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Posted May 29, 2013
Real-Time Analysis of 400 Billion Data Points Powers Next Generation Online Cybercrime Prevention Solution
San Jose, CA – May 29, 2013 – ThreatMetrix™, the fastest-growing provider of integrated cybercrime prevention solutions, today announced the ThreatMetrix Digital Identity Network, the most comprehensive repository of information available for screening prior transactions and site visitors, authenticating customers and authenticating remote employee access. This is the first intelligence network that provides insight into positive and negative behavior and threat data for both devices and online personas through more than 400 billion data points without compromising privacy or convenience.
ThreatMetrix offers the first and only real-time screen for online visitors using collaborative intelligence from thousands of websites and transactions. Each month, ThreatMetrix analyzes more than 350 million website transactions and login access attempts across 1,500 global customers and 9,000 websites.
“The ThreatMetrix Global Trust Intelligence Network offers superior capabilities that cannot be found in traditional reputation and security systems,” said Alisdair Faulkner, chief products officer, ThreatMetrix. “By analyzing the context and insights of prior visitor behavior and how they relate to incoming transactions, a superior risk assessment is generated. This can only be done by combining a 360-degree view of a device and anonymized persona information, relationships, associations, prior behavior and real-time threat information. This approach allows ThreatMetrix to uncover telltale signs of fraudsters and hackers, including devices infected with malware, virtual private network (VPN) detection, Man-in-the-Browser (MitB) detection, phishing detection, bots and automated attacks.”
A frictionless experience is critical to an effective visitor authentication solution. Unfortunately, many sites put customers through an extensive, intrusive authentication process, such as out-of-band authentication or requiring additional personal information, to prevent risky transactions. Customers, employees and other “safe visitors” should not be inconvenienced while high-risk visitors are correctly identified.
With the information stored in the Network, companies can avoid costly, intrusive authentication processes for authentic visitors. However, if a visitor has spoofed browser settings, used a proxy to hide his true location, has a past history of high risk behavior across other network transactions or is associated with an abnormal number of personas, the network can flag the visitor for additional scrutiny and authentication.
“Web fraud is the new spam problem of this decade, except it is more profitable and far more lethal to revenues, brands, business continuity and national security,” continued Faulkner. “Instead of drowning underneath the weight of big data, ThreatMetrix customers can automatically pinpoint Web fraud and compromised users, while reducing friction for trustworthy visitors. That’s the power of collaborative filtering using anonymized intelligence from tens of thousands of websites and billions of interactions.”
Obama Orders Heightened Cybersecurity
A collective network is needed to address the cyberwarfare that is already taking place, which has the potential to sabotage federal power grids, financial institutions and air traffic control systems. President Obama recently signed an Executive Order on “Improving Critical Infrastructure Cybersecurity.” Through the Executive Order, the Obama Administration urges critical infrastructure to meet the standards and procedures necessary to address cyber risks, including updating the cybersecurity framework to stay ahead of sophisticated cybercriminals. Such legislation further validates the need for a collective repository of data to monitor and prevent cybercrime.
“The key takeaway from Obama’s Executive Order is that a collective threat, such as the threat to our nation’s infrastructure, requires a collective and orchestrated response,” said Faulkner. “The Network addresses the need for increased cybersecurity measures outlined in the Executive Order. We screen each visitor interaction for risks, stopping potential cybercriminals in their tracks before they have a chance to attack. Without a layered approach to cybercrime prevention in place, government infrastructure and other agencies are at risk of debilitating attacks on national economic security or national public health and safety.”
ThreatMetrix is the fastest-growing provider of integrated web fraud and cybersecurity solutions. The ThreatMetrix Platform helps companies prevent unauthorized access to web and mobile applications, protect sensitive data, and secure transactions against account takeover, payment fraud, identity spoofing, malware, and data breaches. ThreatMetrix protects more than 1,500 customers and 8,500 websites 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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