Outsmarting Fraudsters: Do You Have Modern Critical Capabilities to Prevail?

When defining your online fraud strategy be sure to develop a cross-functional team that allows for collaboration and sharing of insights that enable fraud detection early in the attack cycle before harm is done. Acknowledge that account takeover and fraudulent account opening are often due to security problems. Solutions that provide the capabilities listed below will offer the best defense. 

Automated bots are an evasive threat in today’s digital landscape. According to the report, “bot detection and management have become more central to deterring many types of fraud attempts, since many forms of fraud are automated by bots.”  

Device intelligence, such as device hygiene, history and reputation, browser anomalies, login patterns, location history, and IP reputation, can be key to detecting fraudulent activities. Uncharacteristic patterns detected are often signs of potential fraud. 

Credential intelligence looks at information about prior usage of digital credentials to answer questions such as “is this credential known to have been recently compromised?” or “has this credential been used for fraud at other sites?” Credential theft and monetization of credentials lead to fraud, lost revenue, and customer abandonment.

Credential intelligence can also help detect when leaked credentials are being leveraged by attackers to launch account takeover attacks or steal critical personal data from users’ accounts. F5 Distributed Cloud bot and fraud solutions defeat credential stuffing attacks at multiple levels by stopping the use of leaked credentials. To learn more about credential stuffing attacks that lead to account takeover, read the F5 eBook Credential Stuffing 2022: The Latest Attack Trends and Tools.

Fraudulent intent can be detected by analyzing users’ physical interactions with devices and comparing those activities against prior interactions. This is typically achieved by installing JavaScript to capture information such as mouse movements, keyboard usage patterns, and any unusual interactions. 

F5’s Distributed Cloud Account Protection leverages behavioral biometrics and user behavior analysis to identify account takeover attempts, even if attackers have valid credentials. Powered by a closed-loop AI engine and large-scale unified telemetry built on over a billion transactions per day, Distributed Cloud Account Protection monitors transactions in real time across the entire user journey. Using advanced signal collection, as well as behavioral and environmental insights, the platform uniquely determines user intent, accurately detecting malicious activity and delivering high fraud detection rates. The AI engine provides a single high-fidelity, real-time outcome while adaptive ML provides fast retraining and continuous enhanced detection.

UBA is another capability highlighted as a critical requirement for effective fraud detection. It is used to examine past user activities to determine if the current login attempt or transaction request is within normal parameters. For example, UBA assesses request origination environmental attributes such as IP, geo-location, and cyber threat intelligence.

F5’s Distributed Cloud Authentication Intelligence improves the accuracy of authentication by assessing user behavior and device attributes. It improves customer security and reduces fraud and friction to increase revenue and customer loyalty.