15th August, 2019
It is imperative for travel e-commerce companies to be ready for bots, emulators, malware etc. and be precise with their fraud prevention plan.
As a specialist in behavioral biometrics, SecuredTouch asserts that the days of static biometric techniques are numbered. Rather merchants now need to dwell upon continuous authentication that features device intelligence, behavioral anomalies. All of this becomes even more important as mobile-related fraud is on the rise, and the behaviour of consumers when they shop via mobile and what makes such devices risky needs to be ascertained.
Going deeper into the complexity of the mobile commerce fraud, it needs to be understood that there might be one actor in the whole chain, says Lewis Duker, SecuredTouch. “It could be that one fraudster is testing the credentials, and another one monetizing the credentials,” he says. Referring to the threat of bots, he said the malicious activity needs to be trapped as it is happening.
In this context, the limitations of static fraud detection methodology via CAPTCHAs, blocking known hosting providers and proxy services or static biometrics are coming to the fore.
It all boils to verification of the legitimacy of the user, but considering the usage of today’s devices for shopping and the tricks of fraudsters, merchants need to evolve as well.
Hear from senior executives about mobile commerce fraud at the 8th Annual ATPS Asia-Pacific to be held in Penang, Malaysia (27-29 August, 2019).