Online security and banking fraud have evolved significantly in recent years. International fraudsters have honed their tactics and strengthened their arsenals to evade monitoring tools, making intrusion detection a challenge for most organizations. Traditional security measures lack visibility into user behavior, making it difficult to differentiate between customers and criminals on the web.
How can big data help institutions strengthen security and prevent online fraud? Register for this session to learn first-hand from Union Bank and Silver Tail Systems:
The latest threats to cyber security and online fraud;
The power of web session intelligence and behavior analysis to provide visibility into all web and mobile application traffic;
How to leverage big data for security intelligence and enhanced fraud protection.
With the evolution of online and mobile banking, it's now easier than ever to pay a bill online, deposit a check with your phone, or transfer money between accounts. Consequently, the threat landscape for cyber criminals has also increased. Today's common security threats include:
Account Takeover - although banks are getting better at detecting these crimes before they lead to fraud losses, incidents of attempted account takeover are on the rise. Institutions must be vigilant.
Man-in-the-Browser - designed to secretly infect computers, steal credentials and empty consumer and commercial accounts undetected. Some of the newest variants even can defeat some two-factor authentication techniques.
DDoS - Recent distributed-denial-of-service attacks on banks have not directly resulted in fraud, but many experts believe these assaults may be diversionary tactics to mask more serious illicit activity, or else are designed to test a website's defenses.
Given this threatscape, you see the banking/security leader's dilemma. Ever-sophisticated threats require ever-evolving tools. While the number of cyber attacks continues to increase, big data analytics serves to improve detection and prevention. These capabilities include:
Greater Data Transparency - big data solutions offer the ability not just to monitor and analyze network data, but to put it in proper context, to isolate anomalous incidents that need special treatment.
Enhanced Detection Capabilities - as near real-time as possible, to find and respond to anomalous behavior before it causes damage. Proactive vs. reactive response could be the difference between successful and unsuccessful security breaches.
In this session, Ken Palla of Union Bank will discuss how his institution has tackled this challenge - how it has responded to these sophisticated threats with leading-edge security solutions.
Additionally, Jason Sloderbeck of Silver Tail Systems, part of RSA, will detail his organization's specific solutions to help banking institutions respond to this new generation of cyberattacks.
Since 2000, Ken has been responsible for implementing Internet-Based technology for MUFG Union Bank. For the past 9 years, Ken has researched the growing problems of online security, including both web and mobile. He is responsible for identifying the security problem, searching for viable solutions and managing the implementation of the chosen solution. During this period he has implemented a number of online security solutions at MUFG Union Bank, including RSA Adaptive Authentication, the RSA Silver Tail system and the Actimize Payment Fraud solution for commercial wires. He is currently researching what future authentication will look like for web and mobile banking.
VP, Security and Service Delivery, Positive Networks
Sloderbeck has been in the security industry for over 15 years. He started out running a dial-up ISP and quickly moved on to building companies that provided Cloud-based security services like remote access, two-factor authentication, and web filtering and anti-malware. Most recently, he ran Cisco's Cloud Web Security product line after Cisco Systems acquired ScanSafe in 2009. He left Cisco late 2011 to join Silver Tail Systems, Part of RSA, as Director of Product Management.