ThreatMetrix Leads Charge to Protect Against Mobile-Based Cybercrime
Posted March 13, 2014
ThreatMetrix Augments Mobile Solution with Jailbreak Detection and Location-Based Authentication
San Jose, Calif. – March 13, 2014 – ThreatMetrix™, the fastest-growing provider of context-based security and advanced fraud prevention solutions, today announced the upcoming availability of the ThreatMetrix™ Spring 2014 Release, an extension to the company’s ThreatMetrix Platform. This update delivers enhanced endpoint and context intelligence for mobile activity through a solution built on the ThreatMetrix Digital Identity Network.
Mobile devices represent an increasing number of transactions and account logins from consumers and across the workforce. In 2013, mobile represented one third of total traffic on The Network and this number is projected to reach 50 percent by the end of 2014. As mobile traffic and activities rise across industries, there are increased opportunities for cybercrime. Businesses must leverage advanced fraud prevention and context-based security to protect against cybercrime without compromising the intuitive user experience of mobile apps and browsers.
“Mobile device usage for e-commerce and banking will continue to rise and in order to prevent the associated risks, businesses must have the capabilities to effectively analyze mobile activity to detect returning authentic customers and device anomalies that indicate malicious behavior,” said Mustafa Rassiwala, senior director of product management, ThreatMetrix. “This includes differentiating between normal and jailbroken devices, as users with jailbroken devices are more likely to engage in criminal activity.”
With the Spring 2014 Release, The Network protects against mobile cybercrime using:
• Enhanced Mobile Identification: With the enhanced mobile software development kit (SDK), businesses can now detect jailbroken devices. This information often indicates that the mobile operating system has been breached and the security of all applications has been compromised. Cybercriminals typically jailbreak stolen mobile devices to gain full access to the original owner’s personal information. Additionally sophisticated attacks can remotely jailbreak end users’ mobile devices to set up Man-in-the-Middle attacks and easily compromise sensitive information – including social media, banking and e-commerce website logins.
• Mobile-Specific Context Information: GPS-based location detection enables businesses to implement geo-fencing and accept transactions only when end users are within a certain proximity of the approved location. For example, banks may want to restrict certain high risk activities such as adding new payments and money transfers on mobile devices only when the user is located within close proximity to their home address.
“By implementing enhanced location-based authentication capabilities and device recognition comprised of mobile jailbreak detection, identity, behavior and threat intelligence, businesses can establish trust for mobile activity without compromising user identity or convenience,” said Rassiwala. “ThreatMetrix analyzes each mobile activity such as user login or credit card purchase by combining intelligence from billions of previous transactions in The Network, the largest trusted identity network of shared intelligence, to provide businesses with the most comprehensive identity authentication solution on the market.”
With these new capabilities, ThreatMetrix has upped the ante in its fight against cybercrime and now offers comprehensive mobile protection with:
• Mobile SDK for Android and iOS to uniquely identify mobile devices
• Cookieless smart identification of devices when using mobile browsers
• Identity and account authentication using analytics that combine anonymized persona information, behavior and transaction context
“Businesses should rightfully focus on offering the best user experience on mobile apps without compromising on security and fraud prevention,” said Rassiwala. “Developers should not have to deal with low level device identification attributes that change periodically and ThreatMetrix regularly updates its mobile SDK leveraging the latest operating system enhancements to remain compliant and secure.”
The Network processes and analyzes more than 500 million monthly transactions, 160 million active user accounts, 2,500 customers and 10,000 websites. ThreatMetrix protects businesses across industries – including e-commerce, enterprises and financial services – against such threats as account takeover, payment fraud, fraudulent account registration and multi-channel Web fraud. Real-time analytics evaluate logins, payments and new account registrations for validity, enabling ThreatMetrix to authorize legitimate transactions and flag potential threats without negatively impacting the customer experience.
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 Digital Identity 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.
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