PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

AI Can Detect an Increasingly Large Number of Behaviors and Motivations

Tim Sloane by Tim Sloane
June 28, 2021
in Analysts Coverage, Artificial Intelligence, Biometrics, Fraud Risk and Analytics
0
AI Can Detect an Increasingly Large Number of Behaviors and Motivations -

AI Can Detect an Increasingly Large Number of Behaviors and Motivations

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

First, you were identified by how you held your phone, typed, and moved the mouse. Then you were recognized by how you browsed and transacted on the website.

AI models have now been tuned to recognize customer coercion. It doesn’t stop there: AI can detect behavior that suggests older adult account abuse, individuals that are mules for criminals, and a range of other previously impossible to detect financial crimes:

“Every swipe tells a story

This is where the power of behavioural biometrics comes into play. Even though it is a genuine user making the payment, when a person is acting under the influence of a cybercriminal, there are subtle changes in digital behaviour that are statistically significant enough to suggest a social engineering scam may be at play. Some of the behavioural insights obtained from the data collected can help build a picture of a user’s emotions during a session. Figure 1 below summarises a few of the behaviours victims of social engineering scams can exhibit during a session and how these can be interpreted.

Source: BioCatch

        Figure 1: Digital behaviours that indicate a social engineering scam may be occurring in real timeEach individual behaviour on its own does not imply social engineering, but when combined with hundreds of other data points and compared against the norms of the genuine population, these insights have the potential to paint a disturbing picture. Consider something as simple as a customer who is on an active phone call while navigating a live session in a mobile banking app. Analysing the values for this one indicator, there is a significant difference between the genuine and fraud population:

•            Less than 1% of all Android users multitask, combining a phone call with mobile banking activity;

•            More than 1 in 4 confirmed cases of fraud show that the victim was on an active phone call;

•            Data shows that an active call is 30 times more prevalent in the fraud population than the genuine population. 

When considering these differences, an active call during a live banking session can be used with other data points as a strong indicator of social engineering.”

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

Tags: Artificial Intelligencebehavioral biometricsBioCatchfacial recognitionFraud Prevention
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    eCommerce On Social Media, social commerce

    The Rise of Social Commerce and Social Payments

    February 3, 2023
    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix