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Tokyo Online Fraud Detection

Tokyo Online Security: Privacy fears as banks track mobile phones

Banks will track customers' movements via their mobile phones in a bid to tackle fraud. Barclays is introducing a system which allows it to check whether someone is in the same country as their debit or credit card so they know whether the payment is fraudulent or not. For example, if a suspicious transaction was made in the America, but data showed the customer's phone it was in the UK, the bank would realize something was amiss.

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Security and Risk Online: E-payments: Cyber-criminals put financial operators on their toes

The challenge of fraud in electronic transactions remains one enduring source of concern for stakeholders in the financial sector. As the e-platforms grow, the potential risks equally skyrocket requiring a more proactive approach in nipping the trends in the bud.

This advancement has come with its challenges and risks as internet fraudsters took advantage of the technology loopholes to defraud unsuspecting customers of their hard earned money. Blocking these loopholes has been the major headache of stakeholders due to the growing e-payment channels and as transactions through such means grow.

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Machine Learning and Big Data

 You’re sitting at home minding your own business when you get a call from your credit card’s fraud detection unit asking if you’ve just made a purchase at a department store in your city. It wasn’t you who bought expensive electronics using your credit card – in fact, it’s been in your pocket all afternoon. So how did the bank know to flag this single purchase as most likely fraudulent?

Traditionally, detecting fraud relied on data analysis techniques that required significant human involvement. An algorithm would flag suspicious cases to be closely reviewed ultimately by human investigators who may even have called the affected cardholders to ask if they’d actually made the charges. Nowadays the companies are dealing with a constant deluge of so many transactions that they need to rely on big data analytics for help. Emerging technologies such as machine learning and cloud computing are stepping up the detection game.

A machine learning algorithm for fraud detection needs to be tra

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Tokyo Online Security: Mastercard to launch 'selfie' verification in Singapore in 2017

Mastercard expects to launch in 2017 its "selfie" function to verify online transactions in Singapore and parts of Asia, a top executive said.

This function, known as Mastercard's Identity Check, will allow consumers to use facial recognition technology to match selfies against facial identification, ensuring that the online transactions are the real deal.

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Tokyo online fraud detection: Privacy fears as banks track mobile phones

Banks will track customers' movements via their mobile phones in a bid to tackle fraud. Barclays is introducing a system which allows it to check whether someone is in the same country as their debit or credit card so they know whether the payment is fraudulent or not. For example, if a suspicious transaction was made in the America, but data showed the customer's phone it was in the UK, the bank would realise something was amiss.

 

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Tokyo online fraud detection: Privacy fears as banks track mobile phones

Banks will track customers' movements via their mobile phones in a bid to tackle fraud. Barclays is introducing a system which allows it to check whether someone is in the same country as their debit or credit card so they know whether the payment is fraudulent or not. For example, if a suspicious transaction was made in the America, but data showed the customer's phone it was in the UK, the bank would realise something was amiss.

 

 

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Don’t get cyber-Scrooged, Tips for safe online shopping

NEW YORK — ‘Tis the season to be jolly — but it’s also the season for identity theft, phishing and credit card fraud.

 

With Christmas just days away, people are using their smartphones and other devices to get a handle on their last-minute shopping. Hackers are on the hunt as well, looking to steal personal information from easy targets.

 

“People just need to have their radar up, so that when they’re trying to get their perfect gift to grandma’s house in time for Christmas day, they’re not clicking on things they shouldn’t,” said Michael Kaiser, executive director of the National Cyber Security Alliance.

 

Here are some other tips for staying safe this holiday season.

 

You’d better watch out

 

Make sure your phone’s operating system and all the apps you use to shop are up to date. That way you’ll have the fixes for any recently discovered security problems.

 

You should also enable multi-factor authentication in the settings on your important accounts. This is a security

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Tokyo Online Fraud Trends 2017 - What to Watch Out For

Fraud detection is a never-ending learning process for experts and e-commerce merchants. The moment we figure out a fraudster’s attack pattern, we can slow down his fraud attempts ─ until he realizes his approach no longer works. Then he tries something different and often more complex, and the detection-and-prevention cycle turns again. In addition to stopping millions of different fraud patterns in 2016, ClearSale collected and studied those patterns to understand how they’ll evolve. Based on that knowledge, the ClearSale fraud analytics team expects to see more of these types of emerging and growing fraud in 2017.

Some types of ecommerce fraud recur year after year. First, let’s talk about the old standbys. Certain types of e-commerce fraud may always be with us. They’re usually simple patterns that are easy to detect with the right tools. For example, some criminals launch multiple fraud attempts from a geographic area associated with a fraud victim's name, IP address or post of

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Security and risk online: Russian Hackers Stole Millions

An ad-fraud-detection firm claims that a Russian hacking operation has been defrauding online advertisers in the U.S. of more than $3 million a day.In a research report published Tuesday, White Ops said it had discovered a sophisticated online ad-fraud operation it calls “Methbot.”

 

 

“We’ve never seen anything like this. Methbot elevates ad fraud to a whole new level of sophistication and scale,” said Michael Tiffany, co-founder and CEO of White Ops. According to White Ops, the Methbot operation has used hundreds of servers in the U.S. and the Netherlands to create nonhuman or “bot” traffic, and directed that traffic to load webpages featuring video ads from major advertisers, mostly ones based in the U.S. 

 

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Security and risk online: Russian Hackers Stole Millions

An ad-fraud-detection firm claims that a Russian hacking operation has been defrauding online advertisers in the U.S. of more than $3 million a day. In a research report published Tuesday, White Ops said it had discovered a sophisticated online ad-fraud operation it calls “Methbot.”

 

 

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