In a world where people are increasingly reliant on a variety of Internet-connected devices for everything from banking to booking travel to shopping, preventing online fraud and creating relevant customer experiences are constant and complex business challenges.
41st Parameter, the global leader in device recognition and intelligence, combines its patented technologies and years of expertise to identify devices without cookies, without compromising privacy and without impacting performance. The company's FraudNet platform protects businesses from fraud before it happens. The privacy-compliant solutions help keep the Internet more secure and relevant for everyone.
41st Parameter is uniquely positioned to help financial institutions implement layered security strategies that balance convenience with risk management. As a strategic partner to the world's largest banks, 41st Parameter has developed expertise in the technological, organisational and logistical nuances needed to develop cross-line-of-business and cross-channel strategies.
Thanks to our patented technologies, 41st Parameter identifies and assesses the risk of mobile and online devices and monitors the behaviour of these devices in order to detect fraud. Our ability to identify and covertly track offending devices makes us perfectly suited to help risk managers gain visibility into the new multimodal threat environment.
Risk managers need to become acquainted with all of the ways fraud can be perpetrated using mobile devices both through the web and through apps. The mobile web exposes banks - and their customers - to the threats inherent in any browser session. These threats are complicated by the fact that mobile devices are harder to authenticate due to their inability to store cookies or other identifiers. Apps create an entirely new set of threats that need to be addressed: rogue remote deposit capture, man-in-the-app attacks, look-alike apps used for phishing and the challenge of deploying security patches.
Massive fraud ring attacks are growing in intensity and sophistication every day. Just recently, criminals stole more than £800,000 (€1m) from UK bank accounts using the Zeus Windows PC malware. In this specific instance, detection rates throughout the run of the attack were very low - as little as 20%. The fraudsters manipulated the malware every few days in order to outpace detection.
With 'Zeus kits' and malware-as-a-service (MaaS) gaining popularity and easy access, such attacks will only increase. It is critically important that banks do all that is possible to keep their customers and their brand protected.
41st Parameter protects the world's largest banks, merchants and airlines from such attacks by providing early visibility to compromised accounts and identifying those devices infected with malware.
As the top-tier global banks invest in fraud prevention solutions, the criminals are finding it more difficult to infiltrate the systems. As a result, regional banks are seeing a high increase in attacks with criminals exploiting their security holes. It is critical to ensure you are protected against these highly sophisticated attacks such as man-in-the-middle, man-in-the-browser and man-in-the-app.
41st Parameter has patented solutions designed specifically to thwart such attacks so you can sleep at night knowing your customers and your business are protected. We make the process of detecting and preventing internet fraud faster, easier and more effective, reducing potential losses and expenses.
41st Parameter EMEA
Terminalstrasse Mitte 18
Tel: +1 888 843 4178 (North America)
Tel: +44 7748 187 129 (UK)
Tel: +49 89 970 07 418