “There are a number of strategies merchants can use to combat clean fraud: using device fingerprinting, separating the new customers from loyal ones, locking down purchase delivery, reviewing real-time order feedback, and analyzing system data to understand fraudster behavior. By working together as fraud fighters and sharing this breadth of knowledge, we can stay ahead of these and other traditional and emerging attacks.”
ThreatMetrix®, The Digital Identity Company®, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix Digital Identity Network®, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. Key benefits include an improved customer experience, reduced friction, revenue gain and lower fraud and operational costs. The ThreatMetrix solution is deployed across a variety of industries, including financial services, e-commerce, payments and lending, media, government and insurance.
Walker Sands Communications